During the COVID War in 2021, 47.7 million people quit their jobs, according to the U.S. Bureau of Labor Statistics, the most since the bureau began tracking the number in 2001.
Tag: U.S. economy
AGAIN IN MAY, CONSUMERS SPENT MORE TO BUY LESS
U.S. consumers spent 0.3 percent more on retail purchases in May than in April, the U.S. commerce department reported, besting economists’ expectations of a 0.2-percent decline.
U.S. NATIONAL DEBT REACHES $32 TRILLION
The U.S. national debt reached a record $32 trillion after Congress agreed to lift the debt ceiling once again after a months-long standoff over spending cuts.
FED “PAUSES,” NOT “ENDS,” RATE INCREASES
After 10 interest-rate increases in as many meetings, the U.S. Federal Reserve’s Open Market Committee held the central bank’s key federal funds rate steady at 5.0 percent on deposits and 5.25 percent on loans at its meeting last week.
SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
The Financial Stability Oversight Council (FSOC) will increase scrutiny of banks’ exposure to the rising risk of commercial real estate loans defaulting...
SIGNET JEWELERS SLUMP: DID COVID KILL IT?
Signet Jewelers, the parent company of the Zales and Kay jewelry store chains, cut its 2023 financial outlook, saying the COVID lockdown killed sales and the following rise in inflation and interest rates has slashed demand for engagement rings.
ONLINE BANKS LURING DEPOSITS AWAY FROM BRICK-AND-MORTAR RIVALS
During this year’s first quarter, online banks increased their total deposits while small and regional brick-and-mortar competitors were seeing depositors flee.
UNEMPLOYMENT CLAIMS CLIMB MORE THAN EXPECTED
New claims for jobless benefits rose to 261,000 in the most recent week, rising 28,000 from the week before, the U.S. labor department reported.
U.S. TREASURY MUST BORROW ANOTHER TRILLION, ANALYSTS SAY
The U.S. government will be forced to borrow another $1.1 trillion by selling short-term treasury bills after raising the debt ceiling earlier this month, analysts at JPMorgan Chase estimated.
ECONOMIC UPDATE – MARKET OVERVIEW
All the economic eyes are on the central Banksters. What will they do next? Raise, lower or hold their interest rates.