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☆ Mexico tops China as the leading exporter of goods to the US
▼ + stars: | 2024-02-07 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —For the past two decades, the United States imported more goods from China than all other nations. Mexico is now the top exporter of goods into the US, according to new trade data released by the Commerce Department on Wednesday. Mexico sent $475.6 billion worth of goods into the US last year, a 5% increase from 2022. China, meanwhile, exported $427.2 billion worth of goods to the US last year, a 20% slump from 2022. That’s the largest annual decline in the trade deficit since 2009.

Persons: Matthew Martin, Brad Setser, Trump Organizations: New, New York CNN, Commerce Department, —, Oxford Economics, Council, Foreign Relations Locations: New York, United States, China, Mexico, US

☆ Jobless claims fall to lowest level since 2022, while CEO exits hit new high
▼ + stars: | 2024-01-18 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

New York CNN —The number of Americans making first-time claims for jobless benefits dropped last week to a level not seen since the fall of 2022, while CEO exits set a new high last year, according to fresh economic data released Thursday. There were an estimated 187,000 initial claims for unemployment insurance during the week that ended January 13, according to Department of Labor data released Thursday. That’s down by 16,000 claims from the week before and marked the lowest level of first-time claims — considered a proxy for layoffs — since September 24, 2022. Weekly claims data can be quite volatile and are frequently revised, and economists caution that some one-off influences — in this case, harsh weather and a new year — could be at play. “Historically, we’ve seen large economic shifts preceded by a surge in CEO exits,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

Persons: —, ” Andrew Challenger, Challenger, ”, “, ” Matthew Martin, Ian Shepherdson, ” Shepherdson Organizations: New, New York CNN, of Labor, Challenger, ”, Oxford Economics, ’, ” Thursday’s Labor Department Locations: New York, US

The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — dropped 0.5% in October from September, the first decline since May and biggest since April 2020. On a year-over-year basis, producer prices rose 1.3% from October 2022, down from 2.2% in September and the smallest gain since July. The year-over-year gain in core producer prices was the smallest since January 2021. The wholesale price of goods fell 1.4% from September to October, pulled down by a 15.3% drop in the price of gasoline. Year-over-year wholesale inflation, for instance, has dropped since hitting 11.7% in March 2022.

Persons: —, Matthew Martin Organizations: WASHINGTON, —, Labor Department, Oxford Economics, CPI Locations: U.S

One mom told AP about how she had delayed important care for her child because she believed Kennedy’s vaccine falsehoods. The AP found dozens of individuals included in the book died of known causes not related to vaccines, including suicide, choking while intoxicated, overdose and allergic reaction. Kennedy’s Children’s Health Defense produces articles, newsletters, books, podcasts, even TV shows on its own CHD.TV. And hack into that.”Because of his national profile, Kennedy’s work has ripple effects beyond the most devoted anti-vaccine activists. But people involved in the response who spoke to AP said Kennedy and the anti-vaccine activists he supported made things worse.

Persons: Braden Fahey, Gina, Padrig Fahey, ”, Robert F, Kennedy Jr, John F, Kennedy’s, Kennedy, Braden, ” Gina Fahey, “, Sen, that’s, Joe Biden, Donald Trump, Gina Fahey, “ There’s, “ It’s, CHD, Skyhorse, Edward Dowd, Matthew Martinez, Dowd, Tony Lyons, Lyons, Braden's, Francesco Pierri, Matthew DeVerna, Lydia Greene, Greene, ” Greene, ’, Sharon Goldfarb, ” Goldfarb, you’re, …, Dr, Todd Wolynn, ” Wolynn, Trump, Vivek Ramaswamy, he’d, Ron DeSantis, Floridians, Daniel Jolley, Jolley, ” Jolley, Cheryl Hines, Edwin Tamasese, Taylor Winterstein, Helen Petousis, Harris, Moelagi Leilani Jackson, Richard Pan, Pan, Jr, ” Pan, Anthony Fauci, Kerry Kennedy, –, ” Kerry Kennedy, Terry Chea Organizations: Associated Press, Democratic, AP, Skyhorse Publishing, Children’s Health Defense, ”, BlackRock, Atlantic Health, Morristown Medical Center, Kennedy Super, Children's Health Defense, Skyhorse, Indiana University’s Observatory, Social Media, Twitter, Health Defense, Disease Control, Republican, GOP, COVID, Florida Gov, University of Nottingham, Public, RFK, Facebook, Press Locations: California, U.S, Morristown, COVID, New, Hudson, Canadian, Alberta, Berkeley , California, Pittsburgh, Samoa, New Zealand, Sacramento , California, Sacramento, America

☆ US consumer confidence is the lowest it’s been in four months
▼ + stars: | 2023-09-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN —Rising gas prices and high interest rates contributed to greater economic uncertainty and dampened consumer confidence in September, dropping the key economic indicator to the lowest level in four months, according to data released Tuesday. The Conference Board’s Consumer Confidence Index fell for a second consecutive month, dropping to 103 in September from an upwardly revised 108.7 the month before. The index is at its second-lowest level this year, landing just above May’s 102.5 reading, according to Conference Board data. “Consumers also expressed concerns about the political situation and higher interest rates. “Consumers may be hearing more bad news about corporate earnings, while job openings are narrowing, and interest rates continue to rise — making big-ticket items more expensive,” she said.

