Retail sales rose by 1.7% in October as consumers, flush with cash, signaled a strong start to the final quarter of the year, according to a report from the U.S. Census Bureau on Tuesday. The increase beat an upwardly revised 0.8% in September and was the third month in a row that retail sales ... READ MORE >
coronavirus
Canadian business: Preparing for the new normal
For small and midsized business owners, it seems like déjà vu all over again. After the pandemic hit in March 2020, business owners were forced to rethink and, in some cases, reinvent their service delivery model through e-commerce. With the coming and going of the second and third waves of the ... READ MORE >
Introducing the RSM US Supply Chain Index: Sustained growth depends on retooling
The infrastructure that supports the domestic and global economies has experienced a significant stress test over the past few years. The twin policy shocks caused by the 2017-2020 trade war and the decision to effectively shut down elements of the global economy during the pandemic have resulted ... READ MORE >
Chart of the day: Consumer confidence erodes to decade low in November
Concerns over inflation crept into consumer confidence in November, pushing the index from the University of Michigan to a decade low of 66.8 from 71.7 in October, according to data released on Friday. Behind the decline was the rise in gasoline prices, which have long had a significant effect in ... READ MORE >
Strong labor demand pushed quit rate to a record
Demand for labor showed little change in September as job openings stayed at 10.4 million and the rate of people quitting their jobs reached an all-time high at 3.0%, according to new data on Friday from the Bureau of Labor Statistics. The imbalance of the labor market, where demand for labor ... READ MORE >
Chart of the day: Jobless claims approach pre-pandemic level
Claims for jobless benefits continued to signal a steady bounce back of the labor market as new filings declined to a pandemic low of 267,000 for the week ending Nov. 6. That was 4,000 fewer claims compared to the previous week and was the sixth consecutive weekly drop, according to data on Wednesday ... READ MORE >
U.S. October jobs report: Hiring booms as unemployment falls to 4.6%
Traditionally after recessions, once the unemployment rate falls below 5%, workers on the sideline tend to begin trickling back into the workforce. The October U.S. employment report released on Friday was no exception, showing an increase of 531,000 jobs and a decline of roughly 255,000 in the jobless ... READ MORE >
Canada’s trade surplus widened amid microchip shortage
Canada’s merchandise trade balance had the fourth consecutive month of surplus in September as global supply chain bottlenecks debilitated the automotive industry, according to data released by Statistics Canada on Thursday. Although the surplus widened, the falling of both exports by 2.3% and imports ... READ MORE >
Fed slows asset purchases as it moves to end pandemic-era accommodation
The Federal Reserve announced on Wednesday that later this month it would start paring back its pandemic-era monetary accommodation even as it held its policy rate between zero and 25 basis points. This policy step, announced after the two-day meeting of the Federal Open Market Committee, creates ... READ MORE >
Chart of the day: Service sector grew at record pace
The Services Purchasing Managers’ Index hit a record high in October at 66.7%, 4.8 percentage points higher than in September, confirming the recent shift in consumption from goods to services that will last until the end of the year. A reading above 49.2% indicates expansion. The surging overall ... READ MORE >