U.S. Economic News
July 11, 2019
U.S. Economic Indicators
Consumer prices rose 0.1% in June (up 1.6% from a year ago). The “core” CPI, which excludes food and energy, increased 0.3% in June and is up 2.1% from last year. BLS Report
Initial jobless claims decreased 13,000 to 209,000 last week. The four-week moving average fell 3,250 to 219,250. DOL Report
U.S. News
According to the Wall Street Journal, OPEC left its 2019 oil demand growth forecast unchanged in June while reducing its forecast for supply growth for non-cartel countries. The current growth forecast, however, assumes no additional downside risks to supply and demand in the coming months, including escalation of global trade disputes. WSJ
Greg Ip of the Wall Street Journal reports that the current record economic expansion has allowed lower-skilled workers to close the post-recession pay and employment gap with higher-skilled workers. The recent rise in employment for those with less than a college degree has allayed concerns that such workers would be permanently set back because they lacked the skills needed to succeed in a technology-driven economy. WSJ