PCE Price Index + Personal Income + Consumer Spending Report for September 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for  September, 2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading: +0.3%

• Actual: +0.5%
  

• Actual: (2017 Chained* Dollars): +0.4%

=============

Personal Income

Previous Reading: +0.2%

• Actual: +0.3%

=============

• Disposable Personal Income (DPI), Now Dollars: +0.3%

• DPI (2017 Chained* Dollars): +0.1%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: +0.1%

• Actual: +0.2% 

• Change from 12 months previous: +2.1%

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.2%

• Actual: +0.3%

• Change from 12 months previous: +2.7%

=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF). 

===================== 

Bureau of Economic Analysis (BEA) Video:
What Is Personal Income?
============

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Employment Situation Report for October 2024

The Employment Situation Report for October 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +12,000

Previous Month (Revised): 223,000
One Year Previous: 165,000

U-3 Unemployment Rate (Headline)
Actual: 4.1%
Previous Month: 4.1%
12 Months Previous: 3.8%

U-6 Unemployment Rate*
Actual: 7.7%
Previous Month: 7.7%
12 Months Previous: 7.2%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.37% (+$0.13)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.99% (+$1.36)

Average Weekly Earnings (month-to-month change)
Actual: +0.37% (+$4.46)

Average Weekly Earnings (year-on-year change)
Actual: +3.99% (+$46.65)

Civilian Labor Force Participation Rate: 62.6%
Previous Month: 62.7%
12 Months Previous: 62.7%

Average Workweek: 34.3 hours
Previous Month: 34.3 hours
One Year Previous: 34.3 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

CHART: Civilian Unemployment Rate
OCTOBER 2004 THRU OCTOBER 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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Employment Situation Report for September 2024

The Employment Situation Report for September 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +254,000

Previous Month (Revised): 159,000
One Year Previous: 246,000

U-3 Unemployment Rate (Headline)
Actual: 4.1%
Previous Month: 4.2%
12 Months Previous: 3.8%

U-6 Unemployment Rate*
Actual: 7.7%
Previous Month: 7.9%
12 Months Previous: 7.0%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.37% (+$0.13)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.97% (+$1.35)

Average Weekly Earnings (month-to-month change)
Actual: +0.08% (+$0.92)

Average Weekly Earnings (year-on-year change)
Actual: +3.37% (+$39.37)

Civilian Labor Force Participation Rate: 62.7%
Previous Month: 62.7%
12 Months Previous: 62.8%

Average Workweek: 34.2 hours
Previous Month: 34.3 hours
One Year Previous: 34.4 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

CHART: Civilian Unemployment Rate
SEPTEMBER 2004 THRU SEPTEMBER 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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PCE Price Index + Personal Income + Consumer Spending Report for August 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for  August, 2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading: +0.5%

• Actual: +0.2%
  

• Actual: (2017 Chained* Dollars): +0.1%

=============

Personal Income

Previous Reading: +0.3%

• Actual: +0.2%

=============

• Disposable Personal Income (DPI), Now Dollars: +0.2%

• DPI (2017 Chained* Dollars): +0.1%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: +0.2%

• Actual: +0.1% 

• Change from 12 months previous: +2.2%

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.2%

• Actual: +0.1%

• Change from 12 months previous: +2.7%

=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF). 

===================== 

Bureau of Economic Analysis (BEA) Video:
What Is Personal Income?
============

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Employment Situation Report for August 2024

The Employment Situation Report for August 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +142,000

Previous Month (Revised): 89,000
One Year Previous: 210,000

U-3 Unemployment Rate (Headline)
Actual: 4.2%
Previous Month: 4.3%
12 Months Previous: 3.8%

U-6 Unemployment Rate*
Actual: 7.9%
Previous Month: 7.8%
12 Months Previous: 7.1%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.4% (+$0.14)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.83% (+$1.30)

Average Weekly Earnings (month-to-month change)
Actual: +0.69% (+$8.31)

Average Weekly Earnings (year-on-year change)
Actual: +3.53% (+$41.20)

Civilian Labor Force Participation Rate: 62.7%
Previous Month: 62.7%
12 Months Previous: 62.8%

Average Workweek: 34.3 hours
Previous Month: 34.2 hours
One Year Previous: 34.4 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

CHART: Civilian Unemployment Rate
AUGUST 2004 THRU AUGUST 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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PCE Price Index + Personal Income + Consumer Spending Report for July 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for July,  2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading: +0.3%

• Actual: +0.5%
  

• Actual: (2017 Chained* Dollars): +0.4%

=============

Personal Income

Previous Reading: +0.2%

• Actual: +0.3%

=============

• Disposable Personal Income (DPI), Now Dollars: +0.3%

• DPI (2017 Chained* Dollars): +0.1%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: +0.1%

• Actual: +0.2% 

• Change from 12 months previous: +2.5%

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.2%

• Actual: +0.2%

• Change from 12 months previous: +2.6%

=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF). 

