January 12, 2018
Retail sales showed a solid 0.4% gain in December, supported by the holiday season and high consumer confidence in the economy that translated into a willingness to spend.
Job openings (a measure of labor demand) remained at a historically strong level in November despite falling from 5.93 to 5.88 million, according to the Department of Labor’s Job Openings and Labor Turnover Survey. Hires slowed by 104,000 to 5.49 million and continued to lag the number of available jobs. Analysts suggested that the survey’s low quit-rate reading... More >
December 15, 2017
The U.S. economy added 228,000 jobs in November—better than economists’ expectations, but less than the previous month’s strong gain. The unemployment rate held at 4.1%, its lowest level since December 2000. Wage growth remained historically low, rising by only 2.5% year over year.
Revised non-farm productivity was flat at 3% in the third quarter. Output climbed by 4.1%, while unit labor costs retreated by 0.2%.
Initial jobless claims slid by 2,000 to 236,000, their third straight weekly decline, in the week ending December... More >
December 6, 2017
An upward revision to third-quarter gross domestic product (GDP) produced a better-than-expected preliminary reading of 3.3% annualized growth, thanks to nonresidential fixed investments and state and local government spending, as well as a holiday-related uptick in inventory investment. Federal Reserve (Fed) watchers believe that the report should keep the central bank on track for this year’s third interest-rate increase at its meeting later this month.
October new-home sales jumped by 6.2% to an annualized rate of 685,... More >
November 28, 2017
The University of Michigan’s consumer sentiment index (which measures Americans’ financial conditions and attitudes about the economy) edged higher in November, with sustained strength in the current conditions and expectations components.
The Conference Board’s index of leading economic indicators rebounded from last month’s hurricane-impacted report to a better-than-expected 1.2% surge in October. The reading, used by economists to gauge the health of the U.S. economy, points to continued economic acceleration and strength... More >
November 17, 2017
Consumer prices increased by 0.1% in October and by 2.0% year over year; moderating energy prices mitigated the effects of climbing rental and healthcare costs. The more closely followed core rate (which removes the effects of food and energy) firmed to 1.8%, likely keeping the Federal Reserve (Fed) on track for this year’s third interest-rate hike in December. Producer prices rose by 0.4% for the month, as trade service prices gained and energy expenses declined.
Import prices inched up by 0.2% in October, as lower food... More >
November 15, 2017
The EconomyJob openings (a measure of labor demand) remained at a historically strong 6.09 million in September, according to the Department of Labor’s Job Openings and Labor Turnover Survey. Hires were flat at 5.3 million as employers continued to struggle with finding qualified staff at competitive wages. A lack of skilled employees (who require higher pay) may provide further impetus for the Federal Reserve (Fed) to keep a December rate hike on the table. Outstanding consumer credit (which measures non-mortgage debt) accelerated by 6.6% in September, the fastest pace in 10... More >
November 9, 2017
The EconomyThe U.S. economy added 261,000 jobs in October—less than economists’ expectations of over 300,000, but significantly more than the previous month’s tiny gain. Unemployment sunk to 4.1%, its lowest level since December 2000. Wage growth remained challenged, rising by only 2.4% year over year. The Federal Reserve (Fed) left interest rates unchanged in a unanimous vote, despite moderate economic expansion and a solid labor market. The central bank’s official statement reinforced the likelihood of a third rate hike at the December meeting, in addition to the three hikes... More >
October 11, 2017
The U.S. economy lost 33,000 jobs in September, the first monthly decline since 2010, despite consensus forecasts of 100,000 new positions. The total labor force nevertheless surged to a record high, as the unemployment rate fell to a 16-year low of 4.2%. Average hourly earnings recorded the largest monthly gain in 10 years, spiking 0.5% after recent disappointing reports.
Initial jobless claims fell by 23,000 to 259,000 in the week ending September 30; claims from hurricane-affected Florida and Texas both dropped. The more-stable four-... More >
September 18, 2017
On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that exposed vital personal identification data — including names, addresses, birth dates, and Social Security numbers — on as many as 143 million consumers, roughly 55% of Americans age 18 and older. 1
This data breach was especially egregious because the company reportedly first learned of the breach on July 29 and waited roughly six weeks before making it public (hackers first gained access between mid-May and July) and three senior Equifax executives... More >
August 16, 2017"Broke college student?" Not for long!
BY MARISSA LALIBERTE
Originally on: http://www.rd.com/advice/saving-money/money-management-for-teens/
Having the self-discipline not to spend every cent of every paycheck can be tough. To make it easy, have teens set up their accounts so part of their paychecks automatically go into a separate savings account, recommends financial consultant Robin Taub, CPA, CA, author of A Parent’s Guide to Raising Money-Smart Kids... More >