All Posts Tagged: U.S. Outlook

September Employment Lands Short of the Mark

Scott Anderson
Chief Economist

The September jobs reports brought more troubling signs that the labor market rebound that began in earnest in May as furloughed workers returned to work and peaked in June with a one month 4.78 million job gain is rapidly petering out as winter approaches.  

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A Fragile Manufacturing Recovery

Scott Anderson
Chief Economist

With the onset of the pandemic, the manufacturing and service sectors were both hit incredibly hard. According to the Federal Reserve, U.S. manufacturing production declined at a 47% annualized rate in the second quarter, while the latest GDP report revealed an unprecedented 43.1% annualized decline in real consumer spending on consumer services in the second quarter.

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Another Downside Risk Emerges

Scott Anderson
Chief Economist

Congress has just five days to pass another rescue aid package before they are off to campaign for the November election, leaving very little time to overcome an impasse that has unexpectedly stalled the measure in Congress.

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Large Drop in Unemployment Bolsters Confidence

Scott Anderson
Chief Economist

Another large drop in the U.S. unemployment rate in August was the biggest surprise coming out of today’s employment report. The big decline in the unemployment rate, another sizable 1.37 million net job gain last month, and better than expected average hourly earnings growth, bolsters confidence in the sustainability of this expansion despite growing signs […]

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