===================== 

CHART: Disposable Personal Income,
Outlays + Savings - JULY 2024 Update

   =====================
   =====================

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Employment Situation Report for July 2024

The Employment Situation Report for July 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +114,000

Previous Month (Revised): 179,000
One Year Previous: 184,000

U-3 Unemployment Rate (Headline)
Actual: 4.3%
Previous Month: 4.1%
12 Months Previous: 3.5%

U-6 Unemployment Rate*
Actual: 7.8%
Previous Month: 7.4%
12 Months Previous: 6.7%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.23% (+$0.08)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.63% (+$1.23)

Average Weekly Earnings (month-to-month change)
Actual: -0.064% (-$0.77)

Average Weekly Earnings (year-on-year change)
Actual: +3.33% (+$38.68)

Civilian Labor Force Participation Rate: 62.7%
Previous Month: 62.6%
12 Months Previous: 62.6%

Average Workweek: 34.2 hours
Previous Month: 34.3 hours
One Year Previous: 34.3 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

CHART: Civilian Unemployment Rate
July 2004 THRU July 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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PCE Price Index + Personal Income + Consumer Spending Report for June 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for June,  2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading (revised): +0.4%

• Actual: +0.3%
  

• Actual: (2017 Chained* Dollars): +0.2%

=============

Personal Income

Previous Reading: (revised) +0.4%

• Actual: +0.2%

=============

• Disposable Personal Income (DPI), Now Dollars: +0.2%

• DPI (2017 Chained* Dollars): +0.1%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: FLAT

• Actual: +0.1% 

• Change from 12 months previous: +2.5%

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.1%

• Actual: +0.2%

• Change from 12 months previous: +2.6%

=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF). 

===================== 

CHART: Disposable Personal Income,
Outlays + Savings - June 2024 Update

   =====================
   =====================

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Employment Situation Report for June 2024

The Employment Situation Report for June 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +206,000

Previous Month (Revised): 218,000
One Year Previous: 240,000

U-3 Unemployment Rate (Headline)
Actual: 4.1%
Previous Month: 4.0%
12 Months Previous: 3.6%

U-6 Unemployment Rate*
Actual: 7.4%
Previous Month: 7.4%
12 Months Previous: 6.9%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.287% (+$0.10)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +3.86% (+$1.30)

Average Weekly Earnings (month-to-month change)
Actual: +0.287% (+$3.43)

Average Weekly Earnings (year-on-year change)
Actual: +3.56% (+$41.22)

Civilian Labor Force Participation Rate: 62.6%
Previous Month: 62.5%
12 Months Previous: 62.6%

Average Workweek: 34.3 hours
Previous Month: 34.3 hours
One Year Previous: 34.3 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

 CHART: Civilian Unemployment Rate
June 2004 THRU June 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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PCE Price Index + Personal Income + Consumer Spending Report for May 2024

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for May,  2024:

=============

Consumer Spending (Personal Consumption Expenditures)

Previous Reading (revised): +0.1%

• Actual: +0.2%
  

• Actual: (2017 Chained* Dollars): +0.3%

=============

Personal Income

Previous Reading: (unrevised) +0.3%

• Actual: +0.5%

=============

• Disposable Personal Income (DPI), Now Dollars: +0.5%

• DPI (2017 Chained* Dollars): +0.5%

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

=============

Personal Consumption Expenditures (PCE) Price Index
Previous Reading: +0.3%

• Actual: FLAT 

• Change from 12 months previous: +2.6%

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading: +0.3%

• Actual: +0.1%

• Change from 12 months previous: +2.6%

=====================

The yellow-highlighted percentages represent the month-to-month change in the prices associated with domestic personal consumption.  The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

The "predicted" figures are what economists were expecting, while the "actual" figures are the true or real figure.

=====================

Click here to view the full
Commerce Department report (PDF). 

===================== 

CHART: Disposable Personal Income,
Outlays + Savings - May 2024 Update

   =====================
   =====================

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Employment Situation Report for May 2024

The Employment Situation Report for May 2024 was released by The Department of Labor's Bureau of Labor Statistics this morning:

Nonfarm Payrolls (month-to-month change)
Actual: +272,000

Previous Month (Revised): 165,000
One Year Previous: 303,000

U-3 Unemployment Rate (Headline)
Actual: 4.0%
Previous Month: 3.9%
12 Months Previous: 3.7%

U-6 Unemployment Rate*
Actual: 7.4%
Previous Month: 7.4%
12 Months Previous: 6.8%

Average Hourly Earnings (month-to-month change)
Predicted: +0.4%
Actual: +0.403% (+$0.14)

Average Hourly Earnings (year-on-year change)
Predicted: +4.1%
Actual: +4.08% (+$1.37)

Average Weekly Earnings (month-to-month change)
Actual: +0.402% (+$4.80)

Average Weekly Earnings (year-on-year change)
Actual: +3.78% (+$43.63)

Civilian Labor Force Participation Rate: 62.5%
Previous Month: 62.7%
12 Months Previous: 62.6%

Average Workweek: 34.3 hours
Previous Month: 34.3 hours
One Year Previous: 34.4 hours

Economist, academics, central bankers and investors pay very close attention to the monthly Employment Situation report as it offers penetrating insight as to the current and near-future state of the overall U.S. economy. If a) Americans are earning more money and b) the economy is creating new jobs, this typically translates to more money being pumped into the economy (and vice versa.)

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

===================

 

CHART: Civilian Unemployment Rate
May 2004 THRU May 2024

   ===================

 * =  The U-6 Unemployment Rate is defined as:

"Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force."

===================

• Click here to view the full Department of Labor report.

===================

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