Top-line initial claims for unemployment benefits increased to 770,000 versus an expected decline to 700,000 for the week ending March 13, according to government data released Thursday. … READ MORE >
Economics
CHART OF THE DAY: Deflating the hype on inflation
While we do expect the year-ago effects brought on by the global pandemic to result in a period of moderate reflation in the economy, the longer-term outlook implies that elevated inflation will be transitory and give way to price stability. … READ MORE >
FOMC meeting comment: Welcome to the boomtown
The onset of recovery in the U.S. economy and the growing likelihood of a robust expansion this year and next resulted in a significant upgrade of the Federal Reserve’s Summary of Economic Projections forecast through 2023. … READ MORE >
CHART OF THE DAY: Airline passenger volume rising
One sign that Americans are ready to resume taking normal social and economic risks is airline passenger traffic. Airline passenger volume in the United States is increasing again in a welcome signal that the economy is ready to recover. … READ MORE >
Coronavirus update: Vaccines and the pandemic in six charts
Americans are being vaccinated at an average rate of 2.3 million per day and supplies are sufficient enough that states have begun to lower age requirements. … READ MORE >
CHART OF THE DAY: Where in the world is wage push inflation?
Much of the talk about risks to the economic outlook has been linked to the prospect of higher inflation following more than $5 trillion in federal spending to address the pandemic. But what is often missing in that discussion is the link between price volatility and wages. … READ MORE >
Making sense of inflation: What we can learn from post-recession recoveries
It can take an average of 27 months after a recession for inflation to return to normal as sustained economic growth is attained and inflation reaches its assumed 2% target. This implies that some of the recent concerns around inflation are premature. … READ MORE >
Initial jobless claims: Expect the number to swell in coming weeks on benefits extension
First-time jobless claims remained elevated for the week ending March 6, arriving at 712,000, down from an upwardly revised 754,000, the Labor Department reported on Thursday. … READ MORE >
Economics of the $1.9 trillion American Rescue Plan Act
The legislation will provide a robust tailwind to the domestic economy as it recovers from the pandemic and likely boost gross domestic product by an additional three percentage points. … READ MORE >
CHART OF THE DAY: Lagging employment in education and health care
Even as the economy begins to recover and jobs return, employment remains well below pre-pandemic levels in many key sectors. Two of these areas are education and the health care industry, according to the recent jobs data from the Labor Department. … READ MORE >