The Bureau of Labor and Statistics (BLS) released April’s jobs report Friday, noting 175,000 jobs were added and the unemployment rate rose slightly to 3.9%. America’s Credit Unions Vice President of Data & Research and Chief Economist Mike Schenk analyzed the data. “The Bureau of Labor Statistics April jobs report was generally favorable: job gains …
The Federal Open Market Committee (FOMC) agreed to maintain the current target range for the federal funds rate between 5.25 to 5.5% during its two-day meeting that ended Wednesday. The committee’s statement noted “considering any adjustments to the target range for the federal funds rate, [they] will carefully assess incoming data, the evolving outlook, and …
The Bureau of Economic Analysis Thursday released 2024’s first quarter gross domestic product (GDP) report, which showed an annual rate increase of 1.6%. “GDP fell shy of expectations in the first quarter, registering the slowest pace of growth in nearly two years. However, key components like consumption and business fixed investment remained strong, while volatile …
Q1 GDP ‘fell shy of expectations,’ but had some strong components Read More »
The dollar amount of credit union loans outstanding decreased -0.06% in February, according to America’s Credit Unions’ latest Monthly Credit Union Estimates, compared to a -0.06% decrease in January and a 0.38% increase in February of 2023. The estimates are based on information from a monthly sample of credit unions and are revised when quarterly …
The Bureau of Labor and Statistics (BLS) released March’s consumer price index report Wednesday, noting inflation rose 0.4% last month. “Victory in the Federal Reserve’s inflation fight remains elusive with a stubbornly high headline consumer price index increase of 0.4% in March, matching February’s disappointing result,” said America’s Credit Unions’ Vice President of Research and …
The Bureau of Labor and Statistics (BLS) released March’s jobs report Friday, noting 303,000 jobs were added and the unemployment rate rose slightly to 3.8%. Jobs gains were mostly seen in health care, government, and construction. Employment in leisure and hospitality trended up in March and has returned to its pre-pandemic February 2020 level. “The …
March’s jobs report signals ‘easing pressure on inflation’ Read More »
Updated data from America’s Credit Unions’ Consumer Pulse Survey shows the credit union difference resonates with members, including those of key demographic groups, according to the latest Economic Update from America’s Credit Unions’ Mike Schenk. The Consumer Pulse Survey polled 2,500 consumers in February with questions centered on financial behaviors and outcomes, trustworthiness, and connections …
Members recognize credit unions’ consumer-friendly approach Read More »
The economy might look good by the numbers, but there’s still a lot of consumer uncertainty, America’s Credit Unions’ economic team told the BIGCast in its recent episode from the Governmental Affairs Conference (GAC). America’s Credit Unions’ Ligia Vado called it a “vibe-cession,” noting that consumers do not seem very optimistic. “Even though the economy …
Economists talk conflicting numbers, consumer concerns Read More »
The Bureau of Labor and Statistics (BLS) released February’s consumer price index report Tuesday, noting inflation currently sits at 3.2%. “Inflation increased in February higher than expected, reversing the encouraging easing trend observed in the last quarter of the previous year,” said America’s Credit Unions Dawit Kebede. “Both headline and core prices showed a monthly …
Inflation report continues to be hotter than expected Read More »
The Bureau of Labor and Statistics (BLS) released February’s jobs report Friday, noting 275,000 jobs were added and the unemployment rate rose to 3.9%. Jobs gains were mostly seen in health care, government, bars and restaurants, transportation and warehousing. “Results from the February jobs report were somewhat soft, though not alarmingly so,” said America’s …
