June State Unemployment Fell in 30 States, Remained Unchanged in 14, and Increased in 7
The Joint Economic Committee released its monthly State Employment Update, outlining the employment situation in all 50 states and the District of Columbia. In June, among the 50 states and the District of Columbia unemployment fell in 30, rose in 7, and remained unchanged in 14. The highest unemplo...
Consumer Price Index fell 0.42 percent in June, Biggest Monthly Decline in Six Years
Today, the Joint Economic Committee released its Monthly Inflation Update for June, showing that consumer prices continued to rise, but at a slower rate than anticipated. Headline Consumer Price Index (CPI-U) dropped by 0.42 percent in June and rose to 3.53 percent over the past year. Core CPI, whic...
June Closes with $120 Billion Deficit, Up to $1.367 Trillion Deficit for FY2026
In June, the federal government ran a deficit of $120.305 billion. From the beginning of this fiscal year to June 2026, deficits were $1.367 trillion. This means 24.76 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spen...
National Debt Reaches $39.38 Trillion, Increased $3.16 Trillion Year over Year Increasing at an average rate of $100,207 per Second
As of July 3, 2026, total gross national debt is $39.38 trillion. Relative to one year ago, total gross national debt is $3.16 trillion higher; relative to five years ago, it is $10.85 trillion higher. Over the past year, the rate of increase averaged $8.66 billion per day, $360.74 million per hour,...
Trade Gap Ends May 28 Percent Above 12-Month Average, Largest Gap Since March 2025
The total trade deficit in May was $77.58 billion, up $23.02 billion from April and 28 percent above the 12-month average. This is the largest trade gap since March of 2025 as exports fell and imports rose.
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...