Economic News Releases
MAJOR ECONOMIC INDICATORS
In July, the Consumer Price Index for All Urban Consumers was unchanged, seasonally adjusted, and
rose 8.5 percent over the last 12 months, not seasonally adjusted. The index for all items less
food and energy increased 0.3 percent in July (SA); up 5.9 percent over the year (NSA).
Compensation costs increased 1.3 percent for civilian workers, seasonally adjusted, from March 2022 to June 2022. Over the year, total compensation rose 5.1 percent, wages and salaries rose 5.3 percent, and benefit costs rose 4.8 percent.
Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate
edged down to 3.5 percent. Both total nonfarm employment and the unemployment rate
have returned to their February 2020 pre-pandemic levels.
The Producer Price Index for final demand fell 0.5 percent in July. Prices for final demand goods
declined 1.8 percent, and the index for final demand services advanced 0.1 percent. Final
demand prices moved up 9.8 percent for the 12 months ended in July.
Productivity decreased 4.6 percent in the nonfarm business sector in the second quarter of 2022;
unit labor costs increased 10.8 percent (seasonally adjusted annual rates). In manufacturing,
productivity increased 5.5 percent and unit labor costs decreased 0.5 percent.
Real average hourly earnings for all employees increased 0.5 percent in July, seasonally adjusted. Average hourly earnings increased 0.5 percent, and CPI-U was unchanged. Real average weekly earnings increased 0.5 percent.
Prices for U.S. imports decreased 1.4 percent in July, after increasing 0.3 percent in June.
Export prices fell 3.3 percent in July following a 0.7-percent rise the previous month.
Over the past year, import prices increased 8.8 percent and export prices rose 13.1
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Last Modified Date: August 11, 2022