Business Confidence

Notwithstanding ongoing challenges with the labor shortage and lingering COVID fears, small businesses are generally more optimistic about the future now than they were a year ago, although access to capital is keeping many awake nights. According to a national survey a few weeks ago of 2,140 small business owners by Goldman Sachs, 84% said…

Read More »

Consumer Confidence

The monthly report, Survey of Consumers, by the University of Michigan was recently released and it showed that final consumer sentiment readings in March climbed to 84.9—a more than eight-point jump since February and the highest level reached in a year. The gains are believed to be largely the result of another wave of direct…

Read More »

Where’s the Consumer’s At?

Keeping an eye on the sentiments of the consumer as some restrictions are lifted or rolled back across the country. Well first, just a slight majority are comfortable going out to dine at a restaurant. According to the latest data from Morning Consult, 51 percent of Americans feel safe going out to eat, up from…

Read More »

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…

Read More »

Consumer Trends

According to the latest Survey of Consumers produced by the University of Michigan, consumer sentiment for early February dropped by nearly three whole points to 76.2, the lowest reading since August of last year and down more than 20 points from February of 2020 – which was just before the coronavirus pandemic hit the U.S.…

Read More »

Miscellaneous

According to new data released by the Bureau of Labor Statistics earlier this month, the leisure and hospitality industry brought back 271,000 jobs in October – over 70 percent of which were at bars and restaurants. Furthermore, the unemployment rate for the hospitality sector of the economy dropped from 19 percent in September to 16.3…

Read More »

Economic Reports

State revenues have plummeted since the COVID-19 pandemic hit the country in mid-March to the tune of an estimated $31 billion in lost tax revenues thus far. Further, the analysis by the Urban Institute points to a 6.4 percent reduction in revenue through the month of August, with greater losses possible as coronavirus shutdowns continue…

Read More »

Miscellaneous

According to a recent poll by the Gallup Group, public approval for labor unions and organized labor activities is on the upswing. Historically, support of organized labor has been dropping from its peak of 75 percent approval reached back in 1957 to a low of 48 percent recorded just over a decade ago in 2009.…

Read More »

Miscellaneous

The economic havoc the pandemic shutdowns are wreaking across the country is being measured by a host of different metrics. This week a new survey, released by the New York Hospitality Alliance and reporting on 450 respondents from the alliance’s 2500 members, underscores the severity. As reported in the New York Times, 9 out of…

Read More »

July Economic Volatility

Just about halfway through life with the coronavirus, there was a mix of good and bad results coming to us last month. On the positive end of the spectrum, the U.S. Commerce Department reports that retail sales at restaurants jumped by 5 percent last month – easily outpacing the 1.2 percent growth experienced by the…

Read More »