Category: Economic News
Economic News
Economic News
U.S. Economy Adds 390,000 Jobs in May 2022
In early 2020, the United States economy lost more than 22 million jobs. Now, just over two years later, the deficit has been chipped down to fewer than one million jobs. This milestone comes as the economy faces new headwinds, yet continues to see job gains. According to the latest Bureau of Labor Statistics report, the United States economy added 390,000 jobs during the month of May. Despite amounting to...
Economic News
Gas Prices Reach New Record Highs Ahead of Memorial Day Holiday
With the Memorial Day holiday weekend ahead, motorists are likely to be paying more to fill their tanks. According to the latest figures from GasBuddy, average gas prices hit new record highs this past week — marking the fifth week in a row that prices have climbed. The app's data (collected from more than 150,000 stations across the country) show an average price of $4.57 per gallon, which is up 11¢ from...
Economic News
Survey: 64% of Credit Users Cite Inflation Among Top Money Concerns
Overall inflation in the United States continues to reach multi-decade highs. In fact, in March 2022, the Labor Department's Consumer Price Index recorded an 8.5% year-over-year increase, marking the largest annual gain since December 1981. As a result, consumers are feeling the pinch as prices on the goods they buy increase. Now, a survey of more than 1,200 credit card customers found that many are not only worried about the...Economic News
Inflation Reached 7.9% in February, Highest YOY Increase in 40 Years
American consumers who feel as though they're spending more and getting less these days aren't alone. In recent months, inflation has been a significant concern as prices on everyday items have steadily risen. Indeed, a new report shows inflation on the rise once again — and there are reasons to fear that things could climb even more. Today, the Bureau of Labor Statistics released its latest report, showing that the...Economic News
U.S. Average Gas Prices Hit Record High Amid War in Ukraine
On February 24th, Russia invaded the neighboring country of Ukraine. In response, nations around the globe have announced sanctions against Russia, with private companies also announcing they were pulling out of the nation. However, one industry that's heavily involved in the region is oil. Thus, as a result of the conflict, the price per barrel of oil has risen sharply. In turn, Americans are now seeing record high gas prices....
Economic News
U.S. Economy Adds 467,000 Jobs in January, December Revised Upward
Today, the Bureau of Labor Statistics (BLS) released its January jobs, which included some major surprises. First, the latest report shows that the economy added 467,000 jobs during the month. This far exceeded the 150,000 economists had projected — with some even bracing for a negative number — due to the impacts of the Omicron variant. To that point, 7.8 million workers report that they missed time from work in...
Economic News
