Economy

By Phil Bensinger The Federal Reserve continues to try to tame inflation with interest rate hikes. This appears to be the only tool they are willing to try so far. One result from this somewhat myopic approach is that the new home sales market has been decimated. It’s on a …

A little more than 166 million people say they will shop from Thanksgiving Day through Cyber Monday this year, according to the National Retail Federation. If that forecast is accurate it will top last year’s Thanksgiving weekend by about eight million shoppers, the Washington, D.C. trade association reported. That’s the …

The Inland Empire recorded an unadjusted 3.9 percent unemployment rate in October, unchanged from September and well below the 6.1 percent predicted one year ago, according to data released Friday. Statewide, 27,600 non-agricultural jobs were added between September and October, with trade, and transportation adding 12,200 jobs during that time, …

The National Retail Federation is predicting holiday retail sales will rise six to eight percent this year compared with 2021, with total sales expected to land between $942.6 billion and $960.4 billion. Despite persistent inflation, sales should top 4.9 percent in November and December, the average year-over-year increase in Christmas …

For the second time in three months, manufacturing in the Inland Empire has hit a bump in the road. The region’s purchasing managers index in October was 49.6, just under the 50 baseline that determines growth or reduction, according to data released this week by the Institute of Applied Research …

The Inland Empire posted a 3.9 percent unemployment rate in September, down from 4.3 percent in August and well below the 6.4 percent predicted one year earlier. That number was not adjusted to account for seasonal factors that affect the job market, according to the State Employment Development Department. In …