Job Openings Unexpectedly Surge But 1/3 Are Government Work
U.S. job openings unexpectedly surged in August, the first increase in three months, driven by increases in government, construction, shipping and warehousing jobs. The number of U.S. job vacancies reached 8 million as of the last business day of August, surpassing the 3-1/2-year low of 7.7 jobs set in July, the Labor Department said in […]
Retail Sales Unexpectedly Rose in August, Lowering Chances of a Bigger Rate Cut
U.S. consumers unexpectedly increased spending in August, defying expectations that a softening labor market would dampen retail purchases. Retail sales rose 0.1% in August, Commerce Department data released Tuesday showed, after an upward revision to a 1.1% increase the previous month. While rising sales are unlikely to derail the Federal Reserve's plans to cut interest […]
US retail sales unexpectedly rise, lowering odds for big rate cut
U.S. retail sales unexpectedly rose last month, a surprisingly strong result that likely reduces the likelihood of a big interest rate cut from the Federal Reserve this week. Retail purchases rose 0.1% in August, Commerce Department data released Tuesday showed, beating economists' expectations of a 0.2% decline as cash-strapped consumers showed resilience despite a shaky […]
Wholesale price figure rises unexpectedly in August
Core wholesale prices, which exclude volatile food and energy prices, rose more than expected, further dampening hopes for a 50 basis point rate cut next week. The U.S. government's producer price index, which tracks the costs of goods and services from domestic producers, rose 0.2% last month, in line with economists' expectations, according to a […]
Consumer Price Index eases, but core inflation rises unexpectedly
A surprise rise in a measure of underlying inflation last month dampened hopes of a big interest rate cut at the Federal Reserve's meeting next week. According to the U.S. Bureau of Labor Statistics, the consumer price index rose 2.5% in August from a year earlier and 0.2% from the previous month, in line with […]
Core Durable Goods Orders Unexpectedly Tumble
U.S. orders for core capital goods fell 0.1 percent in July, the latest sign of weakness in U.S. manufacturing. Core capital goods are durable goods excluding military products and aircraft. Orders have declined month-over-month in four of the first seven months of this year. Compared to the first seven months of 2023, orders for non-defense […]
Housing Starts Unexpectedly Plunged In July
Homebuilders backed away from new homebuilding and construction plans in July, threatening to worsen home affordability in the United States. The Census Bureau said Friday that the pace of new project starts fell 6.8% to a seasonally adjusted annual rate of 1.238 million. Economists had been expecting a pace of 1.342 million. The number of […]
US job growth slows to 114K in July while unemployment unexpectedly jumps
Construction is booming in states such as Arizona, California, Florida and Texas. U.S. job growth slowed sharply in July and the unemployment rate unexpectedly rose to its highest level in nearly three years. The Labor Department said on Friday that employers 114,000 jobs The number of people employed in July rose by 15,000 year-on-year, short […]
PGA Tour winner and broadcaster Mark Carnevale dies ‘unexpectedly’ at 64
Mark Carnevale, former PGA TOUR The golfer and longtime announcer died “suddenly” on Monday, more than a week after covering the Genesis Scottish Open, the tour confirmed. He was 64 years old. “Mark was a long-time and beloved member of the Tour family,” PGA Tour Commissioner Jay Monahan said in a statement. Mark Carnevale hits […]
Consumer Sentiment Unexpectedly Sinks To 8 Month Low
The Biden campaign had hoped that a recent drop in inflation might lift voters’ views of the economy, but those hopes took a hit on Friday after the University of Michigan said its gauge of consumer sentiment fell to its lowest level in eight months in early July. Preliminary results from the University of Michigan […]