Macro: Growth of the U.S. Economy
* Initial FED GDPNow model annualized estimate for Q4 2022 updated 12/01/22.
BEA 3rd Quarter 2022 Real GDP Growth Estimate: +2.9%
* BEA 2nd estimate of Q3 2022 real GDP annualized growth reported 11/30/22, following a decrease of -0.6% in 2nd quarter 2022.
Rate of Inflation year over year for October: +7.7%
* BLS annualized rate of inflation for Octoner reported 11/10//22 down from 8.2% for September, and still one of the highest rates of inflation since 1981.
Real Wages annualized for October deceased by: -3.7%
Real average weekly earnings annualized for October reported by the BLS on 11/10/22.
Producer Price Index for October down to: +8.0%
*BLS producer price index for final demand annualized in October reported 11/15/22.
"Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output."
Macro: Employment in the U.S. Economy
*DOL weekly claims for unemployment data reported 11/23/22.
* *Non-farm Employment in October was lower at: 261,000
* *BLS employment data for October 2022 reported 11/04/22.
* **BLS job openings on last day of October down 4.3% from September as reported 11/30/22.