By Robert Romano There are no more Americans who say they are employed than one year ago, the latest data from the Bureau of Economic Analysis’ household survey shows for the month of August, with 161.43 million saying they have jobs, compared to 161.5 million in Aug. 2023. On a year over year basis, […]
By Robert Romano U.S. labor markets continued showing signs of weakening as job openings fell to 7.6 million in July, the lowest level since Feb. 2021. Job openings are now 4.6 million below their March 2022 high of 12.2 million, a more than 37 percent drop. This is what […]
By Robert Romano The Institute for Supply Management (ISM) manufacturing index once again showed signs of contracting, coming in at 47.2 in August — anything less than 50 indicates less than half of firms reported expansion — which marks the 21 out of the past 22 months showing contraction. The index itself tends to dip during […]
By Robert Romano The U.S. employment level in the Bureau of Labor Statistics’ household survey has barely grown the past year, only increasing at 0.03 percent since July 2023 , from 161.2 million to 161.26 million, with just 57,000 more people saying they’re employed today than a year ago. This puts the U.S. economy at […]
By Robert Romano Upon accepting the Democratic Party presidential nomination for 2024 on Aug. 22 in President Joe Biden’s stead, Vice President Kamala Harris delivered a short speech wherein she never mentioned inflation by name even though it is by far the top issue in the campaign alongside the economy among voters, according to recent […]
By Robert Romano The Federal Reserve released the minutes of its most recent minutes of its July 30 and July 31 meeting it is ready to begin cutting interest rates to deal with rising unemployment, with the central bank reporting, “The staff’s outlook for growth in the second half of 2024 […]
By Robert Romano Don’t look now, but labor markets might be much weaker than previously thought — and that could be bad news for Vice President Kamala Harris’ 2024 election bid against former President Donald Trump. The Bureau of Labor Statistics (BLS) published its preliminary annual revision […]
By Robert Romano “Wages up, inflation down, way down and continuing to go down.” That was President Joe Biden in his political farewell address to Democrats assembled in Chicago, Ill. for the Democratic National Convention on Aug. 20 that is nominating Vice President Kamala Harris as the party’s nominee, touting in part his administration’s economic record since […]
By Robert Romano Vice President Kamala Harris’ campaign has unveiled a new scheme to facilitate home building and home purchases with hundreds of billions of dollars of subsidies, including a $25,000 first-time homebuyer subsidy, said by the campaign to cost $100 billion to facilitate 1 million first-time home purchases a year over the next […]
