Steven Wood
Steven Wood
Steven Woodwas an Australian sprint canoeist and marathon canoeist who competed in the late 1980s and early 1990s. Competing in two Summer Olympics, he won a bronze medal in the K-4 1000 m event at Barcelona in 1992...
activity balance continued declines fed further helped high housing labor last likely markets mortgage rates relatively rising robust sustain
With last week's Fed tightening, mortgage rates have continued to rise, so that further declines in housing activity are likely over the balance of the year. Nevertheless, robust labor markets and rising incomes have helped sustain housing at a relatively high level.
broad data economy indicate labor likely market slowing
These data indicate that the deterioration in the labor market has not been halted. Therefore, the slowing in the broad economy has likely not been halted either.
claims continuing further hiring labor last layoffs market pace peak rise surpass taking
Even as the pace of layoffs has ebbed, no new hiring is taking place, so continuing claims will rise even further and surpass their peak in the last recession. Labor market deterioration is continuing with no end in sight.
degree indicate labor market measures slack slowly
Most measures of the labor market indicate that the degree of slack is slowly disappearing.
claims continuing labor last market similar steadily survey weakness week
New claims during the survey week are broadly similar to where they have been for the last two months, when payrolls fell, ... Continuing claims have been ratcheting steadily higher. Labor market weakness remains.
associated claims continuing employment gains gradually labor levels markets payroll
New and continuing claims are at levels that historically have been associated with payroll employment gains of around 225,000. Labor markets are gradually improving.
data economic extend key labor markets open pressure quarter questions relieve rest second slow spending sufficient suggest welcome
While these data will be welcome by the (Fed), two key questions remain. Will the second quarter spending slow down extend through the rest of the year? Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation? At this point, that is still an open question.
data economic extend key labor markets open pressure quarter questions relieve rest second slow spending sufficient suggest welcome
While these data will be welcome by the (Fed), two key questions remain, ... Will the second quarter spending slow down extend through the rest of the year? Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation? At this point, that is still an open question.
declining gains good input labor occurs rapidly situation
While good gains in productivity are economically favorable, it is not a good situation when this occurs because labor input is declining more rapidly than output.
data despite economy federal inflation labor low market open provide relief robust tight
Despite a robust economy and tight labor markets, inflation is still low and steady. These data provide some relief for the Federal Open Market Committee.
despite gains income labor moderate remain spending sufficient support
Despite the loosening of the labor markets, income gains remain sufficient to support spending at a moderate pace.
adjusting appear both claims continuing despite employment initial labor markets near october payroll remain storm strong weak
After adjusting for the storm effects, both initial and continuing claims appear to be near their pre-hurricane levels, indicating that labor markets remain strong despite the weak October payroll employment report.
committee continue employment federal interest labor markets open payroll raise rise strong
Labor markets are very strong and payroll employment should rise by 200,000 or more in February. The Federal Open Market Committee will continue to raise interest rates.
activity begins breach continues economic economy fast few hiring labor layoffs markets national percent prospects remain
Labor markets are deteriorating rapidly. Layoffs remain at a fast pace, while hiring has all but stopped. As economic activity continues to unravel, there are few prospects for a near-term turnaround. The national unemployment rate, now at 4.9 percent, should breach 6 percent before the economy begins to recover.