The number of job vacancies jumped to 11 million in December from 10.4 million. … READ MORE >
Tuan Nguyen
Canadian economy grew by 0.1% in November
Canada’s gross domestic product growth remained unchanged in November at 0.1% as tightened monetary policies continued to slow the economy. … READ MORE >
Labor costs slow, setting the stage for smaller Fed rate hike
The index showed that labor cost growth fell to 1.0% on a quarterly basis, and to 5.1% on a year-ago basis for all workers, according to the Bureau of Labor Statistics’ Employment Cost Index released on Tuesday. … READ MORE >
American consumers grow more cautious as spending falls
Personal spending fell by 0.2% in dollar terms in December and by 0.3% after adjusting for inflation, which rose by 0.1% on the month. … READ MORE >
Initial jobless claims fall despite layoff news
New filings for unemployment benefits fell to 186,000 last week, a 10-month low. … READ MORE >
U.S. GDP: Resilient growth closes out a challenging year
A resilient American economy grew by 2.9% during the final three months of last year because of a strong increase in demand for services by consumers, fixed business investment and inventory restocking. … READ MORE >
Back-to-normal supply chain fuels disinflation tailwind
Supply chains in the United States continued to recover in December, remaining at the pre-COVID level for the sixth straight month, according to the RSM US Supply Chain Index. … READ MORE >
Home sales dropped by 17.8% last year in biggest drop since 2008
December’s sales declined by 1.5% to 4.02 million units annualized. That brought the total number of units sold last year to 5.03 million, 17.8% lower than in 2021. … READ MORE >
Housing starts fell last year for the first time since 2009
Housing starts dropped by 1.4% on an annualized month-ago basis, while building permits fell by 1.6%. For all of last year, housing starts fell by 3%. … READ MORE >
U.S. retail sales and producer inflation fall as spending weakens
Retail sales and producer inflation data came in lower than expected in December, giving the Federal Reserve more reasons to begin to slow down its rate hikes. … READ MORE >