Bump when these numbers move

WASHINGTON (AP) — Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households.  

Robert J Sakimano wrote:great news for Americans heading into the holidays.

WASHINGTON (AP) — Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households.  

I would hope that even America-hating republicans and mainstream media would welcome this as good news.

Caution: Mainstream Media Link

Schwab Market Update wrote:U.S. stocks are soaring following the release of the Consumer Price Index

At 10:51 a.m. ET, the Dow Jones Industrial Average is increasing 0.6%, the S&P 500 Index is climbing 1.5%, and the Nasdaq Composite is soaring 2.1%. WTI crude oil is rising $1.68 to $74.85 per barrel, and Brent crude oil is gaining $2.35 at $80.34 per barrel. The gold spot price is trading $32.80 higher to $1,825.10 per ounce, and the Dollar Index is down 1.2% to 103.95.

GRR Spartan wrote:There are a few people in this world who control the price of oil and none come from democracies.

However the same low information voters who are manipulated by GOP pols about gas prices are the same ones howling about record inflation that’s 50% lower than in 1980 and cry about the deficits that have their biggest creases with the GOP in The White House.

Total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, construction, and social assistance.

The number of long-term unemployed (those jobless for 27 weeks or more) declined by 146,000to 1.1 million in December. This measure is down from 2.0 million a year earlier. The long-term unemployed accounted for 18.5 percent of all unemployed persons. (See table A-12.)

The employment-population ratio increased by 0.2 percentage point over the month to 60.1 percent. The labor force participation rate was little changed at 62.3 percent. Both measures have shown little net change since early 2022. These measures are each 1.0 percentage point below their values in February 2020, prior to the coronavirus (COVID-19) pandemic. (See table A-1.)


In December, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents, or 0.3 percent, to $32.82. Over the past 12 months, average hourly earnings have increased by 4.6 percent. In December, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.2 percent, to $28.07. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls declined by 0.1 hour to 34.3 hours in December. In manufacturing, the average workweek for all employees was little changed at 40.1 hours, and overtime declined by 0.2 hour to 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls decreased by 0.1 hour to 33.8 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for October was revised down by 21,000, from +284,000 to +263,000, and the change for November was revised down by 7,000, from +263,000 to +256,000. With these revisions, employment gains in October and November combined were 28,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

In 2019, just before the pandemic, 57 percent of Americans in their early 60s were still working, compared with 46 percent of that age group two decades earlier.

The pandemic, which made in-person interactions particularly dangerous for older workers, accelerated their departure from the work force. Among Americans ages 55 to 64 — the oldest members of Generation X and the youngest boomers — the share of people who are working or seeking jobs has rebounded to its prepandemic level. But for those 65 and up, that rate remains depressed.

The U.S. economy grew at an annual rate of 2.9 percent in the fourth quarter.

“The economy continued to motor on,” said Michael Gapen, chief U.S. economist for Bank of America. “There’s more momentum in the economy at year-end than we thought, and a lot of that is from households.”

Schwab Market Update wrote:The ADP Employment Change Report showed private sector payrolls rose by 106,000 jobs in January, below the Bloomberg forecast calling for a 180,000 gain, while the prior month's figure was upwardly revised to a 253,000 increase. The report, which does not include government hiring and firing, comes ahead of Friday's broader January nonfarm payroll release, expected to show headline and private sector job growth both rose by 190,000. The unemployment rate is forecasted to tick higher to 3.6% from 3.5% and average hourly earnings are projected to rise 0.3% month-over-month (m/m) and be up 4.3% y/y.

BLS wrote:Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers from a strike.

BLS wrote:The change in total nonfarm payroll employment for November was revised up by 34,000, from +256,000 to +290,000, and the change for December was revised up by 37,000, from +223,000 to +260,000. With these revisions, employment gains in November and December combined were 71,000 higher than previously reported.

Trapper Gus wrote:

BLS wrote:Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers from a strike.

