Job growth decelerated in August and was close to expectations, especially with downward revisions to prior reported payrolls. The headline unemployment rate increased to 3.7% in August and is now again higher than the pre-pandemic low in February 2020. August…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Economic growth declined less than initially estimated, and consumer spending was revised up. The job market remains strong, but the housing market is in decline. The drop in real GDP in the second quarter was revised to a smaller 0.6%…
The job market stays strong as continuing claims remain below pre-pandemic levels. The housing market is suffering from the dramatic increase in mortgage rates experienced so far this year. Existing home sales declined for the sixth month in a row…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Inflation decelerated, consumer credit growth accelerated, and consumer sentiment is rising on lower gas prices in the latest economic data available. The Consumer Price Index (CPI) showed inflation decelerated in July. The year-over-year inflation rate was 8.5%, down from 9.1%…
The July employment report marked a milestone in the pandemic recovery, indicating no sign of a recession. Job growth in July accelerated to 528,000 jobs created. Unemployment fell to 3.5%, the same as it was in February 2020, though the…
As I noted after their July meeting, the Federal Open Market Committee has moved the target rate more in the past two months than at any point since 1981, and they are not done yet. The Fed’s aggressive stance on…
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable…
Real GDP declined again in the second quarter, as falling inventory accumulation and lower residential construction spending decreased private investment. Even so, consumer spending did grow over the first quarter. We have now seen two negative quarters in a row…
