Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
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U.S. Economy Adds 390,000 Jobs in May 2022
In early 2020, the United States economy lost more than 22 million jobs. Now, just over two years later, the deficit has been chipped down to fewer than one million jobs. This milestone comes as the economy faces new headwinds, yet continues to see job gains. According to the latest Bureau of Labor Statistics report,…
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Gas Prices Reach New Record Highs Ahead of Memorial Day Holiday
With the Memorial Day holiday weekend ahead, motorists are likely to be paying more to fill their tanks. According to the latest figures from GasBuddy, average gas prices hit new record highs this past week — marking the fifth week in a row that prices have climbed. The app’s data (collected from more than 150,000 stations…
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Survey: 64% of Credit Users Cite Inflation Among Top Money Concerns
Overall inflation in the United States continues to reach multi-decade highs. In fact, in March 2022, the Labor Department’s Consumer Price Index recorded an 8.5% year-over-year increase, marking the largest annual gain since December 1981. As a result, consumers are feeling the pinch as prices on the goods they buy increase. Now, a survey of…
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Inflation Reached 7.9% in February, Highest YOY Increase in 40 Years
American consumers who feel as though they’re spending more and getting less these days aren’t alone. In recent months, inflation has been a significant concern as prices on everyday items have steadily risen. Indeed, a new report shows inflation on the rise once again — and there are reasons to fear that things could climb…
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U.S. Average Gas Prices Hit Record High Amid War in Ukraine
On February 24th, Russia invaded the neighboring country of Ukraine. In response, nations around the globe have announced sanctions against Russia, with private companies also announcing they were pulling out of the nation. However, one industry that’s heavily involved in the region is oil. Thus, as a result of the conflict, the price per barrel…
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U.S. Economy Adds 467,000 Jobs in January, December Revised Upward
Today, the Bureau of Labor Statistics (BLS) released its January jobs, which included some major surprises. First, the latest report shows that the economy added 467,000 jobs during the month. This far exceeded the 150,000 economists had projected — with some even bracing for a negative number — due to the impacts of the Omicron…
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Survey: Majority of Shoppers Plan to Make More Large Purchases in 2022
If there’s been a theme for 2022 so far, it’d have to be “cautious optimism.” After nearly two full years of pandemic life — including multiple setbacks — Americans now seem ready to get back to normal ASAP. Displaying that optimism once again, the latest survey from WalletHub shows that many consumers are now ready…
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U.S. Economy Adds 199,000 Jobs in December 2021
When the ball dropped on 2021, the United States found itself holding a bit of a mixed bag. While there was reason to be optimistic and believe that 2022 will be better than its predecessor overall, a new twist in the pandemic threw a wrench in the plans of many. Now, a look at the…
