Consumer Price Index up 0.4 percent over the month, 6.0 percent over the year, in February 2023
Energy prices rose 5.2 percent over the past 12 months. Gasoline prices fell 2.0 percent, and fuel oil prices rose 9.2 percent. Consumer prices for electricity rose 12.9 percent, and prices for natural gas increased 14.3 percent over the last 12 months.
The US economy added 311,000 jobs in February, 2023
Industries with notable job gains included leisure and hospitality, retail trade, government and health care. After being crushed during the pandemic, the leisure and hospitality has been steadily adding back employees and trying to meet increased demand from consumers shifting their spending from goods to services.
January CPI inflation rate slows to 6.4% but monthly inflation rose by 0.5%
Rising shelter costs were the biggest contributor to rising inflation last month and year, accounting for half of the 0.5% monthly increase in prices and 60% of the 6.4% annual inflation rate, the Labor Department said. Shelter costs rose by 0.7% last month and are up 7.9% from a year ago.
The American economy added 517,000 jobs in the month of January, 2023
Growth was widespread across industries, with notable gains in restaurants and bars, retail stores, healthcare facilities, professional and business offices, and construction. We saw jobs added in the care economy that make it possible for more people to work, and labor force participation increased among workers between the ages of 25 and 54. The unemployment rate for Black workers dropped to near an all-time low – although at 5.4 percent it remains higher than the overall rate and indicates an important area of focus for our economic equity policies.
Consumer prices for all items rose 6.5 percent from December 2021 to December 2022.
Cereals and bakery products prices rose 16.1 percent, dairy and related products prices rose 15.3 percent, nonalcoholic beverages and beverage materials prices rose 12.6 percent, fruits and vegetables prices rose 8.4 percent, and prices for other food at home rose 13.9 percent.
The Bureau of Labor Statistics reported that the American economy added 223,000 jobs in the month of December
With significant gains in health care, leisure and hospitality and construction jobs, we rounded out 2022 with more of the steady, stable growth that helped our workforce recover from the COVID pandemic and has empowered workers to take on new opportunities.
Consumer prices rose less than expected in November, up 7.1% from a year ago
Falling energy prices helped keep inflation at bay. The energy index declined 1.6% for the month, due in part to a 2% decrease in gasoline. Food prices, however, rose 0.5% and were up 10.6% from a year ago. Even with its monthly decline, the energy index was higher by 13.1% from November 2021.
U.S. Employers Added 263,000 Jobs in November
Mr. Guidi’s industry, health care, has seen some of the highest job-opening rates in the economy as employers seek to win back workers who bore the brunt of dealing with Covid-19. More broadly, job postings and the share of workers quitting their jobs have been declining from record highs earlier in the year, while initial claims for unemployment insurance have remained low.
The consumer price index, jumped by 7.7% in October relative to a year earlier
Nonfarm payrolls grew by 261,000 in October
Leisure and hospitality also posted solid growth, up 35,000 jobs, though the pace of increases has slowed considerably from the gains posted in 2021. The group, which includes hotel, restaurant and bar jobs along with related sectors, is averaging gains of 78,000 a month this year, compared with 196,000 last year.
The consumer price index increased 0.4% for the month of September to 8.2% over last year
Closely watched shelter costs, which make up about one-third of CPI, rose 0.7% and are up 6.6% from a year ago. Transportation services also showed a big bump, increasing 1.9% on the month and 14.6% on an annual basis. Medical care services costs rose 1% in September.
Nonfarm payrolls increased by 263,000 for the month of September
Nonfarm payrolls increased by 263,000 for the month, elsewhere, health care added 60,000, professional and business services rose 46,000 and manufacturing contributed 22,000. Construction was up 19,000 and wholesale trade was up 11,000.
Consumer prices rise 8.3% over last year in August
Inflationary pressures remained strong across other components of the report, with declining gas and energy prices offset by increases in the costs of shelter, food, and medical care — the largest of many contributors to the broad-based monthly increase, per the Bureau of Labor Statistics.