Persons: “ Consumers, ”, Dana Peterson, Consumers, Peterson, Matthew Martin Organizations: Minneapolis CNN, Board, “, Conference Board, Consumers, Oxford Economics Locations: Minneapolis, US

☆ Lauren Boebert's fondling incident may have violated Colorado's public indecency law, but an attorney said she probably won't be charged
▼ + stars: | 2023-09-19 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

Rep. Lauren Boebert's public fondling incident may have violated Colorado public indecency laws. But a local defense attorney told Insider that it's unlikely she would face charges. Boebert was caught on camera appearing to grope her date during a theatre production of "Beetlejuice." Colorado's public indecency law states that "a lewd fondling or caress of the body of another person" isn't allowed in a public place or where a member of the public might view it. She also said that she won't be going on future dates with the man from the theatre.

Persons: Lauren Boebert's, Boebert, 9News, —, isn't, Matthew Martin, Martin Organizations: Service, Buell Theatre, Police, Boebert, District, Newsweek Locations: Colorado, Wall, Silicon, Denver

☆ Strong US retail sales underscore economy's resilience
▼ + stars: | 2023-08-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

SummaryCompanies Retail sales increase 0.7% in July; June sales revised upCore retail sales jump 1.0%; June sales revised downImport prices rebound 0.4%; down 4.4% year-on-yearWASHINGTON, Aug 15 (Reuters) - U.S. retail sales increased more than expected in July as Americans boosted online purchases and dined out more, suggesting the economy continued to expand early in the third quarter and keeping a recession at bay. Retail sales jumped 0.7% last month. Sales at food services and drinking places, the only services category in the retail sales report, shot up 1.4% after rising 0.8% in June. Excluding automobiles, gasoline, building materials and food services, retail sales surged 1.0% in July. Data for June was revised lower to show these so-called core retail sales increasing 0.5% instead of the previously reported 0.6%.

Persons: Goldman Sachs, Andrew Hunter, David Russell, Matthew Martin, Ben Ayers, Lucia Mutikani, Paul Simao Organizations: Commerce Department, Capital Economics, Retail, Reuters, Consumers, Market Intelligence, Wall, Treasury, Labor Department, Oxford Economics, delinquencies, New York Fed, Nationwide, Thomson Locations: WASHINGTON, U.S, New York, Columbus , Ohio

☆ PPI: US wholesale inflation rose more than expected in July
▼ + stars: | 2023-08-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —US wholesale inflation rose more than expected in July, reversing a yearlong cooling trend, the Bureau of Labor Statistics reported Friday. Services prices rose 0.5% from June, the highest monthly increase since March 2022 for the category, BLS data shows. Still more to comeThe report comes just one day after the Consumer Price Index showed that prices rose 3.2% annually in July. Similar base effects played their role in the headline PPI increase as well, noted Rankin. When stripping out the more volatile categories of food and energy, core PPI rose 2.4% annually in July.

Persons: Price, Kurt Rankin, ”, ” Rankin, Rankin, “, Matthew Martin, Oren Klachkin, Dow Organizations: Minneapolis CNN, of Labor Statistics, Refinitiv, PPI, Services, PNC Financial Services, CNN, “, Federal Reserve, Oxford, ” Energy, Fed, Federal Locations: Minneapolis, That’s

☆ US weekly jobless claims race to 1-1/2-year high, economists urge caution
▼ + stars: | 2023-06-08 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

After rampant fraud in Massachusetts briefly boosted claims to a 1-1/2-year high in May before being revised away, economists cautioned against reading too much into the latest rise. Economists polled by Reuters had forecast 235,000 claims for the latest week. Unadjusted claims increased only 10,535 to 219,391 last week, with applications in Ohio surging 6,345 and filings in California shooting up 5,173. The Federal Reserve is expected to keep its policy rate unchanged next Wednesday for the first time since March 2022 when it embarked on its fastest interest rate hiking campaign since the 1980s. The U.S. central bank has raised its policy rate by 500 basis points since then.

