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   NEWS: CNBC ECONOMY
CNBC Economy
Jan 21, 2021

Jobless claims show modest decline as Congress works on more stimulus
Jobless claims for the week ended Jan. 16 totaled 900,000, the Labor Department reported, slightly better than the Wall Street estimate of 925,000.

CNBC Economy
Jan 20, 2021

Spike in lumber and land prices causes homebuilder confidence to fall from epic high
The rising costs of getting homes built is making builders less optimistic.

CNBC Economy
Jan 20, 2021

Weekly mortgage refinance demand drops 5% after rates hit highest level since November
Several weeks of rising rates are dousing what was incredibly high demand for refinancing, according to Mortgage Bankers Association data.

CNBC Economy
Jan 14, 2021

Powell sees no interest rate hikes on the horizon as long as inflation stays low
Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery.

CNBC Economy
Jan 14, 2021

Jobless claims surge to highest weekly total since August
First-time claims for unemployment insurance were expected to total 800,000 last week, according to economists surveyed by Dow Jones.

CNBC Economy
Jan 13, 2021

The unemployment rate is above 20% for the lowest-paid workers, Fed's Brainard says
Federal Reserve Governor Lael Brainard said the figure underscores the importance of policy help for the economy.

CNBC Economy
Jan 13, 2021

Mortgage refinance demand spikes 20% as borrowers fear missing out on record-low rates
After setting more than a dozen record lows last year, mortgage rates began 2021 on an upward climb. That lit a fire under borrowers hoping to refinance.

CNBC Economy
Jan 12, 2021

Americans spent a record online over 2020 holidays, and more e-commerce gains are expected
Online shopping over the 2020 holidays in the United States grew 32.2% from 2019s, totaling $188.2 billion, according to Adobe Analytics.

CNBC Economy
Jan 08, 2021

Economy sees job loss in December for the first time in eight months as surging virus takes toll
Nonfarm payrolls fell by 140,000 in December, the Labor Department said, against the Dow Jones consensus estimate for a 50,000 gain.

CNBC Economy
Jan 08, 2021

Here's where the jobs are — in one chart
The leisure and hospitality industry saw outsized job losses thanks to a torrent of layoffs at bars and restaurants.

CNBC Economy
Jan 08, 2021

Economy sees job loss in December for the first time since April as surging virus takes toll
Nonfarm payrolls were expected to increase by 50,000 in December, according to economists surveyed by Dow Jones

CNBC Economy
Jan 07, 2021

Weekly jobless claims little changed despite signs that hiring is slowing
Weekly claims totaled 787,000 for the week ended Jan. 2, the Labor Department reported Thursday.

CNBC Economy
Jan 06, 2021

Private payrolls post first drop since April as coronavirus spread hits job growth, ADP says
The decrease of 123,000 provided a stark sign that the U.S. economy had cooled considerably heading into the end of 2020.

CNBC Economy
Jan 06, 2021

Cash in circulation is soaring, and that usually means good things for the economy
Currency in circulation soared at a rate unseen since World War II last year, providing what historically has been a good sign for the economy.

CNBC Economy
Jan 06, 2021

Mortgage demand from homebuyers pulled back sharply, even as rates ended 2020 near record low
The stunning surge in home buying demand, brought on by the coronavirus pandemic, may finally be easing up.

CNBC Economy
Jan 04, 2021

Home prices are rising faster in the middle of the U.S. as Covid drives people away from coasts
Home prices are rising across the nation, but the usual geographical trends are being turned on their heads by the coronavirus pandemic.

CNBC Economy
Dec 31, 2020

Weekly jobless claims fall for a second straight week
The number of people filing for unemployment benefits for the first time unexpectedly fell last week, marking its second straight decline.

CNBC Economy
Dec 23, 2020

November new home sales fall more than expected, builder stocks drop
Sales of newly built homes came in far weaker than expected for November, and builder stocks are not taking it well.

CNBC Economy
Dec 23, 2020

Weekly jobless claims rise less than expected, but hold above 800,000
The number of first-time unemployment-benefits filers decelerated to 803,000 in the week ending Dec. 19.

CNBC Economy
Dec 22, 2020

Existing home sales decline for the first time in 5 months as prices rise and supply falls
After five consecutive months of gains, closed sales of existing homes turned lower in November from October.

CNBC Economy
Dec 17, 2020

Weekly jobless claims unexpectedly rise, hit highest level since early September
Jobless claims unexpectedly rose as the coronavirus pandemic continues to pressure the economy while lawmakers struggle to push through new government aid.

