Current Events in December 2024

Inflation continued at the grocery store in November, but at a slower pace than earlier in the year. The ConsumerAffairs Datasembly Shopping Cart Index, based on the cost of 25 commonly purchased grocery items, increased by 79 cents from October and by $1.50 from November 2023.

The index is based on price data gathered by Datasembly in real-time.

Five items led last month’s increase:

• Coffee - Increased from $12.80 to $12.98

• Eggs - Increased from $5.71 to $6.09

• Frosted donuts - Increased from $5.31 to $5.52

• Bread - Increased from $3.29 to $3.49

• Toilet paper - Increased from $7.06 to $7.59

Some prices fell

These four items declined the most in price:

• Honey nut cereal - Decreased from $5.58 to $5.33

• Cheese slices - Decreased from $5.46 to $5.37

• Cookies - Decreased from $6.85 to $6.16

• Peanut butter - Decreased from $3.27 to $3.19

Several items showed little to no change in year-over-year or month-over-price, including paper towels, white rice and laundry detergent.

The November Shopping Cart Index

It was a little easier to find a job in November, another sign that the economy is gaining strength. The Bureau of Labor Statistics reports the economy added 227,000 jobs last month as the unemployment rate ticked up to 4.2%.

People looking for jobs in health care and leisure and hospitality were most likely to get hired. Despite heading into the holiday shopping season, it was harder to get a job in the retail sector.

The healthcare sector added 54,000 jobs in November, in line with the average monthly gain of 59,000 over the prior 12 months. Most of those new jobs were filled in the ambulatory healthcare sector, which grew by 22,000 jobs. Hospitals increased hiring by 19,000 and nursing and residential care facilities added 12,000 jobs

Employment in leisure and hospitality trended up in November by 53,000 jobs, following little change in the prior month. The bulk of those jobs occurred at bars. Leisure and hospitality had added an average of 21,000 jobs per month over the prior 12 months.

Government jobs were also plentiful last month. In November, government employment rose by 33,000 jobs, in line with the average monthly gain over the prior 12 months. Employment increased by 32,000 in transportation equipment manufacturing in November, reflecting the return of workers who were on strike.

Harder to get a job in retail

Retailers normally staff up in November, in anticipation of holiday shopping, but that didn’t happen last month. The retail sector lost 28,000 jobs in November, after showing little net employment change over the prior 12 months. In November, employment declined in general merchandise retailers by 15,000 while electronics and appliance retailers added 4,000 jobs.

Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; wholesale trade; transportation and warehousing; information; financial activities and professional and business services. 

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents, or 0.4 percent, to $35.61. Over the past 12 months, average hourly earnings have increased by 4% percent.