Retail sales unexpectedly gain in September as consumers keep spending

Consumers spent at a much faster pace than expected in September, defying expectations for a pullback amid pervasive supply chain problems, the Census Bureau reported Friday.Retail sales for the month increased by 0.7%, against the Dow Jones estimate for a decline of 0.2%. Excluding auto-related sales, the number rose 0.8%, better than the 0.5% forecast.Compared…

Share this:

Social Security cost-of-living adjustment will be 5.9% in 2022, biggest annual hike in 40 years

The Social Security cost-of-living adjustment will be 5.9% in 2022, the Social Security Administration announced Wednesday.The 5.9% COLA will be the biggest boost to Social Security beneficiaries’ checks in about 40 years.In 2021, the Social Security COLA was 1.3%. The last time the annual adjustment came close to the 2022 figure was in 2009, when…

Share this:

Economy added 943,000 jobs last month, vs. estimate for 850,000

The economy added 943,000 jobs in July, the Bureau of Labor Statistics said Friday, compared to analysts’ expectations of 850,000 positions added. It’s the biggest monthly gain since August 2020.The unemployment rate fell sharply to 5.4 percent from 5.9 percent, though 8.7 million Americans remain out of work.While likely to provide a shot of confidence…

Share this:

Dow falls 323 points amid disappointing jobs data, COVID-19 concerns

U.S. markets fell Wednesday as July private-sector jobs numbers fell below analysts’ expectations amid surging COVID-19 cases. File Photo by John Angelillo/UPI | License Photo Aug. 4 (UPI) — The Dow Jones Industrial Average fell more than 300 points on Wednesday amid disappointing jobs data. The blue-chip index dropped 323.73 points, or 0.92% and the S&P…

Share this:

Dow slides 300 points to cap off first weekly decline in a month amid inflation worries

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 3, 2020. Andrew Kelly/Reuters US stocks dropped on Friday as investor concerns about rising inflation continued to linger.A better-than-expected June retail sales report was unable to move stocks higher.US consumers spent $621 billion at…

Share this:

Biden hails jobs numbers, gets testy with questions

President BidenJoe BidenConsultants found extensive concrete deterioration at Surfside building in 2020: report Arkansas coronavirus cases reach new high for second day since the winter Emergency physician gathering photos among wreckage of Surfside building collapse MORE on Friday hailed a new report showing the U.S. added 850,000 jobs in June, describing it as “historic progress”…

Share this:

Dollar edges lower ahead of U.S. inflation data

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File PhotoGraphic: World FX rates https://tmsnrt.rs/2RBWI5ELONDON, June 25 (Reuters) – The dollar drifted lower in Europe on Friday as an agreement on U.S. infrastructure spending underpinned appetite for riskier currencies, but caution ahead…

Share this:

U.S. jobless claims dropping faster in states ending federal benefit

A sign advertising job openings is seen outside of a Starbucks in Manhattan, New York City, New York, U.S., May 26, 2021. REUTERS/Andrew KellyWASHINGTON, June 24 (Reuters) – Ongoing claims for U.S. unemployment insurance have dipped faster in recent weeks in states ending federal benefits this summer than in states keeping the $300 weekly supplement…

Share this:

U.S. fed funds futures raise odds of rate hike in early 2023 after Fed statement

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah MillisNEW YORK (Reuters) -Futures on the federal funds rate, which track short-term interest rate expectations, on Wednesday raised bets that the U.S. Federal Reserve will tighten monetary policy in early 2023 after Fed projections showed at least…

Share this: