Consumer Prices Surge in March, Buoying Inflation Fears

Consumer prices surged in March, intensifying fears of inflation as the country’s economy recovers from the novel coronavirus pandemic. The consumer price index jumped 0.6% from the previous month, in part, due to rising gasoline prices, data released by the Bureau of...

Home prices continued soaring in January, fueled by a tight housing market

After a strong showing in the second half of 2020, home prices continued their rapid growth in January, as the housing market remains squeezed by vigorous demand. National home prices saw 11.2% growth in January compared to last year, according to the latest...

Watch for high retail sales in March as restaurants rebound and gas prices soar

The Census Bureau will release the advance monthly retail sales report for April on Thursday. The report shows how much consumers spent on retail trade in the previous month – an important indicator of economic health. Economists surveyed by Bloomberg expect sales...

The Federal Minimum Wage Goes Unchanged, and an Underrepresented Group is Paying the Price

Angela Greene worked with a mobile cleaning crew at a sheltered workshop in South Carolina for 21 years. She worked Monday to Friday every week and made no more than $3.00 an hour.  Her hard work never earned her the full federal minimum wage, all because she has an...

Rising Gas Prices Spurred by Economic Optimism but Worries Persist Over Affect of $3 Per Gallon

When Ethan Ziegler left Natick, Mass., and hit the open road Feb. 17 for a nine-month cross country trek, all he took with him was whatever could fit in his 2015 Honda Civic. Ziegler, 25, had decided to leave his parents’ home, where he had been living since the start...

Specialty foods rise above the pandemic, buoyed by consumer interest

Last year, gourmet cheese and specialty foods shop Formaggio Kitchen shut down in-store shopping at its Cambridge, Massachusetts location for almost two months. It swiftly lost its catering and restaurant accounts as its business clients shuttered.  But unlike many...

Weaknesses in Durable Goods Report: Blame the Weather

New orders and shipments of durable goods, such as machinery and parts for motor vehicles, decreased in February. Economists pointed to inclement weather across multiple states and existing production slowdowns as key causes. At the same time, economists also said...

Personal Income Dropped in February, but Economists aren’t Surprised or Concerned

Personal income went back down in February, due to a decrease in government aid. Consumer spending also went down for the same reasons, as well as extreme weather conditions in Texas. Personal income fell 7.1 percent in February and consumer spending fell 1.0 percent,...

After a strong showing in February, March job numbers could provide clearer picture of economic recovery

After a promising month of job growth in February, the upcoming March jobs report will provide more meaningful insight into how rapidly the economy is rebounding after being ravaged by Covid-19.  Economists expect strong job growth in March, similar to last month’s,...

Falling retail sales signal slower rebound, reliant on stimulus checks

Higher spending compared to last year is a positive sign for economic growth overall. But February’s drop suggests that big upticks in retail sales, like the uptick seen in January, are driven by government stimulus checks.

Lumber’s High Prices May Cause Restocking Issues

Lumber’s High Prices May Cause Restocking Issues

In the early days of the pandemic, business slow downs or closures meant less revenue or none at all. For Craig Forester, it meant a surprise increase in sales. Forester is the Operations Manager of Rex Lumber Company, a third generation hardwood and tropical lumber...

Welcome to Issue Number One

Welcome to Issue Number One, a site covering economic trends. The site is produced by reporters at the New York City News Service and the CUNY Graduate School of Journalism. Email your comments to greg.david@journalism.cuny.edu.