Five Things to Watch in the May International Trade Report
The last two international trade reports have shown the US trade deficit holding at a record high. Tomorrow, the latest report will be released. Economists surveyed by Bloomberg expect the deficit to hit a new record, likely over $100 billion, compared with about $89...
Five Things To Watch Out For in Manufacturing
The manufacturing sector made slight progress in the month of March, and evidence points towards a similar outcome for April. Regional indexes from the Chicago and Philadelphia Fed declined last month, also signaling that the ISM number may not spike drastically. ...
Shipping Costs, Delays Are Squeezing Businesses — And There’s No End in Sight
Businesses across the US have struggled with skyrocketing shipping expenses and lengthy delays for much of the last year, forcing them to make a decision: raise prices or swallow the increased costs. Contract rates to ship containers to the US have nearly tripled in the past year, while one-off spot rates rose as much as 1000%.
Keep Your Friends Close, and Your $5 Oat Milk Latte Closer: How Coffee Shops Are Weathering Inflation
William Somerville opened his coffee shop Social House Café in Williamsburg, Brooklyn, the week before the coronavirus lockdowns began in New York in March 2020. Two years later, after grappling with COVID-19, he’s facing a new challenge: inflation. Costs are up from...
Housing price growth reached 34-year peak in 2021
Housing prices in the nation’s largest cities increased last year at the fastest pace in three decades, though rising mortgage rates could cool the red-hot market this year. National home prices rose by 18.8% from a year earlier, according to the S&P CoreLogic...
Retail Sales Soar in January Despite ‘Training Wheels’ Coming Off of the Economy
The Omicron variant made its rounds across the country in January, causing a number of employee shortages and shortened shopping hours. Yet, consumers continued to spend.
Beauty services are poised for a boom, but the industry is more competitive now
The last few weeks have been busy for Eleni Tziouvaras, who owns Goleta, California-based E Salon. Tziouvaras’ business contracted at the beginning of the pandemic, slashing her income by 90 percent to $15,000 in 2020. Now, with restrictions on businesses being lifted...
Video Game Streaming – A Pandemic Fad or a New Economic Trend?
Ethan Paris, 23, was a college student at SUNY Oneonta when the pandemic hit. Before lockdown, Paris went to classes, hung out with his friends, and spent most of his spare time playing video games. When the pandemic sent the country into a lockdown, Paris moved back...
U.S. Hiring Declaration Slows Economic Recovery
Hiring slowed sharply last month, a sign of the uneven economic recovery as companies scrambled to find enough workers in the face of surging consumer demand. The economy added a disappointing 266,000 jobs in April, far below economists’ projections that about 1...
Weak U.S. Jobs Numbers Show Economy is Improving Slower than Originally Expected
Audio: Are Unemployment Benefits to Blame for Dismal Jobs Report? The American job market hit a slow down in April, going against economists predictions and causing debate as to what the best steps are for economic recovery moving forward. U.S. employers added...