Econ Studies Group

A place to explore the most pressing economic policy concerns

[Econ Studies Group @ESG_GC]

Nearly four years after the onset of Covid-19 how is employment in New York City faring? In this post Dr. James Orr and Gillian Fuchs outline the pattern of recovery of employment in the City and show employment evolving in different industries. Read more: https://t.co/K3WSK1gvOv

[Econ Studies Group @ESG_GC]

With the Fed raising rates, high inflation, and a possible recession it's never been harder to be a bank. Dr.Siokis analyses the failure of (Silicon Valley Bank ) SVB and what went wrong in this month's article: https://t.co/JP1B6HzVDX

[Econ Studies Group @ESG_GC]

As New York recovers, the current employment landscape is very different than before lock down. Contributors James Orr and Maryam Fatemi explore some post Covid shifts for selected industries and their implications in this month’s article. Read more here: https://t.co/5A6FoOn3SC

[Econ Studies Group @ESG_GC]

They say past predicts future and with the FED increasing rates it is more important than ever to learn from the past. Contributor Dr. Fordjour speaks about the impact of interest rates on housing demand in an older ESG article. Read it here: https://t.co/vZe863rzyP

[Econ Studies Group @ESG_GC]

The Federal Reserve raised interest rates by .5. its largest hike since 2000. This is aimed at reducing inflation as prices rise. It has also contributed to much of the recent volatility in the stocks market. Read more here: https://t.co/wMs9j4O8Qj

[Econ Studies Group @ESG_GC]

The labor market remains tight as the US economy jobless claims rose only 203,000 last week, falling to below pre-pandemic levels. While wages are growing at a rate of 5.5% on average. Read more about it here: https://t.co/c2SLNh4tEe

[Econ Studies Group @ESG_GC]

Firms are feeling the impacts of inflation as well as consumers, with producer prices increasing by 11%. This is being primarily driven by food and oil prices. You can read more here: https://t.co/WmIBeYF6Qm

[Econ Studies Group @ESG_GC]

Despite inflation, retail growth grew by .9% in April. Consumers spent more on Food, Vehicles, and bars but spent less on gasoline as prices increased. You can read more here: https://t.co/dYOzHcpuql

[Econ Studies Group @ESG_GC]

As summer begins, many consumer plans are being put on hold due to inflation. This Is partially due to Inflation in March being 8.5%, with gas prices increasing by 50% over the course of the year, which in turn is reflected in flight prices. Read more here:https://t.co/1tmo2at0f6

[Econ Studies Group @ESG_GC]

The United States added 428000 jobs in April as unemployment remains at 3.6%. The strength is driven by increasing consumer spending, and alongside a shrinking labor force is tightening the labor market as firms try to expand production. Read more here: https://t.co/837iRd3fBT

[Econ Studies Group @ESG_GC]

Unemployment claims increased last week, but remained near historic lows. This corresponds to a unemployment rate of 3.6% with employers adding an average of 600000 jobs over the last six months. Read more here: https://t.co/GCkNm2xNYN

[Econ Studies Group @ESG_GC]

The United States joblessness claims reached a decade low to 166000 last week. This indicates that the labor market continues to tighten as America recovers from the pandemic. This leads to an unemployment rate of 3.6% for March. Read more here: https://t.co/TjmcB6kiZR

[Econ Studies Group @ESG_GC]

US inflation hits a new high of 8.5% in March, driven primarily by energy and food costs. This is also exacerbated by government spending and a booming economy. Read more about the causes here: https://t.co/pphOyKaMFW

[Econ Studies Group @ESG_GC]

While firms struggle to find workers, they are investing in their current employees. The last year saw 7.4% increase in the amount of spending from 2021, the fastest since 2012. This could lead to an increase in productivity and wages. Read more here: https://t.co/uYzPgPkQFN

[Econ Studies Group @ESG_GC]

Housing prices continue to increase as supply hits a all-time low. Prices rose 19.2% in January over the previous 12 months, compared with an 18.9% annual gain in December. The market is expected to slowdown as supply and costs stabilize. Read more here: https://t.co/xKwD5CfOsO

[Econ Studies Group @ESG_GC]

The number of job openings eased slightly in February as the Labor Department reported 11.3 million job openings, a decrease from 11.4 million in January. This might indicate a cooling in the labor market as Covid constraints loosen. Read more here: https://t.co/a5OCcYv4bm

[Econ Studies Group @ESG_GC]

Workers have seen an increase in their wages as the labor market tightened. This led to a historic wage growth, specifically for service workers. Wages grew 5.1% in the month of February. However, inflation is eating into these gains. Read more here: https://t.co/IdL2hLpNky

[Econ Studies Group @ESG_GC]

Employers added 678k workers in February and joblessness fell to 3.8% from 4% in the previous month. The service industry accounted for most of these gains as Covid restrictions are relaxed. Read more here: https://t.co/npZFx0rvN2

[Econ Studies Group @ESG_GC]

US trade deficit has increased by 9.4%, reaching an all-time high of 89.7 billion dollar gap. This is primarily driven by energy and vehicle demand. This reflects an increasing consumer demand as Covid wanes. Read more here: https://t.co/Qant9BcH4P

[Econ Studies Group @ESG_GC]

As the global economy continues to experience increasing prices, the IMF lowered the projected globally. The economic growth rate from 5.5% to 4.3% in 2022. This is being driven by food prices. Read more here: https://t.co/u0cG4meLsK