U.S. Economic News
December 12, 2017
U.S. Economic Indicators
The NFIB Small Business Optimism Index rose 3.7 points to 107.0 in November — its highest mark in 34 years — as eight of the components rose and two fell. The share of small business owners who expect the economy to improve jumped 16 points. NFIB Report
The headline Producer Price Index (“PPI”) for final demand rose 0.4% in November and is up 3.1% since November of last year. The core — which removes the volatile prices of food, energy, and trade services — increased 0.4% and is up 2.4% on the year. BLS Report
U.S. News
Paul Hannon of The Wall Street Journal reports that the OECD says that the unemployment rate in the world’s developed economies has returned to its pre-financial crisis levels. While the unemployment rate has returned to pre-crisis levels, the OECD cautions that there still remain 2.5 million more people without jobs compared to just before the financial crisis. WSJ
The Wall Street Journal reports that although the unemployment rate has fallen to a 17-year low, the rate at which employers are hiring has yet to break out. The hiring rate has held in a narrow range since mid-2014 even as the unemployment rate has fallen, which may suggest that employers are unable to find qualified workers to fill open positions. WSJ