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Initial jobless claims reached an 11-week high based on data reported last week. More than 850,000 workers filed initial unemployment claims (Figure 1). While processing delays around the Thanksgiving holiday affected the data, even after adjusting for the break it appears the economic lull …

November turned out to be a month full of news. A surge of COVID-19 cases, the presidential election, vaccine announcements, and slowing economic growth all moved markets. The November employment report provided additional evidence economic growth is decelerating. The economy generated 245, …

The economy seems poised to decelerate in coming weeks as data showed slowing economic improvement or outright reversals of the recovery. Income data was mixed. Disposable income fell 0.8% in October as government programs expired. Gains in employment pushed employee compensation up 0.7% as …

Retail data were mixed last week. U.S. retail sales rose 0.3% in October and are now 5.7% higher than one year ago. But as Figure 1 shows, the increase was the smallest since the recovery began. Increased coronavirus cases in October likely pressured purchases lower and moved consumers onli …

Special Update A second COVID-19 vaccine announced very positive results in its initial trial. A biotechnology company announced Monday their COVID-19 vaccine was more than 94.5% effective. The study also showed there were few side effects observed in the vaccine trial. The effectiveness is …

Special Update The first COVID-19 vaccine to announce results reported very positive data early Monday morning. Two notable pharmaceutical and biotech companies announced on Monday their COVID-19 vaccine was more than 90% effective. The study also showed there were no side effects observed …