What is the cost, at this month’s market prices, of achieving the standard of living actually attained in the base period?
Businesspeople in the US have been complaining for more than a year about how hard it is to hire anybody.
Americans in their early 60s are pretty close to record labor-force participation, too. The big declines are all among those 65 and older.
Today’s jobs report made clear that despite rising interest rates and incessant recession talk, American businesses are still hiring.
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.5 percent before seasonal adjustment.
As you may have heard, the US inflation rate is 9.1%. That is, the consumer price index for all items as estimated for June by the Bureau of Labor Statistics was 9.1% higher than it was a year earlier.
Gasoline consumption in the US probably peaked in the years before the pandemic.
US builders completed more apartments in large multi-unit buildings than ever before.
That the Covid-19 pandemic would bring a big decline in poverty in the U.S. is not something a lot of people were predicting back in March 2020.
When the pandemic hit last year, young adults moved back in with their parents in a big way. Now the share of 18-to-29-year-olds living with parents and grandparents is back about where it was before Covid-19 arrived.
The employment-to-population ratio of Americans ages 25 through 54, the most straightforward measure of the health of the job market, has now clawed back about 80% of its pandemic losses.
Consumer spending on durable goods fell for the sixth month in a row in September, according to inflation-adjusted data released last week.
The brief-but-sharp 2020 recession and its aftermath are already shaping up a lot differently for college enrollment. Census Bureau data released last week, included in the above chart, shows a modest 0.7-percentage-point overall enrollment decline from the previous year as of October 2020 — albeit with an interesting divergence between men (down 1.5 points) and women (down 0.2).
A lot of things can be expected to go back to normal once the Covid-19 pandemic is truly over. Restaurants, cruise ships and resort towns will be packed again. Spending on home improvements will subside.
Much about the business may need to be reimagined and reinvented in the process, but demand for what restaurants offer, though, is surely not going away.