Job Gyrations
Column Published in syndication January 15, 2025Despite remarkable resilience, Federal Reserve actions to slow inflation have had the inevitable effect of weakening the job market. There are fewer openings and slower gains than a year ago, though the trend is somewhat erratic and remains generally upward. More concerning from a long-term perspective is the mix of jobs being added and those that have been lost. Let's explore some highlights from recent data describing how the labor market changed during 2024.
Goodbye 2024
Column Published in syndication January 01, 2025As we wind down 2024, here's a look at some of the key events affecting the economy and potential effects going forward. By any definition, it has been quite a year! One of the most notable events was the decrease in US inflation, down from about 9% to less than 3%. Even with the aggressive measures taken by the Federal Reserve to make it happen, a major downturn was avoided. In September, a rate cut was finally implemented, with others in November and December.
2024
Column Published in syndication January 10, 2024Looking back at 2023 (or 2022, 2021, or 1687 for that matter) confirms that there are always unanticipated events in the economy, no matter how many millions of equations or thousands of hours of research a forecast involves. Nonetheless, there are trends that can be anticipated that will be key drivers of economic growth in 2024. Let's take a brief look.