The labor market is tightening, and wages are rising in what is the best labor market for workers since the late 1990s. … READ MORE >
pandemic
Initial jobless claims tick up but labor market remains tight
New filings for jobless claims rose on a seasonally adjusted basis to 222,000 for the week ending Nov. 27, beating expectations and continuing an overall improvement of the labor market. … READ MORE >
Chart of the day: U.S. consumer confidence inches down
Consumer confidence inched down in November to 109.5, the lowest since March, as inflation continued to take its toll. … READ MORE >
Canada’s GDP rose at 5.4% annual rate as economy reopened
Canada’s gross domestic product grew by a strong 5.4% in the third quarter on an annual basis and by 1.3% from the previous quarter as spending on in-person services rose … READ MORE >
Trade in 2022: Supply chain challenges and policy implications
Nearly two years after the pandemic shut down the global economy, policymakers are facing a new challenge as global supply chain bottlenecks push up inflation and hamper economic growth. How countries confront these disruptions will have a big impact on economic growth in the coming year. … READ MORE >
Pending home sales in October rebounded to highest in 2021
Pending home sales rebounded by 7.5% in October following a small decline of 2.4% in the previous month, continuing their rise from the recent low in April. … READ MORE >
RSM US Manufacturing Outlook Index: November was a good month
The RSM US Manufacturing Outlook Index in November reached its highest level since the spring, indicating a sustained economic recovery should the health crisis not get in the way. … READ MORE >
Chart of the day: A look at the strategic petroleum reserve
With roughly 1.05 billion barrels in reserve, some of which are used to meet basic demand each year during hurricanes or other periods of stress, the United States is not in a position to influence oil prices beyond the near term by releasing a portion of the strategic petroleum reserve. … READ MORE >
Surprises in jobless claims and goods trade make up for decline in durable goods orders
Encouraging economic news came from the early release of data on Wednesday: Jobless claims dropped to 199,000 last week, the lowest since 1969, while the advance goods trade deficit narrowed significantly to $82.9 billion in October, led by a sharp rise in exports. … READ MORE >
Holiday inventory problem: Some firms are better prepared than others
While the demand for goods remains strong and supplies are constrained, the impact of inventory shortages is in fact uneven across sectors. … READ MORE >