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Stories 1 - 20 |
Zero Cars Were Sold
in Shanghai Last Month
May 17, 2022 3:21 PM CDT
Zero Cars Were Sold in Shanghai Last Month
Lockdown hit city's economy hard
- Shanghai is finally beginning to emerge from a long, harsh lockdown that was initially supposed to last only a few days—but the economic damage will take time to recover from. In what Bloomberg sees as evidence of how strict the lockdown was, not a single car was sold in...
Apr 4, 2022 9:35 AM CDT
Jamie Dimon Warns of Unprecedented Trifecta
Pandemic recovery, Ukraine war, and high inflation could 'dramatically increase' risks to economy
- JPMorgan CEO Jamie Dimon is out with his annual letter to shareholders, which Axios notes is closely watched in financial circles. The
Wall Street Journal
finds that it's less rosy than last year, when he saw a potential "Goldilocks" moment of sustained growth on the horizon. This year,...
A Classic Warning Sign
of Recession Is Flashing
Apr 1, 2022 10:12 AM CDT
A Classic Warning Sign of Recession Is Flashing
Economists are keeping an eye on yields for 2- and 10-year Treasurys
- A wonky-sounding phenomenon in the bond market known as a "yield curve inversion" took place this week, and it's caught the attention of economists. The reason? It just happens to be a classic warning sign that a recession might be in the cards. Details:
Latest Report Confirms
Inflation Is Still Really Bad
Feb 10, 2022 8:15 AM CST
Latest Report Confirms Inflation Is Still Really Bad
Consumer prices jumped 7.5% last month compared with 12 months earlier
- Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises, and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy. The Labor Department said Thursday that consumer prices jumped 7.5% last month compared...
Economists Expected Lousy
Jobs Report, Got the Opposite
Feb 4, 2022 7:55 AM CST
Economists Expected Lousy Jobs Report, Got the Opposite
Employers added 467K jobs in January, way above estimates
- Economists were expecting a lousy jobs report on Friday, but it came in much stronger than expected. Employers seem to have weathered the omicron surge in January better than anticipated. The numbers:
Employers added 467,000 jobs in January, the Labor Department reported. Estimates varied widely ahead of the
Bounce Back for US Economy
in 2021 Was a Major One
Jan 27, 2022 8:31 AM CST
Bounce Back for US Economy in 2021 Was a Major One
Nation's GDP saw strongest calendar-year growth since the Reagan years
- The US economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation's gross domestic product—its total output of goods and services—expanded 5.7% in 2021. It was the strongest calendar-year...
Gloomy Word 'Superbubble'
Is Now Being Tossed Around
Jan 25, 2022 9:04 AM CST
Gloomy Word 'Superbubble' Is Now Being Tossed Around
Investor Jeremy Grantham, noted for his pessimistic forecasts, issues a big one
- If the forecast of big-name investor Jeremy Grantham is correct, the US economy—and perhaps your 401k—is in for a world of hurt. The 83-year-old founder of the Boston-based investment fund GMO (who is known for his gloomy forecasts) isn't just warning of a bubble, he's upgraded...
'Frighteningly High' Level
Dec 10, 2021 7:40 AM CST
Inflation Reaches 'Frighteningly High' Level
CPI hits annual rate of 6.8% in November, highest in 39 years
- Last month's inflation report showed it was the worst in three decades. This month's? The worst in
decades, reports the
Wall Street Journal
. The Labor Department said Friday that the Consumer Price Index—which this year may have surpassed the monthly jobs report in significance—hit an...
Holiday Shoppers May Not
Like Goldman Sachs' Forecast
Nov 16, 2021 9:27 AM CST
Holiday Shoppers May Not Like Goldman Sachs' Forecast
Inflation expected to get worse through the winter before settling down next year
- Goldman Sachs is out with its economic forecast for the coming year, and it may not please people hoping for a quick end to surging prices before the holiday shopping season. Highlights:
"The current inflation surge will get worse this winter before it gets better," says the
Got Milk Controversy?
Nov 5, 2021 12:09 PM CDT
Got Milk Controversy? CNN Does
A Texas family's milk consumption was featured in a news segment on inflation; backlash followed
- The US economy continues to be a hot topic, especially as we head toward another winter still wrangling with COVID, and a CNN report this week tried to get to the heart of "how badly inflation is hitting the middle class." The five-minute segment intro'd by commentator...
