Nonmanufacturing Activity Picked Up in the Northeast in December
According to the Philly Fed, nonmanufacturing firms reported an expansion in employment, and they reported higher prices paid and prices received.
Economy
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Personal Spending Outpaces Income Ahead of the Holidays
Bureau of Economic Analysis has released its report on personal income and spending for the month of November. Both indexes posted gains, but one has so far outpaced the other.
Philly Fed Strengthens More Than Expected in December
The Federal Reserve Bank of Philadelphia has released its final manufacturing report of 2017.
Wage Theft Cost Workers $50 Billion in 2016
U.S. workers lost an estimated $50 billion in 2016 as a result of wage theft by their employers. The amounts recovered through government agencies and legal action represent only a fraction of the loss.
For the Overall Economy, Tax Reform Is Much Ado About Nothing
Given current sentiment, if the tax reform bill passes both houses of Congress eventually, the resulting exuberant buying pressure could signal an intermediate top for the major stock indexes.
Consumer Inflation Not as Hot as Producer Inflation, but Plenty Justification for Rate Hike
After a strong reading on the Producer Price Index for November, the U.S. Department of Labor has reported a strong reading for the Consumer Price Index in that month as well.
Survey: Trump White House Is Most Corrupt Institution in the US
According to Transparency International's latest survey of Americans, 44% believe that all or most of the officials in the Trump administration are corrupt. That's worse than the 2016 survey.
November Small Business Optimism Nears All-Time High
The National Federation of Independent Business reported the second-highest reading ever on its small-business optimism index. A Republican administration in Washington and a new tax bill have lifted spirits.
Rising Producer Prices May Have Solidified Fed’s Rate Hike Care
If the Federal Reserve can get inflation up to the 2.0% to 2.5% target, then it can easily justify its quest to keep normalizing interest rates with rate hikes.
Average US Credit Card Debt at $15,564
U.S. consumers have piled up a total of $905 billion in credit card debt and a total indebtedness of nearly $13 trillion.
Black Unemployment at 7.3%
The United States added 228,000 jobs in November, and unemployment stayed at 4.1%, the lowest level in decades. However the unemployment rate among black Americans was 7.3%, which shows the extent to which black…
Overweight and Older Woman Face Huge Employment Bias
Companies are not supposed to pick new workers on the basis of race, color or creed. That usually also extends to weight and age. However, these two groups are at a distinct disadvantage when…
More Than 86,000 Homes at Risk From Southern California Wildfires
Currently raging Southern California wildfires threaten more than 86,000 homes with a replacement value of nearly $28 billion.
IMF Warns of ‘Tensions’ in Chinese Financial System
The IMF on Thursday released its financial system stability report on China. While applauding the country's growth, the IMF warns that more effort is needed both to stabilize and rationalize the China's financial system.
Economic Outlook Might Be Brighter Than Ever According to Executives
Roughly three out of four business executives have an optimistic view of the U.S. economy over the next 12 months, according to a new survey.