CNBC Economy
Dec 16, 2020

Fed raises its economic outlook slightly, sees 4.2% growth next year and 5% unemployment rate
The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to the decline of 3.7% predicted in September.

CNBC Economy
Dec 16, 2020

Fed commits to keep buying bonds until the economy gets back to full employment
The Federal Reserve made a key adjustment in its efforts to support the economy, while upgrading its outlook for growth.

CNBC Economy
Dec 16, 2020

Homebuilder confidence drops from record high as rising prices hit buyers
Homebuilder confidence in the single-family housing market pulled back in December. Builders say they are concerned that buyers are feeling shock.

CNBC Economy
Dec 16, 2020

Refinance demand jumps 105% annually, as mortgage rates set 15th record low of 2020
Mortgage demand was flat last week, despite record low rates, but demand is substantially higher than it was last year.

CNBC Economy
Dec 15, 2020

The Fed could disappoint markets Wednesday, even if it keeps a super dovish tone
The Fed could disappoint at least some market pros who are expecting immediate changes in its bond buying program.

CNBC Economy
Dec 15, 2020

'It's an economic war'— Warren Buffett urges Congress to extend relief for small businesses
Warren Buffett urged Congress to extend aid to small businesses as they continue to struggle through the coronavirus pandemic.

CNBC Economy
Dec 15, 2020

Goldman Sachs CEO David Solomon says 90% of small businesses have exhausted PPP funds
Solomon's comments come as lawmakers are taking negotiations to approve another coronavirus stimulus bill down to the wire.

CNBC Economy
Dec 11, 2020

Almost 40% of Americans plan to spend less this holiday season as the Covid pandemic lingers
The average American plans to spend just $886, down 10% from their planned spending last year, according to the CNBC All-America Economic Survey.

CNBC Economy
Dec 10, 2020

Rising unemployment claims could be foreboding for the economy
The surprise jump in jobless claims filings signals a weakening in the labor market that could drag on the economy into the first quarter.

CNBC Economy
Dec 10, 2020

Jobless claims rise more than expected after break from holiday
First-time claims for unemployment insurance totaled 853,000, an increase from the upwardly revised 716,000 total a week before.

CNBC Economy
Dec 10, 2020

Homeowners are $1 trillion richer thanks to the pandemic-driven housing boom
Soaring home prices are padding the pockets of millions of homeowners across the nation. As prices rise, home equity multiplies.

CNBC Economy
Dec 09, 2020

Mortgage rates set 14th record low of the year, driving even more refinance demand
Mortgage rates fell even more, and that is causing a surge in mortgage refinancing.

CNBC Economy
Dec 08, 2020

Even with a Covid vaccine, U.S. economy will likely get worse before it gets better: Ned Davis Research
U.S. stocks are in "the storm before the calm" as Covid-19 cases rise, new restrictions are introduced and stimulus fades, says economist Alejandra Grindal.

CNBC Economy
Dec 08, 2020

Economic growth will be better than expected thanks to the resilient services sector, Goldman says
Economists have been worried that the aggressive virus spread will exact an especially large toll on the services sector.

CNBC Economy
Dec 08, 2020

Universal basic income could decimate cities next year, one bank says in its ‘outlandish forecasts'
Saxo Bank on Tuesday outlined 10 "outlandish forecasts" for 2021, although it did stress these are not its "official" views.

CNBC Economy
Dec 08, 2020

Wells Fargo CEO Scharf sees swift recovery for US economy in 2021 as vaccines are rolled out
Banks have put up tens of billions of dollars for loan loss reserves tied to the pandemic this year, although most of those reserves haven't been needed yet.

CNBC Economy
Dec 08, 2020

Borrowers looking to use Fed's Main Street lending program run into dead end
Steven Mnuchin's decision not to extend funding for the Federal Reserve's Main Street Lending Facility after Dec. 31 already looks to be cutting into lending.

CNBC Economy
Dec 05, 2020

Hispanic unemployment from Covid-19 has been cut in half, but can it last?
Job opportunities for Hispanics remain uncertain, even as the jobless rate has been cut in half from the Covid-19 peak level of 16%.

CNBC Economy
Dec 04, 2020

Biden warns the economy is stalling after 'dire' jobs report, calls for 'urgent action' on Covid stimulus
Biden said Friday's underwhelming jobs report foreshadows a "dark winter" that demands "urgent action" from Trump and Congress.

