g5000
Diamond Member
- Nov 26, 2011
- 127,225
- 70,970
- 2,605
I know this will deeply disappoint MAGA World's prayers for a recession.
The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, suggesting that the labor market remained fairly healthy.
The upbeat outlook on the economy was underscored by other data on Thursday showing corporate profits increased at a more robust pace than initially thought in the second quarter.
[snip]
STRONG ECONOMIC GROWTH
A separate report from the Commerce Department's Bureau of Economic Analysis showed corporate profits including inventory valuation and capital consumption adjustments increased at a $132.5 billion annualized rate in the second quarter. They were revised up from the $57.6 billion pace estimated last month.
The revision reflected a sharp upgrade to domestic profits of nonfinancial corporations, now estimated to have increased $108.8 billion, instead of $29.2 billion. That could support business spending on equipment.
Income at the disposal of households was also solid.
Full time employment growth has been robust under Biden, and exceeds full time employment under the previous administration.
Low weekly US jobless claims, robust corporate profits highlight economy's resilience
The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, suggesting that the labor market remained fairly healthy.
The upbeat outlook on the economy was underscored by other data on Thursday showing corporate profits increased at a more robust pace than initially thought in the second quarter.
[snip]
STRONG ECONOMIC GROWTH
A separate report from the Commerce Department's Bureau of Economic Analysis showed corporate profits including inventory valuation and capital consumption adjustments increased at a $132.5 billion annualized rate in the second quarter. They were revised up from the $57.6 billion pace estimated last month.
The revision reflected a sharp upgrade to domestic profits of nonfinancial corporations, now estimated to have increased $108.8 billion, instead of $29.2 billion. That could support business spending on equipment.
Income at the disposal of households was also solid.
Full time employment growth has been robust under Biden, and exceeds full time employment under the previous administration.
Employed, Usually Work Full Time
Graph and download economic data for Employed, Usually Work Full Time (LNS12500000) from Jan 1968 to Aug 2024 about full-time, 16 years +, household survey, employment, and USA.
fred.stlouisfed.org
