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For the week ending 11/4/23, initial unemployment claims were a very low 217,000, barely above decade lows. However, continuing unemployment claims came in at 1,834,000 and are up about 250,000 from the decade lows set last year. This suggests that…

In 1938, Congress formally made 11/11 Veterans Day. It pays tribute to all American veterans both living and deceased, but especially honors those who are alive. The state with the highest percentage of veterans is Alaska at 8.8% of the…

A wage-price spiral looks increasingly unlikely. Y-o-Y wage growth has steadily decelerated from a recent peak of 5.1% in 22Q2 to now 4.3%, the lowest reading since 21Q4. Moreover, the index has slowed four out of the last five quarters.…

Despite substantial talk of office space to residential apartment conversions, in 2022 developers created just 3,575 apartment units that way, less than 1% of all new apartments built. In 2021, the number of such conversions was about 4,300. In 2020,…

The average cost of owning and operating a new car in 2023 is $12,182, up significantly from $10,728 in 2022. Annual operating costs consisting of fuel and maintenance are $3,864/year, while ownership costs of depreciation, finance charges, insurance and fees…

Net job growth in October was a respectable 150,000; that said that’s the second lowest level since 12/20 and August and September were collectively revised down 101,000. Additionally, unemployment ticked up to 3.9%, the highest rate since 1/22 and up…

The Friday File: Simone Biles has won a record 33 World Championship and Olympic medals, in second is Larisa Latynina with 32. Her 26 World Championship medals is six more than #2 Svetlana Khorkina. As for Olympic Medals, the leader…

23Q3 GDP was up 4.9% on an annualized basis with 2.7 percentage points of the increase due to very strong consumer spending. This looks unsustainable because real disposable income has fallen four straight months. That said, spending is strong partly…

Unsurprisingly, the Fed left the Fed funds rate unchanged today but signaled a willingness to possibly raise it 25bps in the future, another mildly hawkish pause. However, by adding the word financial, the only meaningful change to the press release…

The Scary File: Americans are expected to spend a record $12.2 billion celebrating Halloween, up from last year’s record $10.6 billion. In 2019 spending totaled $8.8 billion. This year a record 73% of people will celebrate Halloween up from 69%…