CNBC Economy
Dec 04, 2020

Biden says 'dire' jobs report shows stalling economy, calls on Trump and Congress to pass stimulus
Biden said Friday's underwhelming jobs report foreshadows a "dark winter" that demands "urgent action" from Trump and Congress.

CNBC Economy
Dec 04, 2020

Jobs report shows weakening trend heading into holidays, increasing the case for stimulus
Job growth slowed in November and looks set to decline even more, as the spreading pandemic hits all sorts of economic activity.

CNBC Economy
Dec 04, 2020

Employment growth slows sharply in November amid coronavirus surge
Economists surveyed by Dow Jones had been looking for 440,000 and the jobless rate to decrease to 6.7% from 6.9% in October

CNBC Economy
Dec 03, 2020

Christmas tree sales are telling a holly, jolly economic story
Tree sales are up 29% so far in 2020, according to a survey of retailers done by Evercore ISI.

CNBC Economy
Dec 03, 2020

The pace of job gains likely slowed in November due to the impact of virus shutdowns
Job gains in November are expected to be weaker than in October, reflecting the impact of virus-related shutdowns by states and local governments.

CNBC Economy
Dec 03, 2020

Jobless claims hit pandemic-era low as hiring continues even with rising Covid cases
First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000.

CNBC Economy
Dec 03, 2020

Extending pandemic unemployment benefits into 2021 could save 5.1 million jobs, according to report
Continuing pandemic jobless relief into the next year could boost GDP by 3.5% and increase total personal income by more than $440 billion.

CNBC Economy
Dec 02, 2020

Kaplan says he's not in favor of Fed increasing bond purchases
Kaplan said he wouldn't be in favor of changing the bond-purchasing program even though he sees rocky times ahead for the economy.

CNBC Economy
Dec 02, 2020

Hiring falls off in November to slowest rate since July
Companies hired 307,000 workers for the month, ADP said, well below the 475,000 estimate from a Dow Jones survey of economists.

CNBC Economy
Dec 02, 2020

ADP reports hiring slowdown in November ahead of government payrolls report
Companies hired 307,000 workers for the month, well below the 475,000 estimate from a Dow Jones survey of economists.

CNBC Economy
Dec 02, 2020

Mortgage demand from homebuyers spikes 28%, and the average loan amount sets a record high
Mortgage applications to purchase a home jumped dramatically last week as interest rates sat at a record low, and buyers didn't take a holiday.

CNBC Economy
Dec 02, 2020

China continuing to outpace the U.S. economy, CFO survey reveals
China's economic gains place it ahead of the U.S. and other regions in achieving growth after the pandemic, according to the Q4 CNBC Global CFO Council Survey.

CNBC Economy
Nov 30, 2020

Weekly jobless claims counts are inaccurate and the unemployed are being underpaid, watchdog says
Mistakes have moved in both directions, with recipients sometimes undercounted and at other times overcounted, according to the GAO.

CNBC Economy
Nov 30, 2020

October pending home sales fall unexpectedly, as high prices take their toll on buyers
Strong, pandemic-induced demand for housing is still there, but buyers may now be hitting an affordability wall.

CNBC Economy
Nov 25, 2020

Weekly jobless claims higher than expected as labor market takes hit from rising Covid cases
Claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones.

CNBC Economy
Nov 25, 2020

Another record low mortgage rate just caused demand to jump for both refinances and home purchases
Mortgage interest rates have set record lows more than a dozen times this year, and last week there was yet another. That caused mortgage applications to rise.

CNBC Economy
Nov 20, 2020

JPMorgan becomes first major bank to say first-quarter GDP will decline because of Covid surge
Wall Street had been expecting a positive first quarter and improving growth next year.

CNBC Economy
Nov 20, 2020

JPMorgan becomes first major bank to say first quarter GDP will decline because of coronavirus surge
Wall Street had been expecting a positive first quarter and improving growth next year.

CNBC Economy
Nov 19, 2020

October existing home sales see 'spectacular' 26.6% annual gain even with short supply and surging prices
Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually.

CNBC Economy
Nov 19, 2020

Jobless claims filings pick up amid continued struggles for labor market
First-time filings for unemployment claims were expected to total 710,000 last week, according to economists surveyed by Dow Jones.

CNBC Economy
Nov 17, 2020

Bostic says Fed's tools still have 'juice' and will be used if the economy slows
Even with the prospects of at least two vaccines, Bostic said there are multiple pockets of the economy that will need assistance.

