Initial jobless claims continued to decelerate for the sixth straight week as the labor market slowly normalizes, according to government data released Thursday. State employment agencies reported 376,000 new claims for unemployment insurance for the week ending June 5, down from 800,000 claims per ... READ MORE >
coronavirus
May CPI: Prices surge on strong base effects and economic reopening
Prices continue to rise as demand outstrips supply across a robust economic reopening in the United States. Supply chain constraints and bottlenecks are still disrupting the flow of inputs used at earlier stages of production and intermediate goods. These disruptions underscore the imbalance ... READ MORE >
RSM Canada Financial Conditions Index: Accommodation to continue while economy recovers
The Bank of Canada on Wednesday reiterated its intention to maintain an accommodative monetary policy stance as the economy continues to recover and as financial conditions remain one standard deviation above neutral. As it has for the past 16 months, the central bank is keeping its policy rate at near ... READ MORE >
CHART OF THE DAY: April JOLTS data shows tightening in the labor market, but it’s nothing new
The federal government's job openings and labor turnover survey data for April, also known as JOLTS, implies that while the labor market has tightened—mostly because of people dropping out of the workforce amid broad demographic and structural economic changes—this is nothing new. If anything, there is ... READ MORE >
UK economic chartbook: Consumers gain more confidence
Mass vaccinations have stimulated a revitalization of the domestic U.K. economy in recent months, which is resulting in a rapid normalization of consumer behavior. The manufacturing sector had already begun recouping losses during the pandemic, and the increased consumer spending will aid in ... READ MORE >
Pandemic pressures leave women struggling to regain lost ground on jobs
During the pandemic, women have taken the brunt of the damage to the labor force, whether in the form of losing their jobs or working triple-duty at home with child care and education on top of their work obligations. Real wage differentials between men and women during the pandemic have turned into a ... READ MORE >
CHART OF THE DAY: Duration of unemployment suggests patience by the Fed
Among mounting signs of recovery from the pandemic and recession, it’s taking longer for out-of-work members of the labor force to find employment. It now takes almost 30 weeks on average to find a job, with a median of more than 19 weeks. Both of those measures are far above what would normally be ... READ MORE >
May employment report: Job gains accelerate, adding 559,000
The American labor market showed improved signs of life in May, adding 559,000 jobs along with an upward revision to the April figure of 27,000 jobs, putting it at 586,000. In many respects, this is a Goldilocks number—not too hot and not too cold—which should provide some relief to concerns that ... READ MORE >
RSM UK Financial Conditions Index: A third month of stability in May
The British financial sector and economy are showing signs of entering a new phase in the business cycle. We have consistently made the case that V stood for vaccine and not the shape of the recovery. Thanks to the life sciences community and National Institutes of Health, there is now a vaccine, and we ... READ MORE >
Initial jobless claims fall to pandemic low of 385,000
As the American economy moves toward its full capacity to produce, the labor market continues to improve. First-time jobless claims fell to a pandemic low of 385,000 for the week ending May 29, according to government data released on Thursday. This report is another in a series of encouraging jobs ... READ MORE >