Employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent

Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today.

Posted in Economy | Leave a comment

Biden fights talk of recession as key economic report looms

Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession.

Posted in Economy | Leave a comment

U.S. business activity contracts in July for first time in 2 years, survey shows

U.S. business activity contracted for the first time in nearly two years in July as a sharp slowdown in the service sector outweighed continued modest growth in manufacturing, painting a glum picture for an economy stunted by high inflation, rising interest rates and deteriorating consumer confidence.

Posted in Economy | Leave a comment

Wholesale prices shoot up near-record 11.3% in June on surge in energy costs

The producer price index, a measure of the prices received for final demand products, increased 11.3% from a year ago, the highest reading since the record 11.6% in March.

Posted in Economy | Leave a comment

Inflation rose 9.1% in June, even more than expected, as consumer pressures intensify

The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked the fastest pace for inflation going back to November 1981.

Posted in Economy | Leave a comment

Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent

Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.

Posted in Economy | Leave a comment