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Inflation pressures build in Aug.
The Economic Cycle Research Institute's Future Inflation Gauge hit a 5-year high on higher interest rates and input prices, heavier loan activity and stronger job growth. The index hit 121.1 from an upwardly revised 119.7 in July.
** The ECRI's U.S. leading index edged down for a 3rd straight week, to 135.2 in the week ended Aug. 26. But the 4-week annualized growth rate held at 3.1%, the highest since April 1.
Small biz jobs improving slowly
Researcher SurePayroll's Aug. small-business hiring index rose 0.2% from July. Small-business hiring is up 0.6% year to date. But salaries at small businesses dropped in the month by 0.5%. Salaries are down 3.4% on an annualized basis.
Layoff plans down sharply in Aug.
Announced plans for job cuts fell to their lowest level since April: 70,571 vs. 102,971 in July. Companies planned to hire 27,581 workers, slightly above July's 27,180. Challenger, Gray & Christmas said reconstruction after Hurricane ...