U.S. hiring likely rebounded last month before omicron surge
Economists estimated that employers added 400,000 jobs last month, according to a survey by data provider FactSet. That would mark an increase from 210,000 in November.
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Record 4.5 million Americans quit their jobs in November
Employers hired 6.7 million people in November, up from 6.5 million in October, the Labor Department reported Tuesday in its monthly Jobs Openings and Labor Turnover Survey.
Average price for used car climbs past $29K, leaving would-be buyers aghast
When the government reported that consumer inflation rocketed 6.8% in the 12 months that ended in November—the sharpest jump in nearly 40 years—the biggest factor, apart from energy, was used vehicles.
U.S. unemployment claims drop to 198,000
The four-week average of unemployment claims, which smooths out week-to-week volatility, fell to just above 199,000, the lowest level since October 1969.
Two forces collide to create most unusual job market in modern American history
The economy has seldom seen such a mismatch between so much demand for workers and so few people willing to work.
Despite supply issues and omicron, holiday sales rise 8.5%
The results, which covered Nov. 1 through Dec. 24, were fueled by purchases of clothing and jewelry.
Consumer prices up 5.7% over past year, fastest in 39 years
Personal incomes, which provide the fuel for future spending increases, rose 0.4% in November, slightly lower than the 0.5% increase in October.
U.S. consumer confidence rises despite omicron, higher prices
The consumer confidence index—which takes into account consumers’ assessment of current conditions and the their outlook for the future—rose to 115.8 in December, the highest reading since July.
U.S. economy grew at 2.3% in third quarter, up from earlier estimate
But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus.
Omicron casts new shadow over economy’s pandemic recovery
A heightened sense of anxiety has begun to erode the willingness of some people and some businesses to carry on as usual in the face of the extraordinarily contagious omicron variant.
Inflation squeezes holiday budgets for low-income shoppers
The government’s report last week that consumer prices jumped 6.8% over the past year showed that some of the largest cost spikes have been for such necessities as food, energy, housing, autos and clothing.
Lawmakers, business leaders begin to raise alarms about dwindling federal aid, as omicron cases rise across U.S.
Over nearly two years, Congress has committed nearly $6 trillion toward combating the virus and boosting the economy, but some of the most significant programs to keep businesses afloat and help households pay bills have expired or run out of funds.
Child tax credit ending just as inflation hits new highs
The last of six monthly payments, up to $300 per child, is scheduled to hit bank accounts on Wednesday.
Retail sales rise modest 0.3%, but optimism still buoyed
With Americans paying more across the board for necessities like food and gas, the slowdown in spending may be an indication of inflation fatigue.
Wholesale inflation jumps record 9.6% over past 12 months
The increase in wholesale prices was widespread, led by a 1.2% increase in the cost of goods and a 0.7% rise in the price of services.
Surging inflation forcing people, businesses to adapt
Across the United States, in homes and in businesses, the highest inflation in a generation is heightening financial pressures and forcing people to adapt to a new reality.
U.S. consumer inflation up 6.8% in past year, most since 1982
The Labor Department also reported Friday that prices rose 0.8% from October to November—a substantial increase, though slightly less than 0.9% increase from September to October.
U.S. jobless claims at 52-year low amid seasonal volatility
The four-week moving average, which smooths out week-to-week ups and downs, fell below 219,000, lowest since the pandemic hit the United States in March 2020.
Poll: Incomes are up, but Americans focus on inflation
Most people say the sharply higher prices for goods and services in recent months have had at least a minor effect on their financial lives, including about 4 in 10 who say the hit has been substantial.
Companies predicted to give biggest raises since 2008
Americans are in line for their biggest wage increase in more than a decade, according to a report released Wednesday, as companies struggle against a tight labor market and high inflation.