Economy Moves Front & Center

As we move closer to a complete reopening of the American economy in the wake of decreasing COVID -19 infections and increasing citizens being fully vaccinated, Bureau of Labor Statistics (BLS) information is getting much more play in news cycles – and for a bunch of not-so-encouraging reasons. First off, the labor shortage appears to…

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Miscellaneous

Starbucks Shareholders yesterday rejected an eye-popping executive compensation proposal for the C-Suite that included a $1.86 million payout for CEO Kevin Johnson as a performance bonus for fiscal year 2020 along with $50M in “retention pay” if the CEO were to stick around with the company through fiscal year 2022! Although the rejected resolution was…

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Business and Consumer Confidence

While the COVID vaccine becomes more available and more states relax some of their onerous restrictions on business operations, both business and consumer confidence continue to play on the metaphorical see-saw. A survey by the National Federation of Independent Business found the outlook of small business owners improving slightly with 15% of its respondents reporting…

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Economic Observations

The U.S. Bureau of Labor Statistics (BLS) last week reported that average hourly earnings increased 0.4 percent from November to December 2020. The increase stems from an increase of 0.8 percent in hourly earnings coupled with a 0.4 percent rise in the Consumer Price Index (CPI). Year over year, average hourly earnings increased 3.7 percent…

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Miscellaneous

Earlier this month, the U.S. Bureau of Labor Statistics reported that average hourly earnings for all employees actually increased 0.1 percent from September to October 2020. Notwithstanding ongoing challenges from the coronavirus pandemic and its recent spikes, real average hourly earnings year over year increased 3.2 percent from October 2019 to October 2020. The Consumer…

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Economic Notes

As the economy continues to rebound, albeit more slowly than we’d all prefer, the leisure, food service and hospitality industries are more than pulling their weight. According to the Bureau of Labor Statistics (BLS), the leisure and hospitality industry adding 174,000 jobs total in August, of which restaurants and bars accounted for 133,600 of them…

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Weekly Unemployment Claims Skyrocket –

This week’s unemployment report from the Bureau of Labor Statistics was released yesterday with new jobless claims setting an all-time record. In the wake of the COVID-19 pandemic shutting businesses down across the country, the BLS reported a seasonally-adjusted total of just under 3.3 million individuals filed new claims for the week ending March 21,…

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Strong Economy – Through February Anyway

We all know how the economy has tanked over the past week or so as a result of the coronavirus, but according to the Bureau of Labor Statistics (BLS), it was still going gangbusters through February. The BLS reported the addition of 273,000 new non-farm jobs in February with the unemployment rate remaining steady at…

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Miscellaneous

FRANdata last week released its Franchise Business Economic Outlook 2020 and predicted that the franchise industry will continue with its economic boom throughout this year. The report, done in conjunction with the International Franchise Association (IFA), projects a 1.5% increase in the number of franchises, growing to over 785,000 by year-end. In addition, it projects…

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Miscellaneous

According to numbers released by the Bureau of Labor Statistics (BLS) last week, there were almost 900,000 job openings in the leisure and hospitality industry as of the end of August, a reduction of almost 100,000 from the same time last year. That said however, there was also other very good news on the average…

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