News
National Economic Trends...
The fiscal drag expected from the fiscal cliff tax deal and the budget sequester have not (at least yet) had much of an impact on consumer spending, hiring or pretty much anything else. As a result, Q1 economic growth was stronger than previously expected. Also, even though the economy is structurally improving, 2.5% growth isn't anything to get giddy over.
The biggest positive recently was a 1.1% jump in total retail sales reported in Februray over prior month.
The broadest measure of unemployment tracked by the Labor Department is something called "U-6" which includes everybody that the regular unemployment rate doesn't court as unemployed because they've dropped out of the labor force, as well as those who are working part-time work. The U-6 rate gap grew wider during the Great Recession and has remained stuck there.
Looking into a more positive direction, the housing market continues to make progress, autos are flying off lots and exports have rebounded a bit. All of which has led to renewed vigor in the industrial sector.