CNBC Economy
Nov 12, 2020

Here are the things that scare Jerome Powell the most about the economy right now
Powell said he worries about women, children and business owners who face long-term consequences from the coronavirus.

CNBC Economy
Nov 12, 2020

Weekly jobless claims fall again in another sign of labor market improvement
Jobless claims totaled 709,000 last week, below the 740,000 Wall Street forecast.

CNBC Economy
Nov 11, 2020

Fed's Rosengren says next 6 months will be 'pretty choppy' despite vaccine news
Eric Rosengren, president of the Federal Reserve Bank of Boston, told CNBC the next six months will be "pretty choppy" despite covid vaccine news.

CNBC Economy
Nov 11, 2020

Covid vaccine won't be an ‘instant stimulus' to the U.S. economy, warns economist
The U.S. economy can't depend on a coronavirus vaccine to "solve all our problems," said Carl Tannenbaum, chief economist at Northern Trust.

CNBC Economy
Nov 06, 2020

Unemployment is falling. Long-term unemployment is ballooning
The unemployment rate continues to fall, but the share of unemployed out of work for at least six months is rapidly accelerating.

CNBC Economy
Nov 06, 2020

Jobs report shows labor market stronger than expected, as economy faces new surge in Covid cases
The labor market was stronger than expected in October, showing good momentum ahead of the latest wave of coronavirus cases.

CNBC Economy
Nov 06, 2020

Job growth stronger than expected in October, unemployment rate slides to 6.9%
Nonfarm payrolls increased by 638,000 in October and the unemployment rate fell to 6.9%, both much better than expected.

CNBC Economy
Nov 06, 2020

There are 'pretty high' risks of the U.S. economy backtracking, Moody's economist warns
"We are suffering a very significant reintensification of the virus ... that's going to start doing some damage," said Mark Zandi of Moody's Analytics.

CNBC Economy
Nov 05, 2020

Job growth expected to have slowed in October, as rehirings drop off, layoffs increase
Job growth was expected to total 530,000 in October, and the unemployment rate is expected to fall to 7.7%, according to Dow Jones.

CNBC Economy
Nov 05, 2020

Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels
"Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year," the statement said.

CNBC Economy
Nov 05, 2020

Jobless claims edge lower but are still well above pre-pandemic levels
The Labor Department reported that 751,000 U.S. workers filed for benefits, compared to 758,000 from the week before.

CNBC Economy
Nov 05, 2020

U.S. needs a 'really, really big' relief package to keep its economy afloat, says Paul Krugman
The U.S. may need several hundred billion dollars a month in "disaster relief," Nobel prize-winning economist Paul Krugman said.

CNBC Economy
Nov 04, 2020

As hopes fade for a major stimulus, here's what it means for the fragile economy
The likelihood that the Senate will stay in Republican hands likely translates into a smaller pandemic aid package.

CNBC Economy
Nov 04, 2020

Fed wants low profile but may repeat that the economy needs stimulus
Fed Chairman Jerome Powell is likely to reiterate the need for fiscal stimulus to help the economy recover.

CNBC Economy
Nov 04, 2020

Private payroll growth slows in October, well below expectations
Companies added 365,000 positions for the month, according to ADP, well below the 600,000 estimate from a Dow Jones economist survey.

CNBC Economy
Oct 30, 2020

Fed lowers minimum loan level for small business lending program
The Fed said it is reducing the minimum loan size to $100,000and will ease restrictions on the debt load for companies.

CNBC Economy
Oct 29, 2020

There was a surprise drop in September home sales as buyers were priced out
Potential homebuyers may be hitting the limit of what they can afford. Pending home sales fell 2.2% in September compared with August.

CNBC Economy
Oct 29, 2020

U.S. weekly jobless claims total 751,000, vs 778,000 expected
The number of first-time unemployment claims declined for a second straight week — to the lowest level since Covid shutdowns began in March.

CNBC Economy
Oct 29, 2020

U.S. weekly jobless claims fall to 751,000, their lowest level since March
The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, the Labor Department said.

CNBC Economy
Oct 29, 2020

U.S. GDP booms at 33.1% rate in Q3, better than expected
The growth came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones

CNBC Economy
Oct 29, 2020

Sharp third-quarter growth will show the economy regaining ground, but it's still in a hole
Third quarter GDP is expected to grow at a sharp pace, but the economy is still behind where it was and may be challenged by a lack of stimulus.

