This series will dive into our monthly State of the Economy report, providing a snapshot of the top monthly economic and credit data for those in financial services to proactively shape their business strategies.
While much of the economic data released this month remained steady, including continued downward progress in inflation and resilience in inflation-adjusted spending, June was a pivotal month for the labor market. With downward revisions to job creation over the past few months to an up-tick in unemployment, the potential for a sooner-than-expected rate cut increased.
Data highlights from this month’s report include:
- While above economists’ expectations in June, job creation was 111,000 jobs shy of what was recorded in April and May, signaling some slowdown in the labor market.
- Inflation-adjusted spending and incomes increased in May, by 0.3% and 0.5%, respectively.
- Inflation eased more than economists expected, with annual headline inflation cooling from 3.3% to 3.0%.
Check out our report for a deep dive into the rest of this month’s data, including the latest trends in job openings, new business survival rates, and bankcard delinquency rates.
To have a holistic view of our current environment, it’s important to view the economy from different angles and through different lenses. Watch our experts discuss the latest economic and credit trends in the next macroeconomic forecasting webinar and listen to our latest Econ to Action podcast.
For more economic trends and market insights, visit Experian Edge.
