Weekly Jobless Claims Rise to 2022 High

Aug 11, 2022
Brian Turner
Initial claims of unemployment benefits rose to the 2022 high at the end of last week.

Producer Prices In July Drop 0.5%

Aug 11, 2022
Brian Turner
Producer prices in July dropped 0.5% after rising in June and May. However, on an unadjusted basis from a year ago the wholesale price index rose.

The labor market returned to its pre-pandemic level with the payrolls expanding by 528,000 in July and unemployment rate dipping to a five-decade low of 3.5%.

Americans are driving less than during the pandemic after gasoline prices soared above $5 a gallon across the nation. With the surging shale oil production and lack of new demand, oil prices are likely to continue to decline for a while.

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June Manufactured Goods Orders Rose 2%

Aug 3, 2022
Brian Turner
New orders, shipments, inventories and unfilled manufactured goods rose in June highlighting the strength in manufacturing activities.



Job openings at the end of June fell more than estimated after retail and wholesale trade trimmed demand for workers.

The Personal Consumption Expenditure Price Index increased 6.8% in June from a year ago and rose 1% from May.

Second Quarterly GDP Decline In a Row

Jul 28, 2022
Brian Turner
The U.S. GDP shrank for the second quarter in a row but the annual pace of decline slowed. An uptick in exports were offset by the larger declines in inventory investments, government spending, and personal consumption.

The Federal Reserve held out for higher rates and highlighted its commitment to bring down the inflation to 2% target. Despite the Fed's aggressive action, the Fed is significantly lagging inflation for several months.

U.S. Retail Sales Advanced 1% In June

Jul 15, 2022
Brian Turner
June retail sales rose 1% from the revised May sales and surged 8.4% from a year ago. Resilient consumers kept spending as gasoline prices briefly topped $5 a gallon and inflation stayed at 4-decade high.



June Producer Price Index Soars 11.3%

Jul 14, 2022
Brian Turner
Producer prices soared in June on the sustained price increase in food and energy prices.

Consumer inflation accelerated in June after prices rose across the board. The CPI increased 9.1% in June and advanced 1.3% on a monthly basis.

Employers expanded payroll at a fast pace in June and jobless rate held at 3.6% for the fourth month in a row. The labor force participation rate, at 62.2%, and the employment-population ratio, at 59.9%, were little changed over the month.

The U.S. goods and services trade deficit edged lower in May but jumped from a year ago. The U.S. recorded the largest deficit with China, Germany, and Mexico.

Weekly Jobless Claims Rise to 235,000

Jul 7, 2022
Brian Turner
Weekly jobless claims rose 4,000 to 236,000 for the week ending July 2. California and Puerto Rico reported the highest insured unemployment rates of 1.9% for the week ending June 18.



The Federal Reserve policy committee reiterated its commitment in bringing inflation down close to 2% and favored restrictive policy stance and future higher rate hikes.