CNBC Economy
Oct 28, 2020

As Washington delays stimulus, the Fed is running out of ways to help the economy
While no Fed official would ever acknowledge that monetary policy ammunition is running low, there appear to be few weapons left in its arsenal.

CNBC Economy
Oct 28, 2020

As Washington delays stimulus, the Fed appears to be running out of ways to help the actual economy
While no Fed official ever would acknowledge that monetary policy ammunition is running low, and in fact would insist to the contrary, there appear to be few weapons left in its arsenal

CNBC Economy
Oct 27, 2020

Home prices in August see biggest gains in more than two years, S&P Case Shiller says
Strong demand and a limited supply of homes have caused home price gains to accelerate dramatically.

CNBC Economy
Oct 22, 2020

Weekly jobless claims drop to nearly their lowest level since the pandemic started in March
New filings for jobless claims in the U.S. totaled 787,000 last week, nearly the lowest total since the early days of the coronavirus pandemic.

CNBC Economy
Oct 22, 2020

Unemployment claims are down. It's not all for good reasons
About 1 million fewer workers were collecting state unemployment benefits the week of Oct. 10 relative to the week prior, the Labor Department said Thursday. Much of that reduction likely isn't attributable to people returning to work.

CNBC Economy
Oct 22, 2020

September existing home sales jump 9.4%, but 'prices are rising too fast' as supply remains tight
The inventory of homes for sale fell 19.2% annually to just 1.47 million homes for sale at the end of September.

CNBC Economy
Oct 22, 2020

Weekly jobless claims drop to the lowest level since the pandemic started in March
New filings for jobless claims in the U.S. totaled 787,000 last week, the lowest total since the early days of the coronavirus pandemic.

CNBC Economy
Oct 21, 2020

Economic recovery could slow in Q4 after 'steroid of fiscal stimulus' fades, JPMorgan Asset Management says
JPMorgan Asset Management's David Kelly told CNBC the U.S. will get a stimulus package after the November presidential elections are over.

CNBC Economy
Oct 21, 2020

A Fed official who could be Biden's Treasury secretary says Congress needs to pass stimulus to save the recovery
The central bank official cited several areas of concern, including slowing gains in the jobs market from the 21 million positions lost in the early days of the coronavirus pandemic.

CNBC Economy
Oct 21, 2020

Fed's Brainard calls for more stimulus from Congress amid 'highly uneven' recovery
The central bank official cited several areas of concern, including: slowing gains in the jobs market from the 21 million positions lost in the early days of the coronavirus pandemic.

CNBC Economy
Oct 21, 2020

Mortgage demand from homebuyers falls for the fourth straight week
Homebuyer demand is incredibly strong compared with last year, but there appears to be a slight pullback this month.

CNBC Economy
Oct 21, 2020

The GDP report next week will likely show record-breaking economic growth, but it may not help Trump
Next week, the U.S. will get economic news like it has never seen before, reflecting growth that had seemed impossible, as it is likely that GDP will have risen by more than 30%.

CNBC Economy
Oct 21, 2020

A 'blue wave' in U.S. elections could bring forward Fed rate hikes, says Morgan Stanley
The first rate hike by the Federal Reserve could be brought forward from around 2024-2025 to 2023-2024, said Jim Caron, a fixed income portfolio manager at Morgan Stanley Investment Management.

CNBC Economy
Oct 19, 2020

Homebuilder sentiment sets another record high in October
The nation's homebuilders are seeing no fall chill in demand from buyers, and that has the industry more confident than ever.

CNBC Economy
Oct 08, 2020

Years of low interest rates made the current economic crisis worse, Fed's Rosengren says
The central bank official said he expects defaults and bankruptcies to hit that will make the unemployment problem worse.

CNBC Economy
Oct 08, 2020

Jobless claims were worse than expected amid slowdown in hiring
First-time claims for state unemployment benefits were expected to total 825,000 last week, according to economists surveyed by Dow Jones.

CNBC Economy
Oct 08, 2020

Consumers' 'savings buffer' accumulated during pandemic could help aid the economy without stimulus
Morgan Stanley estimates that U.S. households have saved an extra $1.1 trillion as of August, compared to pre-pandemic levels.

CNBC Economy
Oct 07, 2020

As stimulus talks falter, the U.S. economy faces growth coming to a halt
A recovery that has lived by stimulus could die by stimulus, or the lack thereof, as the impasse among Washington leaders hits a new phase.

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