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April 16, 2024
Employee sentiment fell in April
The Employee Motivation and Commitment index fell 11 points in April, its biggest drop in a year.
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March 4, 2024
MainStreet Macro: What non-economists get wrong
Economists sometimes get their forecasts wrong. First, we say inflation will be transitory. Then we say there will be a soft – no, wait! – a hard landing. A recession! Or maybe, definitely, a soft landing.
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February 26, 2024
MainStreet Macro: The shrinking work week
Are you working fewer hours now than you did before the pandemic? If the answer is yes, you have a lot of company.
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February 20, 2024
MainStreet Macro: Spring means homebuyers—and a big test of inflation
This year, the spring housing market will be watched closely by more than just would-be buyers. Investors, economists, and monetary policymakers also are eying listings in both the inventory-starved for-sale market and the rental market. Here are three reasons why.
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February 12, 2024
MainStreet Macro: Normal? What’s that?
After last month’s blockbuster government jobs report, I’ve been looking for signs of a normal economy. But as economists and market watchers talk of a “new normal” and “normalization,” I’ve been wondering just what a normal economy is.
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October 23, 2023
MainStreet Macro: That new-hire glow is fading
by Nela Richardson, Ph.D. • Liv Wang
Job-switching is looking a lot less lucrative these days. The pay premium new hires commanded during the pandemic has been falling steadily for more than a year. In this week’s MainStreet Macro, ADP chief economist Nela Richardson and ADPRI senior data scientist Liv Wang look at shrinking new hire pay.
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September 18, 2023
MainStreet Macro: What happens when the best choice isn’t available? (Asking for a friend)
They say a dog is a man’s best friend, but let’s be real: Sometimes dogs will settle for second best. It’s that way with the economy, too. Central banks are the economy’s best friends for now, but for how long?
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November 7, 2022
MainStreet Macro: Is the Fed ready for a running play?
by Nela Richardson, Ph.D.
Last week brought fresh job data from the ADP Research Institute and the Bureau of Labor Statistics, and another rate hike from the Federal Reserve. Football season is in full swing, too, so here’s some color analysis of the game we’re all watching: Team Fed v. Team Inflation.
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August 8, 2022
MainStreet Macro: Time well spent
.Something happened last quarter that most economy watchers missed. Labor productivity as measured by output per worker dropped like a rock. In the first quarter of this year, U.S. labor force time was not well spent. Productivity fell by 7.3 percent, the biggest drop since 1947. People worked 2.3 percent more hours and produced 5.4 percent less output.
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