-
Market Trends
Weekly Economic Review | May 30, 2023
May 30, 2023
The Labor Department reported that initial jobless claims edged higher last week, but significant revisions to past jobless claims reports suggest the claims data need to be taken with a grain of salt. Initial claims in the two weeks through May 13th were revised down by a combined 50,000 after Massachusetts detected a surge in fraud. The revision suggests the labor market isn’t softening as much as previously thought. Claims in regular state programs climbed 4,000 to 229,000 for the week ending May 20th. The four-week moving average remained unchanged at 231,750. Continuing claims, which include people who have received unemployment benefits for a week or more, fell 5,000 to 1.794 million for the week ending May 13th.
Read more → -
The Economy & Strategies
America Is $31 Trillion in Debt: Should You Worry?
May 16, 2023
Last week saw the second-largest bank failure in American history. In fact, the three banks that have failed so far this year had more assets under management than the 25 banks that went under at the onset of the Global Economic Crisis in 2008. Also last week we experienced a market sell-off, continued inflation, a Fed interest rate hike, and a government stand-off over the debt ceiling.
Read more → -
April Consumer Price Index Update
May 10, 2023
Read more → -
Fed Raises Federal Funds Rate to Range of 5.00-5.25%
May 3, 2023
Read more → -
Latest GDP Commentary
Apr 27, 2023
Read more → -
Market Trends
Weekly Economic Review | April 24, 2023
Apr 24, 2023
The Labor Department reported that initial jobless claims rose again last week, continuing their gradual climb since the beginning of the year. Continuing claims have reached their highest level since November of 2021. The pickup in claims adds to signs that the labor market is beginning to lose momentum. Claims in regular state programs climbed 5,000 to 245,000 for the week ending April 15th. The four-week moving average edged lower to 239,750 from 240,250 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, rose 61,000 to 1.865 million for the week ending April 8th.
Read more → -
The Economy & Strategies
Is It Time To Bid Farewell to a Dollar-Dominated World?
Apr 19, 2023
When Brazil’s president addressed the New Development Bank in Shanghai last week, he urged developing countries to do what his country recently did: conduct international trade in a currency other than the American dollar. “Every night I ask myself why all countries have to base their trade on the dollar,” the Brazilian president, Luiz Inácio Lula da Silva, said during his first state visit to China.
Read more → -
Market Trends
Weekly Economic Review | April 17, 2023
Apr 17, 2023
The Labor Department reported that initial jobless claims rose last week, continuing their gradual climb since the beginning of the year. The gains reflect cuts from tech and financial firms and come mostly from California. Claims in regular state programs climbed 11,000 to 239,000 for the week ending April 8th. The four-week moving average increased to 240,000 from 237,750 the prior week. Both initial and continuing claims are above their pre-pandemic averages, signaling that labor market conditions are cooling. Continuing claims, which include people who have received unemployment benefits for a week or more, fell by 13,000 to 1.810 million for the week ending April 1st.
Read more → -
Market Trends
Consumer Price Index Update March 2023
Apr 12, 2023
Read more → -
Market Trends
Weekly Economic Review | April 10, 2023
Apr 10, 2023
The Labor Department reported that initial jobless claims fell last week, but the data reflects updated seasonal factors that raise the level of underlying claims. Claims numbers have been artificially low stemming from pandemic-related problems in seasonally adjusting the data. Claims in regular state programs fell 18,000 to 228,000 for the week ending April 1st, but that is after the prior week’s figure was revised up by 48,000 to 246,000. The four-week moving average declined to 237,750 from 242,000 the prior week. Both initial and continuing claims are above their pre-pandemic averages, signaling that labor market conditions are cooling. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased by 6,000 to 1.823 million for the week ending March 25th.
Read more →