CHART OF THE WEEK

 

 

In 2007, the Bureau of Labor Statistics (BLS) projected 83.6 percent of people between the ages of 25 and 54 would be in today’s workforce.  In reality it’s only 81.5 percent, which amounts to a gap of 2.6 million working-age people.  JEC Chairman Pat Tiberi wrote an op-ed earlier this month arguing it’s possible to make America grow again as so many potential jobholders have been left on the sidelines by growth-destroying policies.

 

LAST WEEK

News & Commentary Weekly Highlights

• Wall Street Journal: Federal Reserve Eyes Aggressive Rate Increases
• Investor’s Business Daily: Jobless Claim Mark Lower Than Expected As Market Stays Vibrant
• Bloomberg: Mnuchin Says He Won’t Label China a Currency Manipulator...Yet
• RealClear Markets: Business as Usual at the CFPB Is Not Good for Consumers

 

Top Economic Indicator Highlights

• New Residential Housing Sales (December 2016)
  • New single-family houses (seasonally adjusted annual rates)
    • December: 536,000          November: 598,000          October: 571,000
• Median price of new single-family houses (not seasonally adjusted)
  • December: $322,500       November: $309,200       October: $301,800
• Noteworthy: The median sales price of single-family homes rose $23,500 from December 2015.  In November, the year-over-year change registered a $7,800 decline.

 

THIS WEEK

Upcoming Economic Data and Events

• Monday
  • Revised Building Permits (8:00am)
  • Pending Home Sales (10:00am)
• Tuesday
  • Gross Domestic Product (Second Estimate) (8:30am)
  • Chicago Purchasing Managers Index (9:45am)
  • Dallas Fed Texas Retail Outlook Survey (10:30am)
• Wednesday
  • Personal Income/PCE Deflator (8:30am)
  • Federal Reserve Board of Governors Beige Book (2:00pm)
• Thursday
  • No Releases
• Friday
  • No Releases