Weekly Economic Update: February 5 - February 9, 2018
With the election of a Republican majority in Congress and the Trump presidency, a striking change in the U.S. economy’s trajectory occurred. The election outcome gave rise to relief from the Obama Administration’s growth-constraining policies. Improved expectations raised forward-looking indicators...
January FOMC Review
The Fed left its interest on excess reserves (IOER) rate, its key monetary policy rate, unchanged at 1.50%. Inflation continues to undershoot the Fed’s 2% target. This was Chair Yellen’s final FOMC meeting; there will be 4 vacancies on the Fed’s Board going forward.
Further Thoughts on Volunteerism Trends and Data Issues
In an analysis last year, Volunteerism in America, the Social Capital Project found that rates of volunteerism have either held steady or risen over the past forty years—a rare indicator of the health of our associational life that has not worsened over the period. Our initial report, What We ...
Weekly Economic Update: January 29 - February 2, 2018
The last three quarters’ growth rates significantly exceed the average growth rate of 2.2 percent since the recession ended and are better than the longer-run growth projections of 1.8% to 1.9% published in the Federal Reserve’s December 2017 Summary of Economic Projections and the Congressional Bud...
GDP Review (Fourth Quarter 2017)
Real GDP grew at an annualized rate of 2.6% in the fourth quarter of 2017. Full-year real GDP growth was 2.3% compared to 1.5% in 2016. Business nonresidential fixed investment, which declined in 2016, rebounded sharply in 2017, perhaps driven by expectations of better tax treatment of these purchas...
Weekly Economic Update: January 22 – January 26, 2018
After the 2008-09 recession, the prime-age (25 to 54) labor force participation rate fell drastically. Had it fully recovered, 1.4 million more people would be in the workforce today. Normally, the current headline unemployment rate of 4.1% would indicate little labor market slack.
December 2017 Jobs Review
The Bureau of Labor Statistics (BLS) reports 148,000 nonfarm payroll jobs were added in December, of which 146,000 were in the private sector. The largest private-sector job gains were in construction (+30,000), leisure and hospitality (+29,000), educational and health services (+28,000), and manufa...
Weekly Economic Update: January 8 – January 12, 2018
The labor force participation rates of the prime working-age (25 to 54) population remained relatively stable or increased in other G7 countries since 2007.
A Future Without Kin?
At the Joint Economic Committee’s hearing on social capital in America, Harvard political scientist Robert Putnam highlighted a looming problem that has flown under the policy radar. Many people know that we face a challenge of providing elder care for baby boomers. But what is less recognized...
Weekly Economic Update: December 18 – December 22, 2017
As tax reform advances, small business optimism surged in November, driven largely by an improved economic outlook, nearly reaching the record high of July 1983.
