SILVER SPRING, Md.—Wages and benefits for U.S. workers rose in the last quarter of the year, putting all of 2020 in somewhat of a normal range as the pandemic continued to rankle the economy. Total U.S. workers compensation rose 0.7 percent in the October-December quarter, an increase over the previous two quarters, the Labor Department…
US Employment Costs Rose Modestly in Fourth Quarter
SILVER SPRING, Md.—Wages and benefits for U.S. workers rose in the last quarter of 2020, putting the entire year in somewhat of a normal range as the pandemic continued to rankle the economy. Total U.S. workers’ compensation rose 0.7 percent in the October-December quarter, an increase over the previous two quarters, the Labor Department said on…
What to Expect From Bidenomics
January 28, 2021
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BidenomicsinflationJanet YellenJoe Bidenminimum wageOpinionpublic debtstagflationU.S. economyViewpoints
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Commentary On Tuesday, Jan. 19, 2021, the Treasury secretary designate Janet Yellen outlined before the Senate Finance Committee the likely course of President Joe Biden’s economic policies in the months ahead. Given the fragile state of the U.S. economy as a result of Covid-19, Yellen favors Biden’s $1.9 trillion spending plan to provide support to the…
Fed Sets Cautious Tone as Economic Momentum Slows
WASHINGTON—The Federal Reserve warned on Jan. 27 that the U.S. economy is a long way from recovery as the resurgence in COVID-19 has weighed on economic activity and the labor market. After the conclusion of the central bank’s two-day policy meeting, Fed officials announced that they would hold the target range for the federal funds rate at zero to…
US Core Capital Goods Orders Rise in Boost to Business Investment
WASHINGTON—New orders for key U.S.-made capital goods increased for an eighth straight month in December, pointing to solid growth in business spending on equipment in the fourth quarter and likely helping to underpin the economic recovery. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.6 percent last…
US Consumer Confidence Edges Higher; House Prices Accelerate
WASHINGTON—U.S. consumer confidence rose moderately in January while lingering concerns about the COVID-19 pandemic led to a further deterioration in households’ perceptions of the labor market, raising the risk of a second straight month of job losses. But the survey from the Conference Board on Tuesday showed consumers more than willing to buy homes and…
Renewed Lockdown Measures Slow Economic Momentum
WASHINGTON—The economy’s momentum has reversed in recent weeks with spikes in coronavirus cases that forced a series of renewed stay-at-home orders and business closures. While some states like California, New York, and Michigan have begun to ease restrictions, economists are still pessimistic over the near-term outlook. It will be months before vaccines are widespread enough to…
US Unemployment Claims Decrease Modestly; Housing, Factories Underpin Economy
WASHINGTON—The number of Americans filing new applications for unemployment benefits decreased modestly last week as the COVID-19 pandemic affects the nation, raising the risk that the economy shed jobs for a second straight month in January. Despite the labor market woes, the economy remains anchored by strong manufacturing and housing sectors. Other data on Thursday…
US Factory Activity Near 14-Year High; Home Sales Rise in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Friday showed an unexpected increase in sales of previously owned homes in…
US Factory Activity Near 14-Year High; Home Sales Rose in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Jan. 22 showed an unexpected increase in sales of previously owned homes…
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