A lack of prime-age workers, the exit of baby boomers during the pandemic and the willingness by many to simply walk away from a job are indicative of a structural change in the economy. … READ MORE >
Coronavirus
RSM UK Financial Conditions Index: Holding steady
Financial conditions in the UK remain accommodative, signaling confidence that the policies of the monetary and fiscal authorities have created the framework for a sustained economic recovery. … READ MORE >
U.S. jobs report preview: Expect a gain of 475,000 in October
When the October U.S. employment report is released on Friday, a central area of focus will be on the potential return of women in their prime working years to the labor force. … READ MORE >
Chart of the day: U.S. manufacturing remained strong in October
The Purchasing Managers’ Index inched down to 60.8 in October from 61.1 in September, but still posted the 17th straight month of expansion since April 2020. … READ MORE >
RSM US Manufacturing Outlook Index: Expansion hits headwinds
The RSM US Manufacturing Outlook Index was more than 1.2 standard deviations above normal in October, suggesting an expansionary production sector; only 18% of the months since 1968 have had higher results. … READ MORE >
Workers chart a different course as new business formations surge
New business formations surged during the pandemic and are reshaping the labor market in a way that bodes well for economic growth. … READ MORE >
Chart of the day: Wages grew fastest in 20 years
The tight labor market sent worker compensation growth in the third quarter to the highest level in 20 years, posting a 1.3% gain. … READ MORE >
Personal spending grew in September despite mitigating factors
Personal spending grew in September for the second straight month as the extra income from the enhanced Child Tax Credit program continued to offset the impact from the delta variant on consumption demand. … READ MORE >
FOMC preview: Tapering explained
Next week’s meeting of the Federal Open Market Committee will focus on the Federal Reserve’s exit from its pandemic-era asset purchase program that has sent its balance sheet above $8.5 trillion. … READ MORE >
Chart of the day: Pending home sales dipped in September
The pending home sales index fell 2.3% to 116.7 in September after a strong gain of 8% in August, a sign of a modest pullback in home buying as some purchases are delayed until next year. … READ MORE >