US job growth steadied last month while the unemployment rate rose — a mixed snapshot of a job market hanging on the balance of quickly changing government policy.
The Bureau of Economic Analysis says gross domestic product (GDP) rose at an unrevised 2.3% annualized pace in the fourth quarter. This was the second report about the economy with the advance reading out last month.
US housing starts slowed in January as builders pulled back on single- and multifamily home construction amid growing worries over mortgage rates and unsold homes.
Here is a quick summary of this earnings season so far. As of last Friday, 72% of the S&P 500 companies had reported with the index showing a very strong 13.3% year-over-year growth so far relative to the expectation for 7.3% growth.
The Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey, known as JOLTS, released Tuesday showed openings were 7.6 million in December, a three month low.
The Federal Open Market Committee voted unanimously to keep the federal funds rate target, its main monetary policy tool, in a range of 4.25%-5.00% as expected.