U.S Employment Rose by 187,000 Jobs in July

By Tom Burnett CFA On August 4, 2023, the Bureau of Labor Statistics released its Employment Report for July. Total employment rose by 187,000 jobs to a total of 156.3 million. Unemployment held steady at 5.8 million, leaving the rate unchanged from June at 3.5%. This rate has ranged between 3.4% and…

By Tom Burnett CFA On July 26, 2023, the Federal Reserve raised the Federal Funds rate by 0.25% to a range of 5.25% to 5.50%, the highest level in 22 years. In its public announcement, the Fed maintained its goal of 2.0% inflation. The vote to raise rates was unanimous. In addition, the Fed statement…

By Tom Burnett CFA On July 25, 2023, the International Monetary Fund (“IMF”) released a regular update of its global GDP forecast report. Global GDP growth in 2023 is now expected to reach 3.0%, up from a forecast of 2.8% in the April projections report. The U.S. economy is forecast to grow just…

By Tom Burnett CFA On July 12, 2023, the Bureau of Labor Statistics released the Consumer Price Index information for June. The CPI rose 0.2% for the month, following an increase of 0.1% in May. The CPI rose by 3.0% in the 12 months ending in June, the lowest year-over-year increase since March 2021…

By Tom Burnett CFA On July 7, 2023, the Bureau of Labor Statistics released its employment report for June 2023. Total nonfarm employment rose by 209,000 jobs in June to a record total of 156.3 million. Total employment one year ago was 153.2 million. Jobs growth has averaged 278,000 per month in 2023…