Recovery's Growth Gap Remains Large
Recovery's Growth Gap vs. Reagan
Estimate of GDP Growth in 1st-quarter cut to 1.8% from prior estimate of 2.4%
The Bureau of Economic Analysis (BEA) estimates that real gross domestic product (GDP) increased at an annual rate of 1.8% during the 1st-quarter 2013. Today’s release is the 3rd estimate of first quarter GDP. This represents a decrease in the rate of growth from BEA’s second estimate of real GDP ...
Weekly Economic Update: June 17-21, 2013
The headline consumer price index increased 0.1% in May while the core rose 0.2%. Housing starts rebounded 6.8% in May to a still lower-than-expected annual pace of 914,000 units. Building permits slowed to a 3.1% increase in May to 974,000 units. The FOMC held constant its target for the federal fu...
Weekly Economic Update: June 10-14, 2013
The U.S. Treasury reported a higher-than-expected monthly deficit of $138.7 billion in May. Retail sales increased 0.6% in May. Business inventories rose 0.3% in April. Industrial production was unchanged in May after declining 0.4% in April. The topline producer price index increased 0.5% in May; t...
Jobs Gap
Employment top Population Ratio Not Improving
Economy Adds 175,000 Nonfarm Payroll Jobs in May, Unemployment Rate Ticks Up to 7.6%
The Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by a seasonally adjusted 175,000 during May. Private sector payrolls added 178,000 payroll jobs. The unemployment rate ticked up 0.1 percentage point to 7.6%.
North American Energy—Closing the Growth & Jobs Gap
Advanced drilling methods are increasing output and employment, generating economic benefits on multiple fronts. The increased demand for workers based on increased productivity and the surge of capital investment in the oil and natural gas industry provide real inducements for economic growth in s...
Weekly Economic Update: May 27-31, 2013
The Case-Shiller home price index increased 1.1% in March, up 10.9% from March 2012. First quarter GDP was revised downward to 2.4% from a previously reported 2.5%. Pending home sales increased 0.3% in April. Personal income remained unchanged in April as personal spending fell 0.2%. Initial jobless...
