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Is long-haul trucking really facing a driver shortage?

A new government-directed study casts doubt on the long-held idea that trucking is facing a labor shortage.
Based on average wages from 2006 to 2024, experts found long-distance truckers have been making less than their peers working in residential construction.
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Wage growth continues to outpace inflation

Nov 13, 2024
Price growth has moderated. Wage growth hasn't, for the most part.
In October, average hourly earnings rose 4% from the year before. Which means Americans had over 1% more disposable income to spend.
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What is the employment cost index and what does it tell us about the economy?

Oct 31, 2024
The Labor Department's quarterly employment cost index basically tells us how much employers are paying their employees.
The employment cost index basically tells us how much employers are paying their employees.
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The Fed's about to get its preferred measure of inflation. Here's what it could mean.

Oct 30, 2024
The PCE index could come in at the central bank's much-vaunted target of 2% inflation.
The PCE may have dipped to or close to the Federal Reserve's 2% inflation goal, thanks in part to falling gas prices.
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Inflation is falling, but consumers aren't celebrating yet

Oct 10, 2024
The September CPI showed inflation slowing to 2.4% annually, but consumer sentiment hasn't yet rebounded to pre-pandemic levels.
People are still feeling down about the persistence of high prices.
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The economics behind a new program protecting undocumented family members of U.S. citizens

Aug 21, 2024
Work permits can increase wages, workforce participation and job potential for undocumented immigrants.
Having immigration status tends to increase the wages of undocumented workers, according to the Dallas Fed's Pia Orrenius.
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Why the so-called “left behind” bloc might be doing better than you think

The Economist digs into data regarding those who lost their jobs in manufacturing.
Above, the Gautier Steel Mill in Johnstown, Pennsylvania, in September 2016. "The traditional Rust Belt states ... actually have had lower unemployment rates than the national average," said The Economist's Zanny Minton-Beddoes.
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How the consumers of Kent County, Michigan feel about the economy

Aug 6, 2024
The regional economy isn't in bad shape, but many folks say it's hard to get by.
Adreanah Neely says it's hard to find a job right now in Kent County.
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McDonald's sales slipped. That may mean lower-income consumers feel pinched.

Jul 29, 2024
Reporting quarterly results, the fast-food company said customers "continue to be more intentional with the dollars they spend."
McDonald's weak results are prompting varied interpretations. Maybe consumers are tightening their budgets, or maybe they're moving higher up the food chain.
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Continuing unemployment claims hit highest level in more than 2 years

Jul 18, 2024
It may be another data point that helps convince the Fed to start cutting interest rates.
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