Economic Trends

The labor shortage continues to wreak havoc with many small businesses across the country notwithstanding the addition of some 23,000 in the leisure and hospitality industry last month with restaurants and bars accounting for nearly half that job growth, according to new data from the Bureau of Labor Statistics. Furthermore, average hourly earnings rose 4.8…

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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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Jobless Claims Beginning to Spike

As COVID-19 continues to spread around the nation the inevitable jump in unemployment claims is seemingly now beginning in earnest. According to the weekly initial unemployment claims data from the Department of Labor, seasonally-adjusted initial claims were some 70,000 higher for the week ending March 14 than they were in the prior week. Total initial…

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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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Economic Growth Continues

Notwithstanding many who for their own political reasons “wish it weren’t so”, the nation’s economy continued to grow and strengthen through June with average hourly earnings increasing 0.2% for the month. According to the Bureau of Labor Statistics (BLS), year over year, real average hourly earnings grew 1.5 percent from June 2018 to June 2019…

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Miscellaneous

The tightening of the labor market isn’t showing any signs of letting up. Just yesterday, the Department of Labor released unemployment enrollment numbers showing the lowest number of people collecting unemployment benefits at the end of 2017 in 44 years. At the end of last year, DOL recorded 1.87 million collecting unemployment insurance, the lowest…

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