Continuing applications for U.S. unemployment benefits rose to the highest level in almost two years this month, underscoring the difficulty unemployed workers are facing in finding new jobs.1 Recurring jobless claims represent the number of people continuously receiving unemployment benefits. The number of recurring applications jumped to 1.87 million in the…
In the latest Consumer Price Index (CPI) data released by the Bureau of Labor Statistics, energy prices fell drastically, durable goods prices dropped, and food prices rose moderately, but the key area to watch remains in services. The CPI for Rent inflation, or the actual rents that tenants pay, accelerated…
Forecasting a recession for a bank is key in determining the loan loss provision (predicting loan loss over the life of the loan) under CELA. As an example, JP Morgan Chase & Co, the biggest bank in the US, is setting aside more than $1 billion in preparation for potential…
Brokered CDs Reaching Modest New Highs in 2024 and 2025 IDC Financial Publishing (IDCFP) has attempted over time to estimate brokered CDs for individual banks. The unknown in the equation has historically been the level of sweep accounts in brokered deposits. As of September 30, 2021, bank reports, sweep accounts for individual…
Credit unions have grown to become a major factor in the U.S. economy, with assets that have grown at nearly twice the pace of banks over the past decade. Credit unions are owned by their members and are designed to offer lower borrowing costs and higher deposit rates. In addition,…
