By Jeff Cox, CNBC September’s wage gains provided more fuel to the argument that the current pace of inflation could run longer than many economists anticipate. Average hourly earnings rose 0.6% for the month, making the year-over-year increase 4.6%. Over the past six months, wages are running at an average
By Jeff Cox, CNBC Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday. Sales increased 0.7% for the month against the Dow Jones estimate of a decline of 0.8%. A separate economic
By Megan Henney, FOX Business Americans’ confidence in the U.S. economy is waning as the highly contagious delta variant drives a COVID-19 surge nationwide. That’s according to a new survey published Friday by Gallup, which found that 60% of respondents think the economy is worsening, compared to just 37% who
By Megan Henney, FOX Business The Biden administration said Thursday that extra unemployment benefits put in place to keep out-of-work Americans afloat during the coronavirus pandemic will end as planned next month, but encouraged states with high jobless rates to repurpose federal relief money in order to extend the aid.
By Talia Kaplan, FOX Business Former Heinz CEO Bill Johnson told “Cavuto: Coast to Coast” on Thursday he is “very” worried about inflation, noting that “we’re seeing pressures that we’ve never seen before even across the entire food chain.” Johnson noted that inflation is having a “huge impact” on “simple
By Megan Henney, FOX Business The International Monetary Fund warned on Tuesday that a recent inflation burst could prove longer lasting than expected, forcing central banks across the world to take action to address the rising cost of goods and services. “Aftershocks from the pandemic upheaval of last year pose
By Celine Castronuovo, The Hill Consumer confidence continued to rise in July and is now nearing pre-pandemic levels amid a boost in economic activity following loosened coronavirus restrictions. The Conference Board’s monthly survey found that while the consumer confidence index had a modest increase from 128.9 in June to 129.1
By Anneken Tappe, CNN Business New York (CNN Business) – America’s economy isn’t back to normal yet, and much of the recovery depends on consumers: how much they’re spending, how much they decide to participate in public life and even whether they work remotely. And while economists don’t believe a
By Diana Olick, CNBC Sales of newly built homes dropped in June to the lowest level since the early days of the coronavirus pandemic in April 2020, according to data released by the U.S. Census Bureau on Monday. Sales of new single family homes fell to an annualized rate of
By Will Feuer, NY Times Nearly 3.5 million Americans are still on traditional state unemployment benefits even as the number of people seeking new claims dropped last week to a fresh pandemic low, the feds said Thursday. Continuing claims rose by 56,000 from about 3.4 million the week before, according
