For three consecutive months, the Consumer Price Index has revealed above-average annual inflation rates not seen since 2008. Understandably, Americans are nervous. Prices are rising and the Federal Reserve was caught by surprise. Many of the same public officials who have, for years, insisted that inflation should be higher are now scrambling to assure Americans
Hotel rooms for $1,000 a night. Gasoline prices spiking. Even bottled water prices doubling or tripling overnight. Officials in Texas say the winter storm that knocked out power and water to millions of residents is providing an opportunity for some unscrupulous merchants to take advantage of the situation by charging exorbitant prices for essential supplies.
The latest data from the Bureau of Labor Statistics provides a glimpse into current economic conditions. Although a modest number of jobs were created overall last month, certain types of businesses continue to be hammered by the pandemic and its ripple effects. For example, the leisure and hospitality industry—largely made up of restaurants and hotels—shed 61,000 jobs
As COVID-19 pummels away in Arizona, unemployment in the state dipped slightly in December, with the restaurant and entertainment industries continuing to take the hardest hits. The state unemployment rate was 7.5% last month, compared with 8% in November, putting Arizona among 20 states with the good fortune to post December decreases, according to the