A Swing and a Miss for
September's Jobs Report
Oct 8, 2021 7:59 AM CDT
A Swing and a Miss for September's Jobs Report
Just 194K jobs were added last month
- US employers added just 194,000 jobs in September, a second straight tepid gain and evidence that the pandemic still has a grip on the economy, with many companies struggling to fill millions of open jobs. Friday's report from the Labor Department also showed that the unemployment rate fell...
During Pandemic, This Nation's
Economy Takes Top Billing
Sep 30, 2021 5:00 PM CDT
During Pandemic, This Nation's Economy Takes Top Billing
Switzerland is No. 1 on WIPO's Global Innovation Index for 132 economies around the world
- To get through something like a pandemic, countries have had to innovate—especially when it comes to keeping their economies humming. And there are "reasons to be optimistic" on that front, according to one of the editors of the World Intellectual Property Organization's annual Global Innovation Index , which...
2 Words on Jobs Report:
Sep 3, 2021 8:27 AM CDT
2 Words on Jobs Report: 'Huge Disappointment'
August numbers come in far below expectations
- The new jobs report is in for August, and lackluster might be one word to describe it. "Huge disappointment" ( CNBC ) and "surprisingly weak" (the AP ) are others. The key numbers:
Employers added 235,000 jobs for the month, but that is far below
Amid Rising COVID Cases,
a Bad Stat for the Economy
Aug 17, 2021 10:35 AM CDT
Amid Rising COVID Cases, a Bad Stat for the Economy
Consumers cut back on spending more than expected in July
- Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores, per the AP . Retail sales fell a seasonal adjusted 1.1% in July from the month before, the Commerce Department said Tuesday. It was a much larger drop than the 0....
Job Numbers Are Strong,
but There's an Asterisk
Aug 6, 2021 7:47 AM CDT
Job Numbers Are Strong, but There's an Asterisk
Numbers may not reflect fast-moving impact of delta variant
- The new monthly jobs report is out, and the numbers are stronger than expected for July. But the delta variant is throwing a wrench into assessments. Details:
Employers added 943,000 jobs for the month, ahead of consensus estimates of 845,000, reports CNBC .
The unemployment rate dropped more than
Prices Rising at Fastest
Clip in 13 Years
Jul 13, 2021 10:15 AM CDT
Prices Rising at Fastest Clip in 13 Years
Consumer prices in June up 5.4% over previous year
- Prices for US consumers jumped in June by the most in 13 years, extending a run of higher inflation and fueling concerns that the rapidly rebounding economy is making goods and services increasingly expensive, per the AP . Tuesday's report from the Labor Department showed that consumer prices in June...
New Jobs Numbers
Better Than Expected
Jul 2, 2021 7:54 AM CDT
New Jobs Numbers Better Than Expected
Employers added 850K jobs, while the unemployment rate ticked up to 5.9%
- The new monthly jobs numbers are in, and they are stronger than expected. "Robust" is the word used by the AP . Highlights:
Employers added 850,000 jobs in June, up from 583,000 in May. Most analysts had expected a gain of about 700,000 jobs, reports CNBC
In This Market, Prepare to Pay
Over List Price for That Car
Jun 29, 2021 11:42 AM CDT
In This Market, Prepare to Pay Over List Price for That Car
New cars are harder to find and selling for sticker price or more
- Workers are turning back into commuters, and many of those workers are going out to buy a new car. But there aren’t a lot of new cars out there, which means the wheels on the lot aren’t cheap. There are shortages related to pandemic shutdowns—a global chip...
Inflation Is Rising,
and the Stakes Are High
Jun 10, 2021 10:40 AM CDT
Inflation Is Rising, and the Stakes Are High
The big question is whether it's a temporary blip related to the pandemic
- A new government report confirms what many Americans probably already noticed: Prices are rising for all kinds of things. The Labor Department said Thursday that inflation rose 5% in May when compared to the previous year, which is higher than expected and the biggest spike since the summer of 2008—...
Hiring Rebounds in May but
Falls Short of Expectations
Jun 4, 2021 7:43 AM CDT
Hiring Rebounds in May but Falls Short of Expectations
Employers added 559K jobs, double the figure from April
- Last month's unemployment report was a bust . The new one for May is twice as strong, though still shy of expectations. The Labor Department reported Friday that employers added 559,000 jobs last month, below expectations of about 670,000, reports CNBC . The unemployment rate, meanwhile, fell to 5....
Stories 1 - 20 |
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