Economic Indicators

American households are grappling with the steepest price increase in four decades, paying more for everything from cars to gasoline to food as uncomfortably hot inflation erodes most workers' wage gains.

Inflation notched another four-decade high in January, as strong consumer demand and pandemic-related supply-chain snarls fueled rapid price gains that wiped out the benefits of rising wages for most Americans.

President Biden signed an executive order requiring project labor agreements, or agreements with labor organizations, for all federal construction projects over $35 million.

The U.S. economy added jobs at a surprisingly rapid pace in January, with restaurants and bars leading the way in hiring as consumers brushed off a record-breaking spike in COVID-19 infections.

The Labor Department's January jobs report provides a snapshot of the labor market last month, shedding light on how the omicron variant affected the economy.

Sen. Rand Paul released a report that digs into rising inflation, saying it's "only going to get worse" from here.

The record-breaking surge in COVID-19 cases likely dampened January job growth, with the latest payroll estimate on Friday morning expected to show that hiring slowed markedly last month as the omicron variant sidelined millions of workers.

The Labor Department said Thursday that 238,000 Americans filed for unemployment benefits last week.

As prices rise and consumers look for ways to stretch their dollars, some are saving big with digital deals, like coupons.

Bank of America economists expect the Federal Reserve to hike interest rates at every meeting for the remainder of the year as central bank policymakers look to tackle inflation.

Annual inflation is running at the hottest pace in nearly four decades as widespread supply disruptions, extraordinarily high consumer demand and worker shortages fuel rapidly rising price increases.

The hottest inflation in nearly four decades is inflicting financial pain on millions of U.S. households as prices for everyday necessities like food and gasoline continue to surge, according to a new survey.

GDP, the broadest measure of goods and services, surged by 6.9% in the final three months of the year, the Commerce Department said on Thursday.

The Federal Reserve on Wednesday signaled plans for its first interest rate hike in three years, paving the way for a March liftoff as policymakers seek to keep prices under control and combat the hottest inflation in nearly four decades.

The Federal Reserve is expected to signal its first interest rate hike in three years during a pivotal two-day meeting this week, opening the door to a March liftoff as policymakers seek to combat the hottest inflation in four decades.

Red-hot inflation and the fast-spreading omicron variant are hindering the global economic recovery from the coronavirus pandemic, the International Monetary Fund warned on Tuesday.

The weekly Labor Department data sheds fresh light on how a recent surge in COVID-19 cases is affecting the economy.

House Majority Leader Steny Hoyer argued that President Biden is doing a good job fostering the United States' economic recovery from the pandemic.

U.S. retail sales unexpectedly declined in December, suggesting that consumers are pulling back on spending as they face surging prices and an acceleration in COVID-19 infections.

The December jobs report came in lower than expected. However, experts explain why the Fed is still likely to raise interest rates in the first quarter of 2022.