Economic Commentary

Nonfarm payrolls rose less than expected in November. The three-month average remained relatively strong, although below the pace of the first half of the year. That’s not surprising. As the job market tightens, the number of available workers decreases. Anecdotal reports suggest that firms are having further difficulty finding skilled labor, and workers are more […]

The recent data releases continue to suggest moderately strong economic growth in the near term and little threat of higher inflation. However, investors remain anxious about a wide range of issues. In contrast, in his discussion last week, Fed Chairman Powell appeared confident that the economy is in good shape and can handle further rate […]

The midterm election results were about as anticipated, with Democrats gaining control of the House and Republicans retaining control of the Senate. Peace, love, and everyone sings Kumbaya, right? The new Congress begins in January. The current Continuing Resolution that funds the government expires on December 7, and we could see a showdown, but it […]

The year-over-year increase in average hourly earnings was a bit exaggerated in the October employment report, but the underlying trend is higher. Growth in nonfarm payrolls rebounded from the effects of Hurricane Florence, while Hurricane Michael “had no discernible effect,” according to the Bureau of Labor Statistics. Looking through the weather and the noise, job […]