by sslifer | May 5, 2023 | Commentary for the Week, NumberNomics Notes
May 5, 2023 Data for the second quarter are beginning to filter in. One has to squint closely to find signs of further slowing in the pace of economic activity. Payroll employment rose 253 thousand in April. The unemployment rate declined 0.1% to 3.4%. Car sales...
by sslifer | Apr 28, 2023 | Commentary for the Week, NumberNomics Notes
April 28, 2023 One of the biggest economic puzzles today is the surprising divergence between consumer confidence, which has plummeted, and consumer spending which has continued to climb at a moderate pace. That makes absolutely no sense. If we are as scared as we...
by sslifer | Apr 27, 2023 | Uncategorized
April 27, 2023 Average weekly earnings was essentially nchanged in March at $1,141.39 after having declined 0.1% in February. In the past year weeky earnings have risen 3.3%. T hat is a respectable gain in nominal earnings. However, weekly earnings have been eroded...
by sslifer | Apr 21, 2023 | Commentary for the Week, NumberNomics Notes
April 21, 2023 The biggest mistake the Fed has made in recent years was believing that the run-up in inflation that began once the recession ended in April 2020 was going to be temporary. Fed officials maintained that view for 20 months. It was not until December...
by sslifer | Apr 7, 2023 | Uncategorized
April 7, 2023 Still away this week. Back on Aprfil 23. But could not resist a fast look at the employment report for March. Payroll employment increased by 236 thousand which was about as advertised. But the nonfarm workweek fell 0.1 hour to 34.4 hours. The...
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