Pertinent Category: Daily Economy

Producer Prices Fall in July, Initial Claims Remain Very Low

– August 10, 2017

Producer prices were mostly lower in July. The producer price index for final demand fell 0.1 percent as the goods index fell 0.1 percent and services fell 0.2 percent. Within the goods category, food prices were unchanged in July and energy prices fel …


Productivity and Unit Labor Costs Rise in the Second Quarter

– August 9, 2017

Productivity, or output per hour, for the nonfarm business sector increased 0.9 percent at an annual rate in the second quarter, up from a 0.1 percent pace in the first quarter. Over the past four quarters, productivity increased 1.2 percent. Productiv …


Job Openings Hit a New Record in June, Small-Business Optimism Rebounded in July

– August 8, 2017

A record 6.16 million positions were open at the end of June, according to the Bureau of Labor Statistics, up from 5.70 million at the end of May. Private-sector employers had a record 5.59 million vacancies to fill, up from 5.17 million in May. For th …


Economics Truly Crosses the Curriculum at AIER Workshops

– August 7, 2017

AIER’s economics-across-the-curriculum approach is designed to encourage the infusion of economic concepts into various disciplines and across instructional levels. In 2017 our program attracted a diverse group of participants from middle school to college who are teaching a variety of subjects.      


A Strong July Jobs Report, With a Few Exceptions

– August 4, 2017

Payrolls in the United States rose by 209,000 in July, the second monthly gain above 200,000 in a row. Most, but not all, of the information in the July report was positive and provides evidence for a continuing economic expansion. First, the good news …


Non-Manufacturing Growth Decelerates Slightly in July; Initial Claims Remain Low

– August 3, 2017

Following Tuesday’s report from the Institute for Supply Management suggesting that the manufacturing sector expanded at a slightly slower pace in July, yesterday’s report from the ISM suggests a similar performance for the non-manufacturing sector. Th …


AIER’s 2017 Summer Fellowship Comes to a Close

– August 2, 2017

AIER’s 2017 Summer Fellowship Program comes to a close today. As students are departing, we are reflecting on continued legacy of our founder, Col. E.C. Harwood, who advocated “efforts to promote independent scientific inquiry and education.”


Manufacturing Activity Expands at a Slower Pace in July

– August 1, 2017

The manufacturing sector’s Purchasing Managers’ Index registered a 56.3 reading in July, down from 57.8 in June. The PMI and most of the components remain at solidly favorable levels despite small declines in the latest month. For this index, 50 is neu …


Why a “Blockchain Bubble” Might Be a Good Thing

– July 31, 2017

Some types of bubbles can have long-term economic benefits.


Economic Growth Accelerated in the Second Quarter

– July 28, 2017

The initial estimate for second-quarter real gross domestic product shows the economy expanded at a 2.6 percent annualized rate, up from a revised 1.2 percent pace in the first quarter. The 2.6 percent growth rate is solidly above the 2.1 percent avera …


Aircraft Orders Surge While Core Capital-Goods Orders Stall

– July 27, 2017

New orders for nondefense aircraft and parts surged 131.2 percent in June to $25.3 billion, the third-highest on record. The backlog of unfilled orders rose $13.3 billion to $585.6 billion, just 4.3 percent below its all-time record reached in 2014. Th …


Dear Mr. President, Part 2

– July 26, 2017

In 1969, as the war in Vietnam was raging, AIER Founder Edward C. Harwood and his brothers wrote an open letter to President Richard Nixon.