Author: wgraham

ADP News Release (06/30/21) Private sector employment increased by 692,000 jobs from May to June, according to the ADP National Employment Report. “The labor market recovery remains robust, with June closing out a strong second quarter of jobs growth,” said Nela Richardson, chief economist, ADP. “While payrolls are still nearly seven million short of pre-Covid-19 levels, job gains have totaled about three million since the

Federal Reserve Bank of Philadelphia (06/18/21) The U.S. economy’s output (real gross domestic product) will grow at an annual rate of 7.8% during the first half of 2021, according to a survey of 19 forecasters by the Federal Reserve Bank of Philadelphia. The economic rebound is expected to continue in the second half of 2021 when growth is expected to be at an annual rate

Federal Reserve Bank of Richmond (06/22/21) Mid-Atlantic manufacturing activity strengthened in June, according to the Federal Reserve Bank of Richmond. The composite index rose from 18 in May to 22 in June. This was driven by an increase in the new orders index, while the other two component indexes—shipments and employment—also remained in expansionary territory. Overall, respondents saw improvement in local business conditions and were

Projections for US gross domestic product were revised upward sharply while projections for the US unemployment rate were lowered, according to the Livingston Survey of economists released on June 18 by the Federal Reserve Bank of Philadelphia. They expect real GDP to grow 6.7% in the second half of this year. The previous survey forecast growth of just 3.7%. In addition, the US unemployment rate

Reuters (06/08/21)  U.S. job openings surged by nearly one million to a new record high in April, while more people voluntarily left their employment, strengthening the view that a recent moderation in job growth was due to supply constraints. Job openings, a measure of labor demand, increased by 998,000 to 9.3 million on the last day of April, the highest level since the series began