◀ The Principal Blog

Better than expected – April jobs report



This morning, the Department of Labor reported that the U.S. economy added 211,000 jobs in April, well ahead of expectations. The unemployment rate reached 4.4%, which was the low of the last business cycle. Sector gains were broad-based; the big job gainers were leisure and hospitality, and retail…

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What if an apple were an orange: quality adjustments in the consumer price index



The core Consumer Price Index (CPI), which excludes food and energy prices, unexpectedly dropped 0.1% month-over-month in March. Price declines were broad-based from apparel to new and used cars. But one category stood out as a significant outlier; there was a 7% drop in the cost of wireless…

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