It’s not exactly a workers’ paradise, but with businesses struggling to hire employees and the “Great Resignation” in full swing, workers still have the upper hand, albeit a little less so than previously, according to the Bureau of Labor Statistics.
Tag: Wells Fargo Economics
Strong February Jobs Report Gives Fed Momentum for March Rate Hike
For the second straight month, employment numbers beat expectations, with the Bureau of Labor Statistics reporting Friday that employment rose by 678,000 in February.
Construction Posts 6th Straight Monthly Gain
Monthly construction spending started the year strongly, increasing for the sixth consecutive month, the Census Bureau reported Tuesday.
January New Home Sales Down 4.5%
January new home sales fell by 4.5% amid supply chain and inventory shortages, HUD and the Census Bureau reported Thursday.
Consumer Confidence Falls 2nd Straight Month
The Conference Board, New York, said its Consumer Confidence Index fell for the second straight month in February to its lowest level since October, as expectations continued to weaken.
Home Prices Finish Year at Highest Rate of Increase in 34 Years
The S&P CoreLogic Case-Shiller Home Price Indexes finished 2021 with the single-highest rate of increase in 34 years of data-keeping. In a separate report, the Federal Housing Finance Agency said 2021 home prices rose by 17.5 percent.
Existing Home Sales Fire Up as Rates Rise
Ahead of rapidly rising interest rates and a dearth of new housing, the National Association of Realtors on Friday said January existing home sales jumped by nearly 7 percent from December.
January Housing Starts Down 4.1%
Housing starts stumbled out the gate in January amid ongoing supply chain issues and labor shortages, HUD and the Census Bureau reported Thursday.
Consumer Prices Roar Ahead
The Consumer Price Index rose by another 0.6 percent in January and by an eye-catching 7.5 percent from a year ago, the Bureau of Labor Statistics reported Thursday.
Inflation Takes Toll on Small Business Optimism
The National Federation of Independent Businesses Small Business Optimism Index decreased in January amid rising concerns over inflation’s impact.