In July 2023, there were a total of 5,841,000 unemployed people and 8,827,000 job openings in the United States, yielding a ratio of 0.7 unemployed person per job opening. The national job openings rate was 5.3 percent. Among the states, Maryland, New Hampshire, North Dakota, and Vermont each had 0.3 unemployed person per job opening. Job opening rates in these four states ranged from 5.5 percent in Vermont to 6.6 percent in New Hampshire.read full article »
Prices for U.S. exports advanced 1.3 percent in August 2023, after increasing 0.5 percent the previous month. Despite the advance in August, U.S. export prices declined 5.5 percent over the past year.
The price index for U.S. imports advanced 0.5 percent in August 2023, the largest monthly increase since May 2022. Despite the August increase, U.S. import prices fell 3.0 percent over the past year.
Many families may have recently purchased new books, laptops, shoes, sports goods, and musical instruments for their kids in preparation for the new school year. Prices for educational books and supplies (which consist of elementary, high school, and college textbooks and reference books) decreased 3.4 percent from August 2022 to August 2023 and were 1.4 percent higher in August 2023 than they were in August 2020.
Real average hourly earnings for all private, nonfarm employees increased 0.5 percent from August 2022 to August 2023. The change in real average hourly earnings combined with a decrease of 0.3 percent in the average workweek resulted in a 0.3-percent increase in real average weekly earnings over this period.