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Salaries increased 2.9% in 2021

The Bureau of Labor Statistics published last week new reports for wages nationwide and in Puerto Rico. Average hourly wages for 2021 were $10.93hr, an increase of 2.9% compared to...
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Inflation in Puerto Rico hits 5.1% in March 2022

In Puerto Rico, the Consumer Price Index (CPI) stood at 124.581 in March 2022, an increase of 5.1% compared to March 2021. This is the largest year over year increase...
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The US economy shrank -1.4% in Q1 2022

The US economy shrank at a 1.4% annual rate last quarter despite solid spending by consumers and businesses. This is the first contraction since the early days of the pandemic....
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The Federal Reserve approves the biggest increase in interest rates in 22 years

With the objective to contain inflation, the United States Federal Reserve raised interest rates by 0.5 points, leaving them between 0.75% and 1%. It is the second increase this year,...
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China’s lockdown continues at the expense of the US

Nothing has emphasized more the fragility of the global economy more than the pandemic. And while inflation has been the top subject in many of the reporting, we need to...
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General Fund Net Revenue in February 20% higher than projected

Puerto Rico’s General Fund net revenue was reported as a total of $906 million for the month of February 2022. Compared to February 2021, this was a $191 million increase,...
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Upward Trend in Cement Sales in 2022

Cement production reached a total of 765 thousand 94lb sacks for the month of March 2022, while sales totaled 1,472 thousand 94lb sacks. Compared to the previous month of February,...
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Puerto Rico Housing Market Off to Slow Start in 2022

There were 883 total housing units sold in Puerto Rico during the month of February 2022. Compared to February 2021, sales were down by 263 units, or 22.9%. Compared to...
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Employment in Puerto Rico Up 5.5% in March

Non-farm payroll in Puerto Rico for the month of March 2022 reached a total of 908,200 workers. Compared to the previous month of February, this total went up by 2,000,...
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Inflación en los Estados Unidos alcanza pico de 40 años

Según los últimos datos publicados por la Oficina de Estadísticas Laborales de Estados Unidos, la inflación en marzo alcanzó el 8.5%. Esto significa que, en promedio, los bienes y servicios...
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U.S. Inflation reaches highest point in over 40 years

According to the latest data released by the U.S. Bureau of Labor Statistics, inflation in March reached 8.5%.  This means that on average goods and services were 8.5% more expensive...
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Economic Activity Index Down Slightly in February

The economic activity index is an economic model calculated monthly by the Economic Development Bank of Puerto Rico. It uses four important macroeconomic indicators to create a model that closely...
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