Other News

January Retail Sales Surpass Expectations

Trump’s presidency started on a good note with consumers as retail sales increased more than expected for January. A Commerce Department report on Wednesday showed retail sales in January were $472.1 billion, an increase of 0.04 percent over December. That went well above the 0.01 percent increased predicted by economists. […]

Consumer Prices Make Largest Gains in Four Years, But Uncertainty Ahead

After years of slow growth, consumer prices in January rose at the quickest pace in four years, putting The Federal Reserve in the spotlight to raise interest rates soon.  The consumer price index, which measures the fluctuations in costs for everything from wine to haircuts, jumped 0.6% from December to […]

Consumer Prices Rise, Inflation Creeps Higher

An acceleration in consumer prices, for the month of January, could push the Federal Reserve to raise interest rates. The consumer price index, a scale of changes in prices and goods, showed a 0.6 percent increase from December to January, Bloomberg reports. This was the largest month-over-month increase since February […]

Trade Deficit Narrows, Ending Widest Year Since 2012

The U.S. trade deficit narrowed slightly in December as exports outpaced imports, a welcome development for President Donald Trump as he sets out to shrink the gaps with America’s trading partners. The trade deficit for December was $44.3 billion. U.S. goods and services sold abroad in December surpassed imports by […]

The Cost of Minimum Wage in Home Care

For JoAnn Holmes, a 65-year-old home health aide with 30 years of experience, getting by on $10 an hour was always difficult. It got harder last year when her company cut her work back to three days a week. When she asked her employers for a reason, they said, “We […]

Restaurateur Tom Douglas have raised prices at his restaurant following the raise in minimum wage. Here he is in front of Dahlia Bakery, one of his 19 restaurants and bakeries throughout the city. Photo by Joe Mabel via Wikimedia Commons.

Restaurant prices soar in Seattle as $15 moves closer

When Tom Douglas first heard about the plans of raising the minimum wage in Seattle to $15 an hour, he knew what it would mean for his business: higher costs. And he knew what that would mean for his customers, too: higher prices. Douglas, a 57-year-old chef and restaurateur, owns […]

Key things to watch in the Personal Income and Outlays report

At 8:30 on Friday, the U.S. Department of Commerce will release its monthly report on Personal Income and Outlays for March. Economists polled by Bloomberg predict a modest rise for the Personal Income, with a median estimate of 0.3% gain. The median estimate on the consumptions is at a weak […]