Employment-Cost Report Shows Worker Pay Gains Held Nearly Steady in Fourth Quarter
Employer spending on wages and benefits remained elevated last quarter but showed modest signs of cooling. Source link
Inflation
Consumer Spending Fell 0.2% in December as Inflation Cooled
EconomyU.S. EconomyUnderlying inflation cooled to its slowest pace since October 2021. Source link
The US economy grew by 2.9% in the fourth quarter, more than expected | CNN Business
Minneapolis CNN — The US economy expanded again during the fourth quarter, registering solid growth to end 2022 even as...
GDP Report Shows Economic Growth Cooled Slightly in Fourth Quarter
U.S. economic growth cooled slightly to a 2.9% annual rate in the fourth quarter, capping a year of high inflation...
Surge in Hiring by Small Business Complicates Fed’s Effort to Cool Economy
EconomyU.S. EconomyCentral bankers point to labor market as a primary driver of high inflation Source link
China’s Reopening Complicates Global Fight Against Inflation
A stronger Chinese economy would boost demand for commodities but could also ease supply-chain bottlenecks—resulting in mixed signals for central...
Consumer Prices Plateau as Inflation Slows to Prepandemic Levels
After a period of steep inflation, Americans have seen monthly price growth ease, but when will things get back to...
Inflation in Japan hits highest level in 41 years | CNN Business
Tokyo Reuters — Japan’s core consumer prices in December rose 4.0% from a year earlier, double the central bank’s 2%...
Top Fed Official Sees Inflation Decline as Notable Improvement
A top Federal Reserve official said the recent decline in inflation was an important development that could raise questions over...
U.S. Retail Sales Fell 1.1% in December
EconomyU.S. EconomySales see biggest monthly decline of 2022 as consumers cut back at height of holiday season Source link
Why Egypt is asking its people to eat chicken feet | CNN Business
Editor’s Note: A version of this story appears in today’s Meanwhile in the Middle East newsletter, CNN’s three-times-a-week look inside...
Workers Lose Ground to Inflation Despite Big Wage Gains
EconomyRecent data suggest a shift is under way, with paycheck totals gaining as inflation recedes Source link
Egg prices exploded 60% higher last year. These food prices surged too | CNN Business
Minneapolis CNN — Eggs, milk, butter, flour … if you were making pancakes last year, it would have cost you....
Hiring, Wage Gains Eased in December, Pointing to a Cooling Labor Market in 2023
Employers added 223,000 jobs in December, the smallest gain in two years Source link
Job Openings Held Nearly Steady in November, Showing Still-Strong Labor Demand
The historically high levels of available positions showed demand for labor remained strong at the end of 2022. Source link
Here’s what will drive markets this year | CNN Business
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign...
Stay for Pay? Companies Offer Big Raises to Retain Workers
EconomyU.S. EconomyRecent record-high wage gains for workers who remain in their jobs are a factor contributing to inflation Source link
Here’s what could tip the global economy into recession in 2023 | CNN Business
London CNN — The global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central...
Consumer Spending Tapered Off Ahead of the Holidays
Households boosted spending on services while cutting outlays on goods, including autos. The outlook for the holiday-shopping season remains murky....
UK wages next year will be at their lowest level since 2006, report says | CNN Business
London CNN — Brits hoping for a new-year salary bump to offset soaring food and energy costs may be disappointed....
