Tuesday, September 16, 2014
Inquirer Daily News

POSTED: Friday, August 8, 2014, 2:59 PM
Ford worker Dan Fortune performs a door install on a new 2014 Ford F-150 truck on the assembly line at the Ford Dearborn Truck Plant in Dearborn, Michigan. (Bill Pugliano / Getty Images)

INDICATOR: Second Quarter Productivity and Costs

KEY DATA: Productivity: +2.5%; Output: +5.2%; Real Hourly Compensation: +0.1%; Unit Labor Costs: 0.6%

IN A NUTSHELL: "Productivity rebounded, keeping business costs low as wage gains remain largely under control."

Joel L. Naroff @ 2:59 PM  Permalink | 0 comments
POSTED: Tuesday, August 5, 2014, 1:22 PM

INDICATOR: Supply Managers' Non-Manufacturing Index

KEY DATA: ISM: +2.7 points; Orders: up 3.7 points: Employment: +1.6 points

IN A NUTSHELL: "The services sector is bouncing back rapidly and since that is the largest part of the economy, it looks as if strong growth is just about here."

Joel L. Naroff @ 1:22 PM  Permalink | 0 comments
POSTED: Thursday, July 31, 2014, 3:54 PM
((istock photo))

INDICATOR: Second Quarter Employment Cost Index and Weekly Jobless Claims

KEY DATA: ECI (Private, Year-over-Year)): +2.0%; Wages: +1.8%; Benefits: +2.5%/Claims: 302,000 (up 23,000)

IN A NUTSHELL: "Wage and benefits pressures are barely starting to accelerate even as the labor market continues to strengthen."

Joel L. Naroff @ 3:54 PM  Permalink | 0 comments
POSTED: Wednesday, July 30, 2014, 3:35 PM
Morning commuters drive past the Federal Reserve Bank building in Washington March 18, 2009. (Jonathan Ernst / Reuters File Photo)

Indicator: July 29, 30 '14 FOMC Meeting

In a Nutshell: "...a range of labor market indicators suggests that there remains significant underutilization of labor resources."

Rate Decision: Fed funds rate maintained at a range between 0% and 0.25%

Joel L. Naroff @ 3:35 PM  Permalink | 0 comments
POSTED: Tuesday, July 29, 2014, 2:01 PM
In this July 10, 2014 photo, a mailman delivers mail to a house for sale in Quincy, Mass. Standard & Poor's/Case-Shiller reports on U.S. home prices in May on Tuesday, July 29, 2014. (AP Photo/Michael Dwyer)

INDICATOR: May Case-Shiller Home Prices and July Paychex Small Business Hiring

KEY DATA: Case Shiller (Monthly): -0.3%; Annual: +9.3%/Paychex: up 0.3%

IN A NUTSHELL: "Small businesses are hiring but the improving labor market conditions are not translating into booming home sales or prices."

Joel L. Naroff @ 2:01 PM  Permalink | 0 comments
POSTED: Thursday, July 24, 2014, 7:27 PM
Construction crews work on a new home at a housing development in Dublin, California. (Justin Sullivan / Getty Images)

INDICATOR: June New Home Sales and Weekly Jobless Claims

KEY DATA: Sales: down 8.1%; Jobless Claims: 284,000 (down 19,000)

IN A NUTSHELL: "The labor market may be getting better but wage gains are not and until that happens, families will not be buying new homes at any great pace."

Joel L. Naroff @ 7:27 PM  Permalink | 0 comments
POSTED: Tuesday, July 15, 2014, 11:25 AM
In this photo taken May 14, 2014, Jody Dickman, of Pittsburgh, shops at a Gap store in Pittsburgh. The Commerce Department releases retail sales data for June on Tuesday, July 15, 2014. (AP Photo/Gene J. Puskar)

INDICATOR: June Retail Sales and Import Prices

KEY DATA: Retail Sales: +0.2%; Excluding Vehicles: +0.4%/Import Prices: +0.1%; Excluding Fuel: -0.1%

IN A NUTSHELL: "Consumer exuberance remains restrained and that raises questions about how strong the economy can or will grow."

Joel L. Naroff @ 11:25 AM  Permalink | 0 comments
POSTED: Tuesday, July 8, 2014, 3:28 PM
That more work needs to be done before firms are forced to start bidding for workers is clear, but that time may not be far off. (istock photo)

INDICATOR: May Job Openings and Labor Turnover Survey

KEY DATA: Openings: +171,000; Hiring: -52,000; Quits: +60,000

IN A NUTSHELL: "Rising openings and increasing labor turnover is another sign that the labor market is improving rapidly."

Joel L. Naroff @ 3:28 PM  Permalink | 0 comments
About this blog
Joel L. Naroff is the president and founder of Naroff Economic Advisors, a strategic economic consulting firm in Bucks County. He advises companies across the country on the risks and opportunities that economic developments may have on the organization’s operating environment. An accomplished public speaker, Joel’s humor and unique ability to make economics understandable have brought him a wide following. Reach Joel at joel@naroffeconomics.com .

Joel Naroff
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