A petrol attendant stands next to a newspaper headline in Pretoria, South Africa, Saturday, Nov. 27, … [+] 2021. As the world grapples with the emergence of the new variant of COVID-19, scientists in South Africa — where omicron was first identified — are scrambling to combat its spread across the country. (AP Photo/Denis Farrell)…
But there are still 7.4 million unemployed people out there and slashed benefits. Source link
Topline New jobless claims fell substantially last week to their lowest level in 52 years—faring much better than economists were expecting and continuing a slew of promising developments for the labor market, which has staged an encouraging comeback in recent weeks despite struggling to add back workers who lost jobs during the pandemic. Economists were…
Topline New jobless claims ticked down to their lowest level during the pandemic last week, falling for the seventh-straight week and adding to a slew of promising developments for the labor market, which has struggled to add back workers who left jobs last year but has nevertheless staged an encouraging comeback as the recent wave…
FRED: Personal Consumption Expenditures Invictus, Mauldin The major market moving event last week (ended November 13) was Wednesday’s CPI release showing a three-decade high level of inflation (6.2% Y/Y; 0.9% M/M). The data surprised to the upside, especially after Tuesday’s rather benign PPI release. The core metric, which excludes food and energy, increased by 0.4% M/M and…
Baltic Dry Index Bloomberg The Fed meeting and the October jobs report were the dominating market events in November’s first week. Both moved equity markets higher. On Wednesday, Fed appeared to have moved to a more dovish position regarding future interest rates than shown in their September “dot plots,” which markets use to judge when…
Taxpayers who received unemployment compensation in 2020 may want to amend their tax returns. getty Many taxpayers learned that unemployment benefits are taxable the hard way earlier this year when they filed their 2020 income tax returns. It came as such a blow to so many people, after what was a horrible year in so…
Pre-Pandemic Real GDP Universal Value Advisors Dichlorodiphenyltrichloroethane, commonly known as DDT, was a colorless, tasteless and nearly odorless insecticide used extensively in U.S. agriculture in the 1950s and 1960s. Because of its negative health and environmental impacts, it was banned in the U.S. in 1972. Today’s U.S. and developed world economies have within themselves the equivalent of…
Topline Amid heated debate in Washington over whether government spending is fueling a rise in inflation, new research from the Federal Reserve Bank of San Francisco suggests that the Biden administration’s latest stimulus package is contributing to a spike in prices. A regional Fed analysis argued that Biden’s stimulus package is boosting near-term inflation. Joe…
Pre-pandemic Real GDP Universal Value Advisors Over the last several blogs, we have opined that the pandemic hasn’t changed the economy’s potential growth path. The chart shows GDP growth rates beginning in the mid-1990s (with the Atlanta Fed’s +1.3% Q3/2021 forecast). The horizontal line shows a 2% growth level. Note that the left-hand side of the chart shows…