FEATURED POST
November 25, 2024
The inflation Grinch
This week marks the official kickoff of the holiday season. In any given year, about 20 percent of annual retail sales are wrapped up in the weeks between Thanksgiving and New Years Day. The National Retail Federation expects 2024 to deliver the strongest holiday shopping season on record. Consumers are projected to increase their spending by more than $25 per person to a total of $902, $16 higher than the previous record set in 2019.
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June 28, 2021
MainStreet Macro: Introducing ADP’s Quarterly Small Business @ Work Survey
Main Street firms were forced to reduce headcount quickly during the pandemic. But thanks to a potent formula of government stimulus and sheer grit, small firms led the recovery from the worst of the downturn. A new quarterly survey from the ADP Research Institute might help. The Small Business @ Work Survey, which I’m pleased to introduce here, will take the ongoing pulse of their economy. Here are key findings from our inaugural report.
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June 21, 2021
MainStreet Macro: The Fed’s Role: Thermometer or thermostat?
It came as a surprise to no one, anywhere, that the Fed left interest rates at near zero when the Board of Governors met for its regularly scheduled policy meeting last week.
The twist in the announcement, though, was a hint that the Fed might raise short-term rates and lower monthly bond purchases sooner than it had suggested. Today we discuss what hats the Fed needs to wear to help Wall Street, Main Street and the overall economy.
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June 14, 2021
MainStreet Macro: Should MainStreet Care about Student Debt?
This month, students around the country will graduate from college, vocational schools, and high school after a year of learning like no other. Well it’s almost like no other. One constant of higher education before and after the pandemic has been its high price tag. U.S. students owe a whopping $1.7 trillion in combined debt. Outstanding student loans have skyrocketed 90% over the past decade. Should Main Street care about student debt?
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June 7, 2021
MainStreet Macro: Where are the workers?
by Nela Richardson, Ph.D.
Last week, the May jobs report captured the attention of economists, policymakers, Wall Street and Main Street. We know where the jobs are. This week, we answer the other question that has plagued us this year – where are all the workers?
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June 1, 2021
MainStreet Macro: The Economy Needs a Vacation–Yours
Memorial Day weekend – the unofficial kickoff to summer. If you’re like me, yours looks like a combination of work and play.
But this year, many Americans have had to postpone their usual summer planning. And many others are preparing to make do with less as states begin to revoke a federal unemployment benefit. On this weeks blog, we look at three ways of looking at this summer's labor outlook.
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May 24, 2021
MainStreet Macro: The Retail Remix
Last week we explained how to understand the economy in five easy steps. This week we focus on the most important indicator to watch – consumer spending. The great reopening has many of us dusting off our credit cards to shop (I’ll be honest, I never stopped). Yet the retail landscape is being transformed. Trends in place before COVID-19 accelerated during the pandemic and are remixing retail into the future.
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May 17, 2021
MainStreet Macro: How are we doing? Unpacking the economy in five easy steps
Fourteen months after the pandemic’s initial assault, Main Streeters want to know how we’re doing.
The answer isn’t simple. There’s a deluge of data, but depending on where you look, you could find different answers.
So how are we doing – really? Here are five things to watch to get a sense of the economy’s overall well-being, ranked from important to very important.
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May 10, 2021
MainStreet Macro: Job Switching
Typically, when the economic growth starts to accelerate like it is now, workers dust off their resumes and look for better options. The economy grew a vigorous 6.4% annualized in the first three months of the year, and is poised to grow by double digits in the current quarter. Yet recent data shows that even as the economy has improved, employees are reluctant to seek out new opportunities. In this week’s blog, we discuss the analysis conducted on 18 million workers to measure the financial returns to job switching.
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