Employers added 315,000 jobs in August
The unemployment rate rose to 3.7 percent, from a half-century low of 3.5 percent in July. That rate only counts people who are actively looking for jobs, and the uptick came alongside a big increase in the size of the labor force — a sign that rising wages, abundant job opportunities and the receding pandemic are leading more people to look for jobs.
Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit
The jump in the food index put the 12-month increase to 10.9%, the fastest pace since May 1979. Butter is up 26.4% over the past year, eggs have surged 38% and coffee is up more than 20%.
Economy adds 528,000 jobs in July
July’s payroll increases were broad-based. Leisure and hospitality, which includes restaurants and bars, the sector hit hardest by COVID-19, led the job gains with 96,000. Professional and business services added 89,000 jobs; health care, 70,000; construction, 32,000; manufacturing, 30,000; and retail, 22,000 jobs.
The Federal Reserve just raised interest rates 75 basis points. Here’s what it means for the Main Street economy
The Federal Reserve raised its benchmark interest rates by 75 basis points on Wednesday, the latest in a series of rate hikes intended to cool the economy and bring down inflation. For all Americans, higher interest rates carry weighty financial implications. Main Street business owners are no exception, as the higher interest rates will flow through to the cost of business loans from lenders including national, regional and community banks, as well as the Small Business Administration’s key 7(a) loan program.
Inflation surges 9.1% in June, most since November 1981
The Bureau of Labor Statistics’ Consumer Price Index (CPI) reflected a year-over-year increase of 9.1% last month, up from the prior 40-year high of 8.6% in May. Economists were expecting June’s reading to show an 8.8% increase, according to estimates compiled by Bloomberg.
U.S. economy adds 372,000 jobs in June, unemployment rate steady at 3.6%
Inflation rose 8.6% in May, highest since 1981
Some of the biggest increases came in airfares (up 12.6% on the month), used cars and trucks (1.8%), and dairy products (2.9%). The vehicle costs had been considered a bellwether of the inflation surge and had been falling for the past three months, so the increase is a potentially ominous sign, as used vehicle prices are now up 16.1% over the past year. New vehicle prices rose 1% in May.
Employers Added 390,000 Jobs in May; Unemployment Steady at 3.6%
In May, leisure and hospitality, which includes restaurants and bars, the sector hit hardest by the pandemic, led the job gains with 84,000; professional and business services added 75,000; transportation and warehousing, 47,000; construction; 36,000; health care, 28,000; and manufacturing, 18,000.
Inflation decelerates slightly from 40-year high as CPI rises 8.3% in April
And indeed, the energy price index fell 2.7% in April compared to March, after soaring by 11% during the previous month. Within this category, the motor fuel index dropped 5.8% and the gasoline index dropped by 6.1%, and energy commodities index dipped by 5.4% compared to March.
The U.S. economy aded 428,000 net new jobs in April, the unemployment rate remained unchanged at 3.6%
While the unemployment rate remained unchanged at 3.6%, the labor participation rate fell 0.2 percentage points to 62.2% and total employment declined by 353,000
In March 431,000 jobs were added bringing the unemployment rate to a new pandemic-era low of 3.6%,
Leisure and hospitality led the way, accounting for roughly a quarter of the overall gains. That data spurred hope in the service sector that good times may be back, and stick around more sustainably.
The United States economy added 678,000 jobs and the unemployment rate dropped to 3.8 percent in February 2022, according to the jobs report for February 2022 released by the U.S. Bureau of Labor Statistics.
Job gains occurred the most in leisure and hospitality, professional and business services, health care, and construction.
Non-farm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4%
Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing.
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Non-farm payroll rose by 194,000 in September and the unemployment rate fell to 4.8%
Employers added just 194,000 jobs in September, according to a monthly snapshot from the Labor Department. That’s even worse than the anemic job gains in August and far below the pace of hiring earlier in the summer, when employers were adding around a million jobs a month.
Non-farm payrolls rose by 943,000 in July and the unemployment rate fell to 5.4%.
After the July jobs report showed the biggest employment increase in almost a year, the Biden administration is urging Americans to get vaccinated to stave off health and economic threats posed by the Delta variant.