Inflation numbers due to be released later Friday by the U.S. Bureau of Labor Statistics (BLS) are expected to show consumer prices rising at their fastest pace since 1982, with investors bracing for what could be a market-moving data drop.
U.S. unit labor costs rose sharply in the third quarter, while productivity declined at its fastest pace since 1960, adding to signs of persistently high inflation.
Though unemployment fell to its lowest level in nearly two years, the U.S. added back a worse-than-expected 210,000 jobs in November—indicating the labor market is still struggling to add back jobs lost during the pandemic amid the looming threat of a new coronavirus variant.
Epidemiologist compiles massive trove of research studies demonstrating "that Covid-19 lockdowns, shelter-in-place policies, masks, school closures, and mask mandates have failed in their purpose of curbing transmission or reducing deaths."
Slapped on a gas pump next to the digital meter display, the stickers tell a simple, powerful story: Today’s gasoline prices, the highest in years, are courtesy of the commander in chief.
Inflation outstripped forecasts and surged above 4 per cent last month to hit its highest level in almost a decade as spiralling energy prices pushed up the cost of living.
In August, 4.3 million people — a record number — quit their jobs for a variety of reasons. It was believed that once the labor market began to settle down after the disruptions caused by the pandemic those numbers would ease and the demand for work would catch up with the supply of jobs.
