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“#Retail sales fell more than expected in July amid recovery” American shoppers pulled back their spending in July even more than economists expected as COVID-19 cases surged, inflation continued to flare and shortages hampered supply of various goods, the feds said Tuesday. Retail sales for the month fell 1.1 percent from June, according to new…
“#Letters to the Editor — Aug. 15, 2021” China syndromeIt is amazing how the almighty dollar, greed and financial recklessness can create strange bedfellows (“China’s US Data Threat,” Aug. 10). Many technological and other goods in the United States and Europe are imported from Communist China, a persecutor and suppressor of freedom and human rights,…
“#Biden’s ‘economic cold start,’ Axios’ snooze-worthy ‘wake-up call’ and more” Diary of disturbing disinformation and dangerous delusions This statement: “We’ve brought this economy back from a cold start.” — President Joe Biden, Aug. 11 We say: The president thinks Americans were born yesterday. In fact, the economy grew red hot under President Donald Trump after…
“#Weekly new jobless claims lower despite Delta variant concerns” The number of Americans newly seeking jobless benefits edged lower last week as the labor market continued to recover despite fresh concerns over the surge in COVID-19 cases driven by the Delta variant of the coronavirus, the feds said Thursday. Initial filings for unemployment benefits, seen…
“#Democrats are playing with fire on spending and inflation” For the first time since Jimmy Carter’s presidency, inflation is back in a big way: 5.4% from July 2020 to July 2021. From February 2020 to June 2021, food prices went up 5.4%; energy prices increased 8.9%. You’ve probably noticed it at the pump and the…
“#Southwest Airlines says COVID-19 surge causing cancellations” Southwest Airlines said it expects a significant drop in revenue as Americans ditch travel plans amid rising COVID-19 cases driven by the Delta variant. The company said Wednesday it saw a “deceleration in close-in bookings and an increase in close-in trip cancellations in August 2021, which are believed…
“#Inflation stays high as prices leap 5.4 percent from year ago” Inflation continued to surge in July, but appeared to settle close to the fastest pace in almost 13 years as the economy continues to emerge from the pandemic, the feds said Wednesday. The Labor Department’s Consumer Price Index, which measures a basket of goods and…
“#McDonald’s grappling with low supply of to-go bags, straws” Fast-food giant McDonald’s is facing a tight supply of paper to-go bags and straws, the company has warned workers — the latest supply-chain hiccup to emerge as the shifting demands of the pandemic continue to cause headaches across industries. McDonald’s urged restaurant owners in an internal…
“#US added 943K jobs in July, topping expectations of 845K” The US added 943,000 jobs last month, crushing expectations as businesses scrambled to hire new workers, the feds said Friday. July’s numbers topped economists’ expectations of 845,000 jobs added, and come after the country added 850,000 jobs in June. The unemployment dropped to 5.4 percent in June…
“#2.9M still on jobless benefits as weekly claims remain high” More than 2.9 million Americans are still on traditional state unemployment benefits as the number of people seeking weekly new claims appear to have settled at a level higher than previously hoped, the feds said Thursday. Continuing claims fell by 366,000 from just over 3.26…