57K Jobs Added in June as Unemployment Rate Ticks Down
In June, 57,000 jobs were added (49K private sector, 8K government), well off expectations. However, at the same time, the unemployment rate decreased by 0.1 percentage points to 4.2 percent while the labor force participation rate decreased by 0.3 percentage points to 61.5 percent. The broadest mea...
Headline Personal Income Up in May, Core PCE Highest Since October 2023 at 3.41 Percent
From April to May, headline personal consumption expenditures (PCE) price index inflation was 0.45 percent, slightly above the 0.40 percent from March to April. Core PCE price index inflation, which excludes food and energy prices, was 0.32 percent up from 0.24 percent from March to April. In the sa...
ICYMI: JEC Holds Hearing on Protecting Patients and Taxpayers by Combating Healthcare Fraud
On Wednesday, June 24, the Joint Economic Committee held a hearing entitled Protecting Patients and Taxpayers: Combating Healthcare Fraud and Leakage to Strengthen Program Integrity. Led by Committee Chairman Rep. David Schweikert (R-AZ) and Ranking Member Senator Maggie Hassan (D-NH), the hearing ...
May State Unemployment Remained Unchanged in 22 States, Decreased in 20, and Increased in 9
In May, unemployment remained unchanged in 22 states, decreased in 20, and increased in nine. The highest unemployment rate was 6.1 percent in the District of Columbia, and the lowest was 2.1 percent in South Dakota. Nationally, the unemployment rate remained unchanged in May. Compared to the nation...
JEC Issues Brief finding Insurance Broker Costs Rising Rapidly, especially in Medicare Advantage Plans
The Joint Economic Committee released a brief entitled Right Plans or Wrong Incentives? How Broker Payments May Raise Federal Spending which outlines the rise in spending by the federal government on insurance brokers. While brokers serve a useful role in theory, the brief finds that current incenti...
JEC Chairman Schweikert to Hold Hearing on Healthcare Fraud and Leakage
Joint Economic Committee Chairman David Schweikert will hold a hearing entitled “Protecting Patients and Taxpayers: Combating Healthcare Fraud and Leakage to Strengthen Program Integrity” to address both explicit fraud such as home health fraud as well as “leakage” in which healthcare programs are n...
Consumer Price Index Inflation Rose 4.25 Percent Over the Year in May
Headline Consumer Price Index (CPI-U) rose 0.47 percent in May and 4.25 percent over the past year. Core CPI, which excludes food and energy, rose 0.21 percent in May and 2.85 percent over the past year. Energy price inflation rose 3.88 percent in May and was up 23.54 percent over the past year. Foo...
May Closes with $293 Billion Deficit, Up to $1.246 Trillion Deficit for FY2026
In May, the federal government ran a deficit of $292.648 billion. From the beginning of this fiscal year to May 2026, deficits were $1.246 trillion. This means 25.42 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spent ...
May Closes with $293 Billion Deficit, Up to $1.246 Trillion Deficit for FY2026
WASHINGTON, DC – Today, the Joint Economic Committee released its Monthly Fiscal Update. In May, the federal government ran a surplus of $292.65 billion. From the beginning of this fiscal year to May 2026, deficits were $1.246 trillion. This means 25.42 percent of outlays in FY2026 were not paid for...
Consumer Price Index Inflation Rose 4.25 Percent Over the Year in May
In May, headline Consumer Price Index (CPI-U) rose 0.47 percent in May and 4.25 percent over the past year. Core CPI, which excludes food and energy, rose 0.21 percent in May and 2.85 percent over the past year.