This Week's State Of The Economy - What Is Ahead? - 05 August 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 08, 2022

This Week's State Of The Economy - What Is Ahead? - 05 August 2022

The Good News

The Bureau of Labor Statistics reported this morning that nonfarm payrolls increased 528,000 for the month of July, easily topping estimates, lowering the unemployment rate to 3.5%.  Wage growth also increased 0.5% for the month and 5.2% from the same month last year.  This is the strongest counter-point to concerns we have already entered a recession and is certainly good news for U.S. workers.

 

The Bad News

The Bureau of Labor Statistics reported this morning that nonfarm payrolls increased 528,000 for the month of July, easily topping estimates, lowering the unemployment rate to 3.5%.  Wage growth also increased 0.5% for the month and 5.2% from the same month last year.  This is the strongest counter-point to hopes that the Fed might be able to back-off further rate increases as wage growth and overall economic strength point to continued inflation risks, which erodes consumer buying power and is certainly concerning news for U.S. workers.

It is fair to note that while the factors noted above demonstrate continued strength in the job market, there are other measures of labor market strength have shown signs of slowing.  Nonetheless, the July jobs report puts further pressure on the Fed to act aggressively in its fight against inflation.




This Week's State Of The Economy - What Is Ahead? - 27 November 2019

A series of U.K. general election polls released this week continue to show Boris Johnson’s Conservative Party with a significant lead over the opposition Labor Party.

This Week's State Of The Economy - What Is Ahead? - 24 March 2023

The FOMC hiked the federal funds rate by 25 bps on Wednesday amid continued strength in the labor market and elevated inflation.

This Week's State Of The Economy - What Is Ahead? - 22 April 2022

I’ll wish you a Happy Earth Day anyway. Don’t expect a card this year. While the Earth continues to thankfully revolve at a steady rate, rising mortgage rates appear to be slowing residential activity

This Week's State Of The Economy - What Is Ahead? - 12 June 2020

Lock downs began to be lifted across most of the country by the end of May and the total amount of daily new coronavirus cases has been trending lower. But the flattening case count has not been consistent across the country.

This Week's State Of The Economy - What Is Ahead? - 16 October 2020

Data continue to reflect an economy digging itself out of the lockdown-induced slump.

This Week's State Of The Economy - What Is Ahead? - 01 May 2020

U.S. GDP declined at an annualized rate of 4.8% in the first quarter, only a hint of what is to come in the second quarter.

This Week's State Of The Economy - What Is Ahead? - 07 October 2020

In the immediate fallout after the lockdowns in the early stages of this pandemic, there was a lot of discussion about the shape of the recovery.

This Week's State Of The Economy - What Is Ahead? - 29 January 2021

Economic data came in largely as expected this week and suggest continued economic recovery.

September 2020 Economy At A Glance

A March survey by the Federal Reserve Bank of Dallas found most exploration firms need West Texas Inter-mediate (WTI) at $49 per barrel or higher to profitably drill a well.

This Week's State Of The Economy - What Is Ahead? - 08 October 2021

September\'s disappointing employment report clearly takes center stage over this week\'s other economic reports. Nonfarm employment rose by just 194,000 jobs, as employers continue to have trouble finding the workers they need.


Instagram

@ tcgcrealestate

Subscribe Now! IT's Free

Stay up to date with all news coming straight in your mailbox.

Copyright © 2023 TC Global Commercial. All rights reserved.