U.S. Economic News

U.S. Economic News

February 11, 2021

U.S. Economic Indicators

Initial jobless claims fell 19,000 to 793,000 last week. The four-week moving average decreased 33,500 to 823,000. DOL Report

U.S. News

Bloomberg reports that, alongside expectations of a strong economic recovery, some unintended consequences of fighting climate change may be driving a new “supercycle” of years-long commodity gains. Already, prices for corn, soybean, copper, and oil have soared to multi-year highs after substantial drops in mid-2020, while bullish wagers on commodities are the highest in a decade. Bloomberg

U.S. Economic News

U.S. Economic News

February 10, 2021

U.S. Economic Indicators

Consumer prices rose 0.3% in January (up 1.4% from a year ago). The “core” CPI, which excludes food and energy, was unchanged in January but up 1.4% from last year. BLS Report

U.S. News

The Wall Street Journal reports that despite a corporate borrowing binge throughout 2020, large U.S. banks saw loan volume decline for the first time in over a decade. However, bank executives are hopeful that loan growth will pick back up in 2021, though the timing will depend on the pace of vaccine deployment and additional federal stimulus. WSJ

U.S. Economic News

U.S. Economic News

February 9, 2021

U.S. Economic Indicators

The NFIB Small Business Optimism Index declined to 95.0 in January as four components weakened, two improved, and four were unchanged. The decline in the index was primarily driven by a decrease in expectations for economic improvement, with the number of owners expecting better business conditions over the next two quarters now lower than in any other period since 2013. NFIB Report

The Job Openings and Labor Turnover Survey (“JOLTS”) indicated that the number of job openings was little changed at 6.6 million in December. The number of hires decreased to 5.5 million, while the layoffs and discharges rate was little changed at 1.3%. BLS Report

U.S. Economic News

U.S. Economic News

February 8, 2021

U.S. News

The Wall Street Journal reports that crude oil prices have surged to their highest levels in over a year, fueled by recovering demand, depleting stockpiles, and continued production curbs. As a result, American consumers can expect to see higher retail fuel prices in two to four weeks, though analysts don’t expect any major impacts to fuel prices. WSJ

Bloomberg reports that roughly 5 million Americans – more than 5% of U.S. renters and mortgage holders – did not pay their rent or mortgage in December. While the percentage of households behind on their payments has decreased since last June, elevated financial stress remains for many Americans, including another 3.5 million renters and mortgage holders at risk of eviction or foreclosure. Bloomberg

U.S. Economic News

U.S. Economic News

February 5, 2021

U.S. Economic Indicators

The U.S. economy gained 49,000 jobs in January, roughly in line with expectations. The unemployment rate declined by 0.4 percentage point to 6.3%, and the labor force participation rate ticked down 0.1 percentage point to 61.4%. BLS Report

The U.S. trade deficit narrowed from $69.0 billion (revised) in November to $66.6 billion in December. The goods deficit fell by $2.8 billion, while the services surplus fell by $0.4 billion. Census Bureau Report