Latest Headlines in Economy
US weekly unemployment claims fall to new pandemic low of 290,000
Layoffs levels are increasingly returning to normal, but many other aspects of the job market aren't. Hiring has slowed in the past two months, even as companies and other employers have posted a near-record number of open jobs.
US retail sales jump as Delta shifts spending back to goods
Higher spending on merchandise is likely to add more pressure to global supply chains, which have struggled to keep up with accelerating demand.
US initial jobless claims fall to fresh pandemic low
Initial unemployment claims in regular state programs totaled 293,000 in the week ended Oct. 9, a decrease of 36,000 from the prior week, Labor Department data showed Thursday.
Larry Edelman
Inflation looks like it’s here to stay for a while
Economic forecasters are now saying that prices will remain elevated much longer than they previously predicted — likely through most of 2022 — rather than retreating by the end of this year as they thought a few months ago.
Social Security checks to increase by 5.9 percent, as inflation fuels largest COLA for retirees in nearly 40 years
With the increase, the estimated average Social Security payment for a retired worker will be $1,657 a month next year.
Boston Fed starts search for new president, vows diverse candidate pool
It’s looking to fill a key opening created by Eric Rosengren’s early retirement.
US employers added only 194,000 jobs in September as Delta kept its grip on the economy
Friday’s report from the Labor Department also showed that the unemployment rate fell sharply to 4.8 percent from 5.2 percent in August.
US weekly jobless claims dropped to 326,000 last week
The number of Americans applying for unemployment benefits fell last week, another sign that the US job market and economy continue their steady recovery from last year’s coronavirus recession.