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April 22, 2025

In full swing:  What baseball and housing have in common

Baseball and the housing market have a couple of things in common. Both reach peak activity in the spring and both are tracked using a plethora of statistics. The granular details of RBIs, home runs, and at-bats are known to every diehard baseball fan. Housing’s copious data—sales both new and existing, starts, permits, and mortgage rates—make it the statistical envy of other sectors. And just as a baseball team’s stats can foreshadow its win/loss record, housing stats tend to be a leading indicator of a market’s overall economic performance.
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July 31, 2023

MainStreet Macro: Holiday Roads

by Nela Richardson, Ph.D.

When economists discuss the economy, they often focus on the national numbers. But state-level data are just as important to understanding the drivers of growth. As we turn the corner into August and peak vacation season, let’s take a data-driven road trip with three main stops – economic growth, unemployment, and wages.
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July 24, 2023

MainStreet Macro: Hold ‘em, fold ‘em, or walk away?

by Nela Richardson, Ph.D.

Some songs capture the ethos of the moment. As Federal Reserve policymakers ponder how to play their hand on interest rates this week, Kenny Rogers has some advice: You gotta know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run. With Kenny’s wisdom in mind, here’s a look at the Fed’s cards and what policymakers might be thinking.
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July 17, 2023

MainStreet Macro: Inflation’s construction zone

by Nela Richardson, Ph.D.

Last week delivered some good news: Inflation was up 3 percent from last year, the slowest 12-month increase since March 2021. Inflation was even lower in many areas of consumer spending, but one part of our economy that is continuing to see prices soar is shelter.
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July 10, 2023

MainStreet Macro: At your service

by Nela Richardson, Ph.D.

Data on the overall health of the economy delivered good news in June to round out the first half of the year. The economy created 209,000 jobs last month, according to the Bureau of Labor Statistics, and the ADP National Employment Report found that private employers added 497,000 new workers.
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June 26, 2023

MainStreet Macro: Add this must-have summer data to your economic toolbox

by Nela Richardson, Ph.D.

Summer is here, and with it, the return of peak homebuying season, a time when families rush to find their dream house before school starts in the fall. Even if you’re not a homeowner and have no interest in buying, this pickup in activity can have consequences for you. Homebuying season comes with an abundance of important data on the housing market, which in turn can tell us a lot about consumers and the economy.
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June 12, 2023

MainStreet Macro: To pause or not to pause? Maybe that’s not the question

by Nela Richardson, Ph.D.

The Federal Reserve has raised interest rates 10 consecutive times, taking the benchmark federal funds rate from near zero up to more than 5 percent. This week, Fed policymakers meet again to decide whether to move rates again – or not. Economists are divided as to whether the central bank should pause their rate hikes this month or keep them coming.
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June 5, 2023

MainStreet Macro: Gen Z joins the workforce

by Nela Richardson, Ph.D.

It’s graduation season. Some young adults will head to college, and some college graduates will continue with their studies. But most members of this year’s graduating class will become new entrants into a dynamic and evolving post-pandemic labor market.
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May 22, 2023

MainStreet Macro: Answering questions, and raising new ones, about the complex world of work

by Nela Richardson, Ph.D.

This week, ADP Research Institute launches Data Lab, a centralized and in-depth repository of research and information on the economy and labor market.
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