BLS wrote:The change in total nonfarm payroll employment for November was revised up by 34,000, from +256,000 to +290,000, and the change for December was revised up by 37,000, from +223,000 to +260,000. With these revisions, employment gains in November and December combined were 71,000 higher than previously reported.

https://www.bls.gov/news.release/empsit.nr0.htm

Job's report blows Wall Street estimates out of the water, two and one half time the estimated job increase and a 0.1% drop on the UE instead of a 0.1% increase.



edit - bump

DWags wrote:

Trapper Gus wrote:



https://www.bls.gov/news.release/empsit.nr0.htm

Job's report blows Wall Street estimates out of the water, two and one half time the estimated job increase and a 0.1% drop on the UE instead of a 0.1% increase.



edit - bump

Wow. That’s crazy.  

AP wrote:The labor force participation rate increased to 62.4% from December's unrevised 62.3% figure, where it was expected to remain.

AP wrote:Applications for jobless claims in the U.S. for the week ending February 25 fell to 190,000 from 192,000 the previous week, the Labor Department said Thursday. It’s the seventh straight week claims were under 200,000.

The four-week moving average of claims, which evens out some of the weekly volatility, rose by 1,750 to 193,000, remaining below the 200,000 threshold for the sixth straight week.

tBLS wrote:Total nonfarm payroll employment rose by 311,000 in February, and the unemployment rate edged up to 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, retail trade, government, and health care. Employment declined in information and in transportation and warehousing.

Washington, DC CNN  —

The median price of a US home was lower this February than it was in February 2022, ending more than a decade of year-over-year increases, the longest on record, according to a National Association of Realtors report released Tuesday.  

Trapper Gus wrote:Any guesses on how the market reacts to the Trump indictment?

My guess is it goes up.

Stocks ended a volatile quarter solidly in the green, thanks to a healthy rally among tech companies.

The S&P 500 rose 7% during the quarter, and the Nasdaq composite climbed nearly 17%.
It was the second straight quarter in the green for the S&P.

Total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care.

The labor force participation rate, at 62.6 percent, continued to trend up in March. The employment-population ratio edged up over the month to 60.4 percent. These measures remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1 percent, respectively). (See table A-1.)

In March, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents, or 0.3 percent, to $33.18. Over the past 12 months, average hourly earnings have increased by 4.2 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3 percent, to $28.50. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised down by 32,000, from +504,000 to +472,000, and the change for February was revised up by 15,000, from +311,000 to +326,000. With these revisions, employment in January and February combined is 17,000 lower than previously reported.

NEW YORK (AP) — A relieved Wall Street is rising after a report showed inflation is making strides toward easing, even if it remains too high. The S&P 500 was 0.3% higher early Wednesday. The Dow little changed while the Nasdaq composite rose 0.7%. Bond prices also climbed after the highly anticipated report said inflation at the consumer level was 4.9% last month, down from 5% in March and the lowest level in two years. That was slightly better than expected, allowing investors to bolster bets that the Federal Reserve will stop hiking interest rates and give the economy some breathing room.

Fewer Americans applied for jobless benefits last week after a previous spike that some took as a sign that higher interest rates were finally cooling the labor market.

Applications for jobless claims for the week ending May 6 fell by 22,000 to 242,000, from 264,000 the week before, the Labor Department reported Thursday. The weekly claims numbers are broadly as representative of the number of U.S. layoffs.

The four-week moving average of claims, which flattens some of the week-to-week fluctuations, ticked down by 1,000 to 244,250. Analysts have pointed to a sustained increase in the four-week averages as a sign that layoffs are accelerating, but are reluctant to predict that a spike in layoffs is imminent.

Total nonfarm payroll employment increased by 339,000 in May, and the unemployment rate rose by 0.3 percentage point to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.

The labor force participation rate held at 62.6 percent in May, and the employment-population ratio, at 60.3 percent, was little changed.

Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction.

In June, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.4 percent, to $33.58. Over the past 12 months, average hourly earnings have increased by 4.4 percent. In June, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.4 percent, to $28.83

AvgMSUJoe wrote:Despite all if the good news, Dingleberry said they will probably raise rates again... seems like he's not going to be happy until millions of 'mericans lose their jobs.