December 10, 2020
Initial jobless claims rose 137,000 to 853,000 last week. The four-week moving average increased 35,500 to 776,000. DOL Report
Consumer prices rose 0.2% in November (up 1.2% from a year ago). The “core” CPI, which excludes food and energy, also rose 0.2% and is up 1.6% from last year. BLS Report
December 9, 2020
The Job Openings and Labor Turnover Survey (“JOLTS”) indicated that the number of job openings was little changed at 6.7 million in October. The number of hires was little changed at 5.8 million, while the layoffs and discharges rate increased to 1.2%. BLS Report
The Wall Street Journal reports that data from job-search site ZipRecruiter show that the number of available U.S. jobs edged down in the first week in December. The slowdown in job postings is further evidence of a softening labor market, raising concerns of a temporary stall or backslide in the overall economic recovery as virus cases surge heading into the new year. WSJ
In September 2014, the American Beverage Association, The Coca-Cola Company, Keurig Dr Pepper (formerly Dr Pepper Snapple Group), PepsiCo, and the Alliance for a Healthier Generation announced a commitment to reduce beverage calorie consumption per person by 20 percent by 2025 nationwide and in 8-10 select communities. This report features 2019 estimates and change since baseline of per person beverage calorie consumption for each of the five BCI Communities selected to date.
Link: 2025 Beverage Calories Initiative: Report on 2019 Progress toward Community Calorie Goal
Link: Detailed Methodology
December 8, 2020
The NFIB Small Business Optimism Index declined to 101.4 in November as six underlying components weakened and four improved. Plans to increase future employment improved modestly while overall expectations for future economic conditions deteriorated. NFIB Report
Nonfarm business sector labor productivity increased at an annual rate of 4.6% in Q3 (revised). Hours worked increased 37.1% while unit labor costs fell 6.6%. BLS Report
December 7, 2020
Bloomberg reports that while U.S. inflation may briefly run above the Fed’s 2% target next year, continued slack in the labor market mean any jump in prices is unlikely to be sustained. Economic forecasters surveyed by Bloomberg expect inflation to temporarily rise above 2% in the second quarter before easing in the latter half of the year. Bloomberg
According to the Wall Street Journal, China’s trade surplus reached a record high in November amid global demand for pandemic-related consumer goods like PPE and work-from-home electronics. China’s imports of all U.S. products, meanwhile, were up 33% year-over-year last month, though purchases of American farm and energy products remain far below levels promised in the trade deal reached earlier this year. WSJ