ECONOMICS

By John Kingston of FreightWaves

Truck transportation jobs plummeted in August, according to the Bureau of Labor Statistics, with the likelihood that the demise of Yellow Corp. was largely responsible for sending the employment total down by 36,700 employees.

To put that drop in perspective, in the past 10 years the only month with a larger decline was April 2020, when the economy took the full blow from the start of the pandemic. Truck transportation jobs on a seasonal basis (more…)

While the prevailing post-payrolls narrative has focused on the divergence between the stronger than expected (if soon to be revised lower) headline payrolls print (which at 187K came in just above expectations of 170K but followed two sharply downward revised months) and the unexpected spike in the unemployment rate from 3.5% to 3.8%, the highest since Feb 2022, a closer look at the details of today's jobs report reveals just how ugly the reality behind the the Budget-Busting Bidenomics (more…)

Authored by Mihai Macovei via The Mises Institute,

Economic growth in the United States accelerated to a 2.4 percent annualized rate in the second quarter of 2023, picking up from 2.0 percent in the first quarter, and climbing well above the 1.8 percent rate predicted by economists. Many analysts are surprised that the US economy has continued to expand at a robust pace despite the Federal Reserve’s (Fed) aggressive tightening on monetary policy.

The Fed raised interest (more…)