The cost of living has risen for leisure and hospitality workers while a hot labor market has spurred salary growth for low-paid workers – but this growth is starting to slow down. Marielle Fabie-Hussey, like many restaurant workers, left her job during the pandemic due to lost hours, burnout, and […]
The US Commerce Department will publish its March durable goods advanced report Tuesday at 8:30 a.m. EST. Economists are spread wide on what they expect to see since February’s report was the first significant decline in more than a year. Here’s what to watch for: Slow growth and possible recession […]
Inflation hit historic highs last month as lingering supply chain issues and global tensions over Russia’s war with Ukraine dashed policymakers’ hopes that consumer prices would moderate. The Consumer Price Index (CPI) climbed 7.9% in the 12 months through February — the fastest rise in year-over-year inflation since 1982. The […]
The U.S. Census Bureau releases its February advance retail sales report on Monday. Major economists predict on average a gain of about 0.2% from January’s numbers. January’s report showed that the U.S. economy was still growing slowly compared to a year earlier. But if February’s data fails to meet expectations, […]
Personal income increased in January, as employer optimism surrounding the recent tax bill made its way to consumers’ wallets. The 0.4% increase in January released Thursday by the Bureau of Economic Analysis exceeded analyst expectations. Disposable personal income, or the money households make after taxes, showed a more dramatic rise […]
Stevie-Lynn Pickel and her fiancé, Adonis Smith, put money into a joint savings account whenever they can. The couple has a two-year plan: save up $35,000 for a down payment on a three-bedroom house, move out of the condominium they’re renting in Waterbury, Connecticut and then get married. “We want […]
It’ll be a spring thaw: Housing starts likely jumped as soon as the weather warmed up in March, even as concerns remain about the cost of land and labor. Starts will rise to a seasonally adjusted annualized pace of 970,000 when the Census releases its home-construction report tomorrow morning, according […]
The United States saw its trade deficit widen for the second month as the cold weather and weak global economy continued to hamper movement of goods. But with the cold weather waning, next month’s figures are expected to perform better. The trade deficit increased to $42.3 billion in February up […]
Weather held U.S. housing starts flat in February, even as the sector showed signs it would grow in spring. Starts dropped to a seasonally adjusted, annualized pace of 907,000 in February, a mere 0.2 percent below January’s revised estimate of 909,000, according to data released jointly on March 18 by […]
The United States’ trade deficit slightly rose in January prompting speculation the rest of the year will not fare better. The trade deficit increased slightly to $39.1 billion in January from December’s revised number of $39 billion, the Commerce Department said Friday, despite an increase in exports. Compared to January […]