Household Debt Service Ratio Stood at 9.8% in Q4
The percentage of disposable personal income going to pay household debt was 9.8% in the fourth quarter of 2023, according to the Federal Reserve Bank of St. Louis. That was […] read more >
Central Arkansas Retail Sales Rise 3.2% in 2023
Retail sales in central Arkansas rose 3.2% in 2023 compared with the previous year, according to an April report by Metroplan, the region’s planning agency. Total sales were $19.2 billion, […] read more >
Labor Force Participation Rate Hits 83.6% Among Prime-Age Workers
The labor force participation rate among primeage workers in the United States, defined as those ages 25-54, hit 83.6% in May, according to the U.S. Bureau of Labor Statistics. That […] read more >
US Hiring and Wage Growth Was Stronger Than Expected Last Month
Last month’s sizable job gain suggests that the economy is still growing steadily, propelled by consumer spending on travel, entertainment and other services. read more >
by Associated Press -
Younger Americans Lead Older Generations in Family Wealth
Younger Americans owned $1.22 for every $1 of wealth owned by baby boomers, on average, at close to the same age. read more >
Retail Sales in Arkansas Slow in 2023
Total retail spending in Arkansas increased 2.4% in 2023 compared with 2022, according to economist Michael Pakko. In the U.S., total retail spending rose 2.6% last year compared with the […] read more >
US Air Travel Continues Rebound
Aviation revenue passenger-miles, a measurement of the volume of air passenger transportation, stood at 91.8 million in January in the United States, surpassing the pre-pandemic high of 91 million reached […] read more >
Average Long-Term US Mortgage Rate Climbs Above 7% to Highest Level Since Late November
The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.39%. read more >
Mobile Banking Usage Grows to 64% of US Account Holders
The share of bank account holders in the United States who used mobile banking reached 64% in the fourth quarter of 2023, a six percentage point increase over the rate […] read more >
Average Long-Term US Mortgage Rate Rises Modestly This Week, Holding Just Below 7%
LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose modestly this week, holding below 7% as it has for much of this year. The average rate on a […] read more >
by Associated Press -
US Applications for Jobless Benefits Rise to Highest Level in Two Months, but Layoffs Remain Low
Many economists thought rapid rate hikes could potentially tip the country into recession, but jobs have remained plentiful. read more >
by Associated Press -
US Job Openings Rise Modestly to 8.8 Million in February in Strong Labor Market
WASHINGTON (AP) — U.S. job openings barely changed in February, staying at historically high levels in a sign that the American job market remains strong. The Labor Department reported Tuesday […] read more >
by Associated Press -
Here are the Big Hurdles to the Global Push to Build Up Renewable Energy
The world’s governments have agreed they want to triple renewable energy by 2030, a goal laid out at the U.N. climate summit in December. But right now, the post-pandemic global […] read more >
by Associated Press -
US Economic Growth for Last Quarter is Revised Up to a Healthy 3.4%
It marked the sixth straight quarter in which the economy has grown at an annual rate above 2%. read more >
Small Business Hiring Woes Show Signs of Easing as Economy Stays Strong
The CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.17% in February as the U.S. economy stays strong despite high interest rates. read more >
by Associated Press -
Average Long-Term US Mortgage Rate Climbs Back to Nearly 7% After Two-Week Slide
The average rate on a 30-year mortgage rose to 6.87% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.42%. The average rate is now just below where it was two weeks ago. read more >
by Associated Press -
February Home Sales Hit Strongest Pace in a Year
The pickup in sales helped push up home prices compared with a year earlier for the eighth month in a row. read more >
Inflation Remains a Headache for Small Business Owners
The National Federation of Independent Businesses' Optimism Index fell to 89.4 in February. It's been below the 50-year average of 98 for 26 straight months. read more >
by Associated Press -
Home Sellers are Cutting List Prices as Spring Buying Season Starts With Higher Mortgage Rates
Some 14.6% of U.S. homes listed for sale last month had their price lowered, according to Realtor.com. That’s up from 13.2% a year earlier, the first annual increase since May. In January, the percentage of homes on the market with price reductions was 14.7%. read more >
by Associated Press -
21% of US Businesses are Minority-Owned
Of the about 5.9 million employer businesses in the United States in 2021, 1.2 million, or 21%, were minority-owned; 406,086, or 6.9%, were Hispanic-owned; and 1.3 million, or 22%, were […] read more >
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