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Economy growing rapidly, inflation up ‘notably,’ Fed chair says
The economy is growing at a healthy clip, and that has accelerated inflation, Federal Reserve Chair Jerome Powell says in written testimony.
Another jump in prices furthers inflation spike, tightens squeeze on consumers
American consumers absorbed another surge in prices in May — a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008.
Weekly unemployment claims fall to 376,000, sixth straight drop
The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy reopens rapidly.
Biden administration seeking to address bottlenecks in supply chains
The Biden administration has completed a 100-day review of supply chains and will form a task force to address the bottlenecks in the semiconductor, construction, transportation and agriculture sectors.
US job openings surge to record 9.3 million in April
U.S. employers posted a record 9.3 million job openings in April, with the U.S. economy reopening at breakneck speed.
Trade deficit dips to $68.9B with exports up
The U.S. trade deficit narrowed in April to $68.9 billion as an improving global economy boosted sales of American exports.
US economy: Plenty of growth, not enough workers or supplies
The U.S. economy is sparking confusion and whiplash almost as fast as it’s adding jobs.
US adds modest 559,000 jobs, a sign of more hiring struggles
The May jobs report suggests many companies are struggling to find enough workers as the economy rapidly recovers from the pandemic recession.
Service sector growth surges to all-time high in May amid pandemic rebound
Growth in the services sector, where most Americans work, hit an all-time high in May.
Unemployment claims drop to another pandemic low
The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens.
Federal Reserve survey sees economy growing at faster pace
The U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nation's manufacturers, the Federal Reserve reported Wednesday.
US manufacturing activity grows for 12th straight month
Growth in U.S. manufacturing picked up in May, even as supply chain problems persist and businesses continue to struggle to find workers.
