Tag Archives: US Economy

There were 376,000 initial claims for unemployment benefits in the US during the week ending June 5, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in weaker than the market expectation of 370,000 and followed the previous print of 385,000.

Markets are anticipating the release of the U.S. consumer price index (CPI) reading for May on Thursday, with expectations of a surge in the inflation rate. Data by the United States Bureau of Labor Statistics are likely to show that an inflation reading of 4.7% last month, with core inflation …

Job openings in the United States surged in April to a new record, with the economy showing more signs of recovery from the coronavirus pandemic. Reopening businesses and an increased rollout of vaccines have helped economic activity create more work opportunities. The Job Openings and Labor Turnover Survey (JOLTS) showed …

The goods and services deficit of the US declined by $6.1 billion to $68.9 billion in April from $75 billion in March, the US Census Bureau reported on Tuesday. This reading came in slightly better than the market expectation of $69 billion.

Recent media reports have pointed to growing opposition, within Republicans in the United States Senate, against the recent deal that the G7 summit announced to establish an agreement among major economies on a minimum corporate tax rate. The move comes shortly after the Republican Party came against the proposal of …

The U.S. services sector’s economic activity expanded in May, maintaining growth for the 12th month in a row, data showed on Thursday. The Institute for Supply Management(ISM) Services Purchasing Managers Index (PMI) reached a new all-time record high in May, registering 64%, after rising by 1.3% compared with its level …

Markets await the release of a bundle of jobs and employment reports in the United States, which are set to show more indicators about the progress of economic recovery from the coronavirus pandemic. May’s employment data will come following April’s disappointing nonfarm payrolls reading. A recent reading of the ISM …

The labor market in the United States might be showing some positive signs as the economy recovers from the coronavirus pandemic, but it remains to be challenged by some problems some of which might be unnoticed. A paper by the Federal Reserve Bank of San Francisco showed on Tuesday that …

Factory activity in Texas expanded at a slower pace last month, according to the latest data by the Federal Reserve Bank of Dallas. The Texas Manufacturing Outlook Survey results showed on Tuesday that the production index decreased by 18 points to 15.7 in May. The new orders index registered a …

Financial literacy plays a huge role in achieving economic stability, according to Secretary of the U.S. Treasury Department, Janet Yellen. Speaking to the Financial Literacy and Education Commission, Yellen said that more financial literacy is needed but is not a magic solution, especially considering structural disadvantages, wealth gaps, and income …