Inflation and labor shortages continued to put pressures on small businesses as the Small Business Optimism Index in December remained below its pre-pandemic level, up only 0.5 points to 98.9. … READ MORE >
Chart of the day: Service sector grew at slower pace in December
The purchasing managers’ index for services grew at a much slower rate in December as supply chain delays continued to put a drag on service activities. … READ MORE >
Initial jobless claims remain below pandemic level despite seasonal uptick
New filings for unemployment insurance last week ticked up to 207,000 from 198,000, continuing to stay below the pre-pandemic level amid a tight labor market where businesses are holding onto their workers. … READ MORE >
ADP jobs report: Service sector led an upside surprise in December
Private businesses in the United States added 807,000 jobs in December, the most since May, pointing to a stronger rebound of the labor market, according to a report from ADP on Wednesday. … READ MORE >
Labor market tightened in November despite decline in job openings
Demand for labor declined slightly in November while the rate of people quitting their jobs returned to an all-time high, according to new data from the Bureau of Labor Statistics. … READ MORE >
Chart of the day: Manufacturing sector grows at a slower pace
The manufacturing sector continued to grow in December but at a slightly lower rate compared to November, according to data released by the Institute for Supply Management on Tuesday. … READ MORE >
Consumer confidence surveys reflect a bifurcation of the nation’s economy
Recent readings of consumer confidence are revealing an increasingly bifurcated economy as households continue to grapple with the pandemic. … READ MORE >
Consumer confidence improves despite concern over omicron variant and inflation
The Conference Board’s headline consumer confidence index rose by 3.9 points to 115.8 on the month, the largest increase in three months and the highest since July, according to data from the Conference Board on Wednesday. … READ MORE >
Chart of the day: Supply chain issues ease as demand-pull inflation rises
Estimates of logistics data in the RSM US Supply Chain Index, as seen in the index’s Nowcast, point to improved conditions in the U.S. supply chain heading into the end of the year. … READ MORE >
Initial jobless claims remain below pre-pandemic level despite seasonal volatility
New filings for jobless benefits last week advanced to 206,000, remaining below the pre-pandemic level in 2019, after falling to a 52-year low the week before. … READ MORE >