The U.S. Economy – what caught my eye this week: Initial jobless claims, import prices, and the American middle class time squeeze

In the week ending September 12, 860,000 Americans registered to claim for jobless benefits (seasonally adjusted). Although the steady decrease in the initial weekly claims continues, the numbers are still high:

Changes in U.S. real average hourly earnings from June 2009 to December 2019 (very interesting!):

In August, U.S. import prices increased by 0.9 percent according to the Bureau of Labor Statistics (both higher fuel and nonfuel import prices contributed to the increase). Prices for U.S exports also increased by 0.5 percent. Here is the full news release:

Adam Posen on employment goals of central banks:

John Williams (President of the Federal Reserve Bank of New York) on the revised monetary policy framework of the Fed: “A new chapter for the FOMC monetary policy framework”:

The American middle class time squeeze

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