Fact of the Week

by Raymond J. Keating- There are signs of hope in various places – hope that this pandemic will soon be put to rest for the sake of lives, public health, and the economy. That hope is tied to the distribution of vaccines, which will then lead to a return to normalcy, including for the economy. […]

by Raymond J. Keating- The housing numbers served up by the U.S. Census Bureau were ugly for February. That’s troubling given that housing has been a major bright spot for the economy during this pandemic economy, as well as the fact that housing very much is about small business. The data pointed to housing starts […]

by Raymond J. Keating- The Federal Reserve reported that industrial production extended its growth streak to four months in a row in January. Specifically, overall industrial production – the actual output of the manufacturing, mining and utility sectors of our economy – grew in January by 0.9 percent. And manufacturing production, which accounts for the […]

by Raymond J. Keating- The U.S. Census Bureau’s latest numbers on business applications serve up some optimism in terms of where entrepreneurship and our economy might be headed. First, what do these numbers tell us, and why should we care? The Census’ business formation statistics tally up Employer Identification Number (EIN) applications across the United […]

by Raymond J. Keating- The monthly employment report from the U.S. Bureau of Labor Statistics always requires a bit more explanation than other releases on the economy given that it is based on two surveys, with payroll employment numbers coming from the establishment survey, and numbers like the employment-population ratio, labor force participation rate and […]

  by Raymond J. Keating- The early takes on manufacturing in 2021 point to a very encouraging start to the year. The IHS Markit U.S. Manufacturing PMI registered a record high in January 2021 (this index goes back to May 2007), thanks to an acceleration in both output and new orders. That included the most […]

by Raymond J. Keating- The Federal Open Market Committee statement released on January 27 noted, rightly, its assessment of the economy now and in the near term depends almost completely on the pandemic. However, when it comes to actual monetary policy, the Fed continues to be wildly disproportionate, and perhaps even detached from economic reality. […]

by Raymond J. Keating- While labor unions continue to carry weight in the halls of political power, while also claiming a significant share of government workers as members, their long decline in the private sector has largely continued. The U.S. Bureau of Labor Statistics recently released its “Union Members – 2020” report. Of course, with […]

by Raymond J. Keating- The latest “Job Openings and Labor Turnover” report was just released by the U.S. Bureau of Labor Statistics, and it points to little of substance changing in November regarding job openings, new hires and the quits rate. Meanwhile, the bigger picture provides a reminder that the U.S. economy remains in a […]

by Raymond J. Keating- The Institute for Supply Management’s services index showed that growth continued for the seventh month in a row in December. The services PMI registered 57.2 percent in December, up by 1.3 percentage points versus November. Anthony Nieves, chairman of the Institute for Supply Management Services Business Survey Committee, noted: “This reading […]