Reports and Issue Briefs
States' Top Exports to Other Countries in 2017
The chart shows each state’s largest export category to other countries by value in 2017. Transportation equipment was the largest export category in 14 states; computer and electronic products the largest in 12, chemicals in 8, machinery in 4, oil, gas, petroleum and coal in 3, manufactured metals/...
June 2018 Jobs Review: Job Growth Beats Expectations
Job creation continues to exceed that necessary to sustain the growth in the working-age population and to beat the expectations of forecasters. Improved, though modest by historical standards, wage growth indicates that a reserve supply of labor remains to sustainably propel U.S. economic growth. T...
The U.S. Needs to Lead on Digital Trade
Many countries’ laws and regulations have created barriers to e-commerce and digital services. These trade barriers disadvantage U.S. businesses exporting and operating in foreign countries. Although many of these laws and regulations are promoted as protections for individual rights or national sec...
Visualizing the Distribution of Social Capital across America
The Social Capital Project recently released a Social Capital Index covering every state and nearly every county in America. As we discussed in the accompanying report, states with high index values tend to be smaller than states with low values. Fully 56 percent of Americans live in the 40 percent ...
Record High Positive Outlook for Manufacturers
A record high 95.1% of manufacturing companies are reporting a positive outlook for their companies according to the National Association of Manufacturers (NAM) Outlook Survey for the second quarter of 2018. The NAM report noted “manufacturers continue to be upbeat following Washington’s passage of ...
June FOMC Review: “The Economy is in Great Shape”
Fed Chair Jay Powell noted “the economy is doing very well” and that “business investment continues to grow strongly” in his press conference. This has enabled the Fed to only gradually raise interest rates and allow the economy’s improved trajectory to continue unimpeded. This is notable as the Tax...
U.S. Exports Climb to New Record
U.S. exports set a new record of $211.2 billion in April driven largely by goods exports, according to the most recent monthly U.S. Census Bureau data. The record prior to late 2017 was $200.3 billion in August 2014. U.S. services exports tend to rise steadily but are only about a third of total exp...
Three Ways Wages and Investment Are on the Rise
A quick review of how Americans are benefiting from our new economy.
Wage Growth Highest Since Month After Recession
Average hourly earnings for rank-and-file production and nonsupervisory workers in May 2018 were 2.8% higher than a year ago, the fastest increase since July 2009. Thanks to the Tax Cuts and Jobs Act and regulatory reform, American workers’ wage growth is finally approaching the previous expansion’s...
Consumer Confidence Near Record Highs
Consumer confidence—measured as an index of households’ optimism about current and prospective business, employment, and income conditions—is at a 17-year high. During the Obama era it was the lowest for any economic expansion lasting one year or more going back to 1967. This changed following the l...
