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 >
Economics
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 >
Monetary and fiscal policy in a changing economy: Meeting the Fed’s full employment mandate
As workers have returned to the labor force, incomes have risen and the unemployment rate has dropped to 4.2%, a robust discussion has followed over what constitutes full employment in the American economy. … READ MORE >
RSM US Manufacturing Outlook Index: Expansion continues despite omicron, supply chain uncertainty
The RSM US Manufacturing Outlook Index remained solid in December at 1.3 standard deviations above neutral as the economy continued to expand into the end of the year. But that strength is in question as the omicron variant continues to spread. … 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 >
Canada’s retail sales increased by 1.6% in October but new virus threat looms
Retail sales climbed by 1.6% to $57.6 billion in October thanks to rebounding sales of motor vehicles and parts, but the data was captured before the stunning recent surge of the omicron variant. … 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 >
FOMC meeting: Setting the stage for three rate hikes in 2022
The Federal Reserve on Wednesday set the stage for multiple increases in the federal funds policy rate next year by accelerating the tapering of asset purchases to $30 billion per month, up from $15 billion. The tapering should be wrapped up by March. … READ MORE >
Five things that retail sales tell us about holiday shopping
Navigating the strong headwinds from the pandemic has not been easy for retailers this holiday season, but here are five things we have learned about their response as reflected in the November retail sales data released by the Commerce Department on Wednesday. … READ MORE >