Category: TRENDS ON THE U.S. ECONOMIC FRONT

The median price for a U.S, single-family home in 2021’s third quarter reached $363,700, 16 percent higher than a year earlier and the fastest rate of increase since 1968, the National Association of Realtors (NAR) reported. Prices were up in 182 of the 183 metro areas the NAR monitors, the association said, with 142 of...

Companies making industrial robots fielded orders for about 29,000 machines worth $1.48 billion this year through September, besting 2017’s record of $1.47 billion set over the same period and speeding past the $1.09 billion worth of robots sold in the first nine months of last year, according to the Association for Advancing Automation (A3).  “With...

About 4.43 million Americans quit their jobs in September, which is the most on record since December 2000, in a shift that some have called “The Great Resignation,” according to the Labor Department.  The resignations were seen as a positive sign for the jobs market due to the optimism these workers have that they’ll land...

On 5 November, 11.2 million U.S. jobs stood vacant, 50 percent more than the 7.4 million unemployed American workers, according to employment website Indeed. Three percent of the entire labor force—about 4.4 million workers—quit their jobs in September, a record number. More than 10 million jobs have remained open since June, the U.S. labor department...

The food price index rose at an annual rate of 31 percent in October due to a plethora of reasons, including droughts, bad weather, and global supply chain issues. Henryk Kowalczyk, Poland’s agriculture minister, told the Financial Times that a global “food prices crisis” could be looming and could contribute to the strain on the...

On 10 November, the day the U.S. Bureau of Labor Statistics reported that October’s inflation rate spiked to 6.2 percent, the U.S. bond market finally seemed to take note of rising prices. After showing no awareness of inflation for months, both short-term and long-term treasury bonds fell in price and yields for both rose. As...

October’s U.S. inflation rate sped to 6.2 percent, its fastest since 1990, as prices rose throughout the economy, touching everything from groceries to cars as consumers continued spending without restraint. The Consumer Price Index (CPI) gained 0.9 percent from September. October marked the fifth consecutive month in which inflation grew by at least 5 percent,...

Nearly a quarter of New York City’s financial firms will cut their in-town workforces over the next five years, according to a November survey by the nonprofit Partnership for New York City. Overall, 13 percent of companies in the survey plan to reduce their labor force; the financial services sector showed the largest number of...

Although posting respectable gains last Friday, U.S. equity markets lost ground last week, snapping a five-week record of weekly advances. The Dow Jones Industrial Average gave up 0.6 percent, NASDAQ 0.7 percent, and the Standard & Poor’s 500 0.3 percent for the week, although all three markets closed on Friday near their highs for the...

In October, the U.S. economy’s service sector reported its strongest growth ever, according to the Institute for Supply Management’s most recent survey. The survey’s rating of the service economy, which includes airlines, gyms, restaurants, trucking companies, and similar businesses, jumped to 66.7 in October from September’s 61.9. Ratings above 50 indicate expansion; the higher the...