By Nathalie Voit Household spending in September decelerated, and personal income fell as inflationary pressures, ongoing supply shortages, COVID-19, and the end of government unemployment aid limited consumer spending last month, data from the Commerce Department released Oct. 29 revealed. Consumer spending in September rose 0.6 percent, down from the 1.0 percent monthly increase recorded [...]
By Nathalie Voit Unemployment claims fell to their lowest level since the start of the COVID-19 pandemic, according to Department of Labor (DOL) data released Oct. 28. Last week, unemployment insurance weekly claims decreased to 281,000 from a revised 291,000 the week before, DOL data revealed. The report revealed a 4-week moving average of 299,250, substantially lower [...]
By Nathalie Voit Economic growth between July to September significantly slowed down as the spread of the Delta variant and ongoing supply bottlenecks weighed on the U.S. recovery. According to the U.S. Bureau of Economic Analysis, real gross domestic product (GDP) in the third quarter of 2021 increased at a seasonally adjusted annual rate of 2.0 [...]
By Nathalie Voit The growth rate for home prices in August did not budge from their record-high July growth rate. According to the S&P CoreLogic Case-Shiller National Home Price Index, which tracks home prices across major U.S. urban areas, year-to-year home prices ending in August 2021 rose 19.8%, unmoved from the previous month. The figures reveal [...]
By Nathalie Voit U.S. consumer confidence levels rose following three straight months of declines, according to a Conference Board report released Oct. 26. The Consumer Confidence Index topped 113.8 in October, up from a revised 109.8 in September. The indicator surpassed many economists' expectations that placed average estimates at 108.5, according to US News. The newfound confidence stemmed from [...]
By Nathalie Voit According to the U.S. Census Bureau, the market for single-family rentals grew 30% between 2019 and 2020. Built-to-rent single-family homes are now the fastest-growing sector of the American housing market, accounting for approximately 6% of all new development projects. The properties are an attractive option for everyday Americans who don’t want [...]
By Nathalie Voit In what amounts to an apparent reversal of its stance from earlier this fall, Southwest Airlines CEO Gary Kelly said on Oct. 21 the airline would not fire unvaccinated employees despite a federal mandate. The company previously said on Oct. 4 that staff would need to show proof of vaccination by Nov. 24 to [...]
By Nathalie Voit The Consumer Financial Protection Bureau (CFPB) will investigate how tech giants Apple, Facebook, Google, and Amazon use consumers’ financial information. In a series of orders enacted on Oct. 21, the CFPB revealed it had launched an inquiry into how these firms and others operate their payments platforms and manage users’ personal data. “Big Tech [...]
By Nathalie Voit Social security benefits are about to get a boost from the federal government. Millions of beneficiaries will see a 5.9% cost-of-living adjustment (COLA) added to their monthly checks in 2022. The upcoming adjustment will be the largest ever increase for retirees in nearly four decades of legislation. The increases are set to [...]
By Nathalie Voit Many retailers are kicking off Black Friday deals early to encourage consumers to get a head start on their holiday shopping. Giants like Best Buy, Amazon, and Walmart are already rolling out major sales due to global supply chain and labor shortage concerns. According to experts, Black Friday this year will be [...]
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