CNBC - Economy

Powell sees no interest rate hikes on the horizon as long as inflation stays low

Thu, 14 Jan 2021 21:02:54 GMT

Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.

Jobless claims surge to highest weekly total since August

Thu, 14 Jan 2021 16:10:29 GMT

First-time jobless claims totaled 965,000 last week, the Labor Department said, well above the Dow Jones estimate of 800,000.

The unemployment rate is above 20% for the lowest-paid workers, Fed's Brainard says

Wed, 13 Jan 2021 22:31:43 GMT

Federal Reserve Governor Lael Brainard said the figure underscores the importance of policy help for the economy.

Mortgage refinance demand spikes 20% as borrowers fear missing out on record-low rates

Wed, 13 Jan 2021 12:00:14 GMT

After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb. That lit a fire under borrowers hoping to refinance.

Americans spent a record online over 2020 holidays, and more e-commerce gains are expected

Tue, 12 Jan 2021 15:22:28 GMT

Online shopping over the 2020 holidays in the United States grew 32.2% from 2019s, totaling $188.2 billion, according to Adobe Analytics.

Here's where the jobs are — in one chart

Fri, 08 Jan 2021 17:21:02 GMT

The leisure and hospitality industry saw outsized job losses thanks to a torrent of layoffs at bars and restaurants.

Economy sees job loss in December for the first time since April as surging virus takes toll

Fri, 08 Jan 2021 13:59:45 GMT

Nonfarm payrolls were expected to increase by 50,000 in December, according to economists surveyed by Dow Jones

Weekly jobless claims little changed despite signs that hiring is slowing

Thu, 07 Jan 2021 14:23:43 GMT

Weekly claims totaled 787,000 last week, below the Wall Street estimate for 815,000.

Cash in circulation is soaring, and that usually means good things for the economy

Wed, 06 Jan 2021 14:26:35 GMT

Currency in circulation soared last year at a rate unseen since World War II, providing what historically has been a good sign for the economy.

Private payrolls post first drop since April as coronavirus spread hits job growth, ADP says

Wed, 06 Jan 2021 13:26:22 GMT

The decrease of 123,000 provided a stark sign that the U.S. economy had cooled considerably heading into the end of 2020.

Mortgage demand from homebuyers pulled back sharply, even as rates ended 2020 near record low

Wed, 06 Jan 2021 12:00:01 GMT

The stunning surge in home buying demand, brought on by the coronavirus pandemic, may finally be easing up.

Home prices are rising faster in the middle of the U.S. as Covid drives people away from coasts

Mon, 04 Jan 2021 15:19:54 GMT

Home prices are rising across the nation, but the usual geographical trends are being turned on their heads by the coronavirus pandemic.

Weekly jobless claims fall for a second straight week

Thu, 31 Dec 2020 18:44:28 GMT

The number of people filing for unemployment benefits for the first time unexpectedly fell last week, marking its second straight decline.

November new home sales fall more than expected, builder stocks drop

Wed, 23 Dec 2020 18:37:18 GMT

Sales of newly built homes came in far weaker than expected for November, and builder stocks are not taking it well.

Weekly jobless claims rise less than expected, but hold above 800,000

Wed, 23 Dec 2020 14:27:56 GMT

The number of first-time unemployment-benefits filers decelerated to 803,000 in the week ending Dec. 19.

Existing home sales decline for the first time in 5 months as prices rise and supply falls

Tue, 22 Dec 2020 15:48:47 GMT

After five consecutive months of gains, closed sales of existing homes turned lower in November from October.

Weekly jobless claims unexpectedly rise, hit highest level since early September

Thu, 17 Dec 2020 14:53:17 GMT

Jobless claims unexpectedly rose as lawmakers struggle to push through additional coronavirus stimulus measures.

Fed commits to keep buying bonds until the economy gets back to full employment

Wed, 16 Dec 2020 20:38:16 GMT

The Federal Reserve made a key adjustment in its efforts to support the economy, while upgrading its outlook for growth.

Homebuilder confidence drops from record high as rising prices hit buyers

Wed, 16 Dec 2020 15:17:48 GMT

Homebuilder confidence in the single-family housing market pulled back in December. Builders say they are concerned that buyers are feeling shock.

Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020

Wed, 16 Dec 2020 12:00:01 GMT

Mortgage demand was flat last week, despite record low rates, but demand is substantially higher than it was last year.