BLS Business Employment Dynamics Summary by the BLS Please consider the Business Employment Dynamics Summary for the second quarter of 2022. Key Points From March 2022 to June 2022, gross job gains from opening and expanding private-sector establishments were 8.3 million, a decrease of 185,000 jobs from the previous quarter. Private-sector establishments were 8.5 million, … Read more
M1 and M2 numbers are from the Fed, ODL is a derivative of M2, described below. Data for the above chart is from the Fed’s H.6 Money Stock Reportreleased January 24. Monetary Definitions M1 consists of (1) currency outside the US Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at … Read more
Text size Conditions in the US were already enough to justify a pause in the US Federal Reserve’s rate-increase, Desmond Lachman writes. Kevin Dietsch/Getty Images About the author: Desmond Lachman is a senior fellow at the American Enterprise Institute. He was a deputy director in the International Monetary Fund’s Policy Development and Review Department and … Read more
This building on Monte Villa Parkway in Bothell will house IonQ’s growing research and development and manufacturing teams, and it will be the primary production engineering location for IonQ in North America. It will also contain the company’s second quantum data center. Courtesy of IonQ A Maryland company announced today that it will open a … Read more
GDPNow data from the Atlanta Fed, Chart by Mish. Chart Notes The blue line is the base forecast. It is about all the public sees or hears about when the BEA releases its GDP reports, but it isn’t what matters most. The red line is Real Final Sales (RFS). That is the bottom line estimate … Read more
Many economic models predict a housing crisis at some point in 2023 or 2024. Jim Watson/AFP via Getty Images Text size About the authors: Christos A. Makridis is a research affiliate at Columbia Business School and Stanford University, and the founder/CEO of Dynamica financial technology startup. Mark Calabria is the former director of the Federal … Read more
Text size The Marriner S. Eccles Federal Reserve Board Building in Washington, DC. Kevin Dietsch/Getty Images About the author: Christopher Smart is chief global strategist and head of the Barings Investment Institute, and is a former senior economic policy official at the US Treasury and the White House. The US Federal Reserve could not be … Read more
Did Dr. Pangloss earned his Ph.D. in economics? It would seem so. In Voltaire’s Candide, Dr. Pangloss declared it to be the best of all possible worlds, despite the evidence around him. And, to be sure, things are getting better, the markets and the media increasingly agree, at least in terms of abating inflation. But … Read more
Clearer signs of softening in Bakersfield’s rental housing market have raised doubts about how much private developers will continue to invest in building new apartments. A 2022 annual report released last week by ASU Commercial detailed how interest rate hikes last year preceded cooling across a range of local measures, from vacancy rates and rent … Read more
RALEIGH — I have two favorite quotes from Ronald Reagan about the world of work. The first one illustrates his mastery of an indispensable political tool: self-deprecating humor. “It’s true hard work never killed anybody,” he quipped, “but I figure, why take the chance?” My other favorite Reagan quote makes a serious point: “I believe … Read more