Statement of Facts

Statement of Facts of the Economy

Major Economic Indictors*

Statement of loss

Area for increase


Consumer Price Index

 “In June, the Consumer Price Index for All Urban Consumers rose 0.6 percent on a seasonally adjusted basis; rising 0.6 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy rose 0.2 percent in June (SA); up 1.2 percent over the year (NSA).” Chart


Employment Cost Index


Compensation costs rose 0.5 percent for civilian workers, seasonally adjusted, from March 2020 to June 2020. Over the year, compensation rose 2.7 percent, with wages and salaries rising 2.9 percent and benefit costs increasing 2.2 percent.” Chart

Employment Situation

Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent. These improvements in the labor market reflected the continued resumption of economic activity curtailed due to the coronavirus (COVID-19) pandemic.” Chart

Producer Price Index

“The Producer Price Index for final demand fell 0.2 percent in June, as prices for final demand services declined 0.3 percent and the index for final demand goods rose 0.2 percent. The final demand index decreased 0.8 percent for the 12 months ended in June.” Chart

Productivity and Cost

“Productivity decreased 0.9 percent in the nonfarm business sector in the first quarter of 2020; unit labor costs increased 5.1 percent (seasonally adjusted annual rates). In manufacturing, productivity increased 0.3 percent and unit labor costs increased 6.9 percent.” Chart

Real Earnings

“Real average hourly earnings decreased 1.7 percent over the month in June, seasonally adjusted. Average hourly earnings decreased 1.2 percent and CPI-U increased 0.6 percent. Real average weekly earnings decreased 2.3 percent over the month.” Chart

U.S. Import and Export Price Indexes

“U.S. import prices rose 1.4 percent in June, after advancing 0.8 percent in May. Prices for U.S. exports increased 1.4 percent in June following a 0.4-percent rise the previous month. Over the past 12 months, import and export prices fell 3.8 percent and 4.4 percent, respectively.” Chart