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On June 1st, the Bureau of Labor Statistics released the unemployment rate at 3.6 percent.  This is a low unemployment rate, good for employees seeking better wages, but bad for companies searching for labor. 
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The purpose of BasicEconomicsToday.com is to provide quick information and insights on the major economic issues affecting the United States.  Data from multiple sources is provided with brief explanations.  The data is selected based on its importance as an economic indicator and the significance of any recent changes.

Links to the following sources are on the Links to Economics Web Sites page on the left.

US Department of Labor - Released June 9, 2019 for the week ending June 1, next release in 1 week.

Unemployment Insurance Weekly Claims Report    218,000

This was no change from the previous week's revised figure.   

Bureau of Labor Statistics- Released June 11, 2019, next release July 12. 

Table 5. Producer price indexes and percent changes for selected commodity groupings of intermediate demand by commodity type category
Seasonally Adjusted Percent Change From April to May 

Processed goods for intermediate demand -0.2
No. 2 Diesel Fuel -5.7

Unprocessed goods for intermediate demand -5.1
Natural Gas -15.2

This data focuses on the change of pricing of intermediate goods.  Intermediate goods are used in the production of the final product which goes on the shelf for sale to the customer.  Following intermediate good prices gives insight on the problems of production in different industries.  It also gives insight on future price changes of final goods, because companies will raise their price when their production costs increase.  

Bureau of Economic Analysis (BEA)    - May 30, 2019 revised date.  Next release date is June 27, 2019
2019 Q1 (Percent Change from Preceding Period in Real Gross Domestic Product) Seasonally adjusted at annual rates

Gross Domestic Product (GDP)                  3.1                        
Personal Consumption Expenditures         1.3                     
Gross Private Domestic Investment           4.3
    Nonresidential                              2.3
    Structures                                  1.7
    Equipment                                 -1.0
    Intellectual Property Products             7.2

Residential (production of)                        -3.5
Exports                                            4.8
Goods (exported)                                 6.3
Services (imported)                                0.3
Federal                                              -0.1
National Defense                                    4.0
State and Local                                      4.0 

2018 Q1 Seasonally adjusted at annual rates
GDP                    $21,048.8 billion

The Q1 Data.
Of all the indicators above, Gross Private Domestic Investment (GPDI), investment in resources by companies, will have the largest impact on the future of the US economy. Growth in GPDI is good, especially in intellectual property products

Treasury Direct - June 10, 2019, will be updated on this site once per month

Total Public Debt Outstanding $22,025,597,084,037.73
trillion


Debt Clock and Other Useful Data
http://www.usdebtclock.org/index.html
    
    The debt has reached the limit approved by Congress.  See attached article "The Debt Argument."

US Dept. of Labor, Bureau of Labor Statistics - Released June 1, 2019, the next release date is July 5, 2019   

Unemployment Rate 3.6%   

    This is down .1% in May.     

US Census Bureau, Economic Indicators - 2019
    
Manufacturing and Trade Inventories and Sales    +0.0% for March, released May 15, next release June 14

Trade Deficit                    -$1.1 billion from March to April, released June 6, next release July 3 

New Residential Sales             -6.9% in April, released May 23, next release June 25

New Residential Construction    +5.7 in April, released May 16, next release June 18
 
US Dept. of Labor, Bureau of Labor Statistics - Released June 12, 2019, next release July 11, 2019.
    
Data for May 2019
Percent change in price level unadjusted for last 12 months
Core Inflation Rate (without food and energy) 2.0%
Inflation Rate (all items) 1.8%
Energy commodities -0.3%
Gasoline (all types) -0.2%
Fuel Oil -0.8%
Utility (piped) gas service -2.6

PCE excluding food and energy (Q1 2019 BEA NIPA Table 2.3.7) 1.0%

    The inflation rates (deflation) in the energy sector is good for American companies and consumers.  Purchasing solar energy would be awesome!  The core inflation rate is around 2 percent, which is where the Fed wants it to be to avoid reducing real income.  Consumers are basically able to buy the same basket of goods when their real income remains the same.  

The Conference Board - June,  2018

Consumer Confidence Index    -    Decreased in May 4.9 points 
http://www.conference-board.org/data/consumerdata.cfm

    Consumer confidence continues to be up.
 
The Federal Reserve - June 2019

Fed Funds Rate               2.50 

Target Rate/Range            2.25-2.50

The Fed appears to be cautious for any changes at this time.  The Fed is mandated to stabilize inflation around 2%.  The Fed Funds Rate is the rate at which banks lend to each other overnight.  Increases or decreases in the Fed Funds Rate can be symbolic of the Open Market Operations the Fed is conducting.  Open Market Operations, that is buying and selling Treasury Bonds, have a real effect on interest rates and the money supply.

S&P Dow Jones Indices - As of March, 2019

S&P CoreLogic Case-Shiller US National Home Price     +0.65%
NSA Index, Monthly Change

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Copyright © 2019 by Clint Kennedy

Solar Energy Good!!!
Fossil Fuels Bad!!!!
Global Warming, The Basic Economic View

Amazing Fact: Of 185 Countries, the US ranks 178 in Investment! (CIA World FactBook, 2010).  That's investment in plant, equipment, and other productive resources.  We need to invest in our future!

Basic Economics Today LLC is available for consult.  Go to the Consult Basic Economics Today page on the left!

Quote from Nobel Prize Winner Joseph E. Stiglitz about the TARP bailout-

"The Bush and Obama administrations had made a mistake-inexcusable given what had occurred in the years prior to the crisis-that banks' pursuit of their own self-interest was necessarily coincident with what was in the national interest" (Stiglitz, 2010). 

The public is outraged by tax payer dollars paid to the bankers that largely caused a recession with reckless lending decisions.

Stiglitz, J.E. (2010). FreeFall (p.111). New York, NY: W. W. Norton & Company, Inc.