Browsing: Newsbytes

Economy

Employers announced plans to cut 31,517 jobs in May, according to a report issued by Challenger, Gray & Christmas. May’s announced cuts were 12.6% below April’s and 4.8% lower than last May’s. The retail sector led the way, cutting 4,946 jobs in May. Year-to-date cuts are 49.8% higher than this period last year when 55,910

Economy

Economic activity expanded at a moderate pace across the twelve Federal Reserve Districts in late April and early May, according to the just-released Federal Reserve Beige Book. The report was based on information collected through May 21. The economic expansion over the period was driven in part by a pickup in manufacturing, particularly fabricated metals,

Economy

The non-farm private sector added 178,000 jobs in May, according to the ADP National Employment Report. This followed a downwardly revised 163,000 job increase in April. Small businesses with fewer than 50 employees gained 38,000 jobs. Medium-sized businesses with 50-499 employees created 84,000, while large businesses added 56,000 jobs. “The hot job market has cooled

Economy

Real GDP grew at a seasonally adjusted annual rate of 2.2% during the first quarter of 2018, according to the Bureau of Economic Analysis’s second estimate, down from 2.3% in the “advance” estimate. The general picture of economic growth remained the same. The percent change primarily reflected a downward revision to private inventory investment and

Economy

Consumer Sentiment declined 0.8 points in May to 98.0, according to the University of Michigan Consumer Sentiment Index. May’s figure is 0.9% above the May 2017 index. The Current Economic Conditions Index slowed 3.1 points to 114.9. The reading was 0.1% above the May 2017 estimate. The Consumer Expectations Index rose 0.7 points to 89.5

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