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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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.…

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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…

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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…

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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.…

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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…

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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…

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Economic Volatility

As the coronavirus continues to ebb and flow in different regions of the country, causing some states to slow the pace of re-opening for business, the volatility is taking a toll on consumer confidence across the board. According to new data released this week by the Conference Board, consumer confidence dipped in July as COVID-19…

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Miscellaneous

The Department of Labor reported yesterday that another 3.8 million new unemployment claims were filed last week, pushing the total for the last six weeks over the 30 million mark.  In the wake of the latest report out of DOL, the Congressional Budget Office has projected that the unemployment rate could reach as high as…

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Miscellaneous

“Compensation envy” hit fever pitch this week as the AFL-CIO released its 2018 Executive Paywatch report, which analyzes the pay ratio between CEOs and their median employee. The report claims that on average, CEOs of S&P 500 companies received $14.5 million in total compensation, 287 times that of their median worker. Notwithstanding, The Conference Board…

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