Even as prices have soared in recent months, American workers are earning more than they did before the pandemic as the overall gains in their wages have outpaced inflation over the past two years. … READ MORE >
Coronavirus
Initial U.S. jobless claims exceed pre-pandemic level as omicron variant sets in
New filings for jobless benefits last week rose to 230,000 from 207,000 in the prior week, exceeding the average pre-pandemic level for the first time in six weeks as the impact of the omicron variant began to be felt in the labor market. … READ MORE >
RSM Canada Supply Chain Index shows continued strain
Supply chain disruptions in Canada worsened in December as businesses continued to be hindered by the fallout from flooding in British Columbia and a shortage of workers. … READ MORE >
RSM Canada Financial Conditions Index shows the return of risk
Risk is being reintroduced into Canada’s financial markets as investment decisions and monetary policy begin to pivot from interest rates at the zero bound. … READ MORE >
Price stability now a paramount concern as inflation hits 7%
The Consumer Price Index rose to a 7% annual rate in December, presenting a challenge to the Federal Reserve as it attempts to restore price stability. … READ MORE >
Chart of the day: Inflation and labor shortages pressure small businesses
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 >
Monetary and fiscal policy in a changing economy: The Fed’s mandate for price stability
In the year ahead, the economy and financial markets will be influenced by how the Federal Reserve strikes a balance between its dual mandates of full employment and price stability. We examine the challenge of keeping prices stable. … READ MORE >
Canada’s jobs report shows strong gains among full-time workers
Canada added 55,000 jobs in December, rounding out the year on a strong note, according to data released by Statistics Canada on Friday … READ MORE >
U.S. December jobs report: Economy has strongest year of job creation on record
The total number of jobs created last year was roughly 6 million as the unemployment rate declined from 6.5% at the start of the year to 3.9%. … 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 >