Persons: Conrad DeQuadros, Unadjusted, Gisela Hoxha, Matthew Martin, Stuart Hoffman, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: Labor Department, Brean, Reuters, Auto, Citigroup, Federal, Treasury, Oxford Economics, PNC Financial, Institute for Supply Management, PMI, Thomson Locations: WASHINGTON, Ohio , Minnesota, California, Massachusetts, New York, Ohio, Minnesota, U.S, Pittsburgh , Pennsylvania

☆ Jobs report: What to expect from the May data
▼ + stars: | 2023-06-01 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

But despite all that, the labor market has kept humming right along. And that’s largely expected to be the case, again, in Friday’s monthly jobs report from the Bureau of Labor Statistics. Private sector employment increased by 278,000 jobs in May, according to ADP’s monthly National Employment Report, frequently seen as a proxy for the government’s official number. Labor turnover data released Wednesday showed that the US employment market remained tight in April. The government’s May jobs report is scheduled for Friday at 8:30 a.m.

Persons: ” Daniel Zhao, that’s, ” Julia Pollak, “, Pollak, ”, Michael Feroli, Matthew Martin, ” Pollak, it’s Organizations: Minneapolis CNN, Federal Reserve, Bureau of Labor Statistics, “, ”, Commerce Department, CNN, Labor, JPMorgan, Oxford Economics, Challenger, Conference Locations: Minneapolis, April’s

☆ The number of available US jobs surged in April
▼ + stars: | 2023-05-31 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —The number of available jobs in the United States unexpectedly rose in April, bucking economists’ predictions after a three-month stretch of declines. Economists were expecting 9.375 million job openings, according to consensus estimates on Refinitiv. As openings rose in April, so did the ratio of available jobs to Americans looking for work. Job openings started skyrocketing in 2021 as America’s economy sought to fully recover from the deep job losses suffered the year before, at the pandemic’s onset. The number of available jobs set records and bounced around those heights for much of the past two years.

Persons: Mark Hamrick, there’s, Matthew Martin, JOLTS, Martin Organizations: Minneapolis CNN, Bureau of Labor Statistics, Federal, Bankrate, Fed, Labor, Survey, Oxford Economics Locations: Minneapolis, United States, US

☆ US business spending on equipment weakening as demand for goods slows
▼ + stars: | 2023-04-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Even though business spending on equipment weakened, demand remained strong for goods like computers and electronic products as well as electrical equipment, appliances and components. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.4% last month. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement. Goods imports dropped $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods. While the decline in imports is supportive of higher GDP, the drop in capital goods underscored weakening business spending.

☆ US labor market cooling; leading indicator flashes recession
▼ + stars: | 2023-04-20 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Though measured, the loss of labor market momentum added to slumping retail sales and manufacturing activity in heightening the risks of a recession as soon as the second half of the year. Jobless claimsNevertheless, the labor market is fraying around the edges. It also said contacts reported the labor market becoming less tight, noting "a small number of firms reported mass layoffs," which were "centered at a subset of the largest companies." Philly FedDespite cracks in the labor market, economists did not expect widespread job losses. The claims data covered the period during which the government surveyed business establishments for the nonfarm payrolls portion of April's employment report.

☆ US services sector growth slows; price pressures abating
▼ + stars: | 2023-04-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Despite the pullback in growth in the services sector, Anthony Nieves, chair of the ISM Services Business Survey Committee noted that "the majority of respondents report a positive outlook on business conditions." The services sector is being supported by consumers switching spending from goods, which are typically bought on credit. ISM services PMITRADE DEFICIT WIDENSWhile accommodation and food services businesses reported that "traffic is recovering and nearly flat," they added "we are optimistic about the coming months." With demand cooling, services sector inflation continued to subside, though it remains elevated. Services sector employment growth also moderated.

☆ U.S. job openings increase to five-month high as labor market stays tight
▼ + stars: | 2023-02-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

There were 1.9 job openings for every unemployed person in December, the Labor Department's monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed on Wednesday. Job openings, a measure of labor demand, increased by 572,000 to a five-month high of 11.0 million on the last day of December. Others speculated that job openings had been overstated because of difficulties adjusting the data for seasonal fluctuations. "A jump in job openings in the retail sector is also at odds with a lower pace of seasonal hiring around the holidays." The job openings rate up shot to 6.7% from 6.4% in November.

☆ Hamlin’s collapse spurs new wave of vaccine misinformation
▼ + stars: | 2023-01-05 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

While the Bills have not said whether Hamlin was vaccinated, about 95% of NFL players have received a Covid-19 vaccine, according to the league. The blog proves no relationship between the incidents and Covid-19 vaccines; it also includes in its count reported deaths from cancer and emergencies of unknown causes. It' snot surprising that misleading claims about Covid-19 vaccines surged following Hamlin's cardia arrest, given how much vaccine misinformation has spread since the pandemic began, said Jeanine Guidry, a Virginia Commonwealth University professor who researches health misinformation and vaccine hesitancy. High-profile public events like Hamlin’s collapse often create new waves of misinformation as people grasp for explanations. For people concerned about vaccine safety, Hamlin’s sudden collapse served to affirm and justify their beliefs, Guidry said.

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