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September 27, 2021

MainStreet Macro: Is there an urban exodus of high-income earners in tech and finance?

As disruptive as the past 18 months have been, one place where workers have sought solitude is at home. The housing market has boomed since the pandemic as remote and hybrid work options led to a big uptick in demand for home offices and outdoor space to walk all the puppies that were adopted early days of the lockdown. Much has been said about the pandemic-driven migration to the suburbs. But so far, we’ve had only limited data available to understand it. This week, ADP dove into its payroll data, where we uncovered three worker migration trends that could have long-run implications for the workplace.
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Latest posts

June 1, 2021

MainStreet Macro: The Economy Needs a Vacation–Yours

Memorial Day weekend – the unofficial kickoff to summer. If you’re like me, yours looks like a combination of work and play. But this year, many Americans have had to postpone their usual summer planning. And many others are preparing to make do with less as states begin to revoke a federal unemployment benefit. On this weeks blog, we look at three ways of looking at this summer's labor outlook.
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May 24, 2021

MainStreet Macro: The Retail Remix

Last week we explained how to understand the economy in five easy steps. This week we focus on the most important indicator to watch – consumer spending. The great reopening has many of us dusting off our credit cards to shop (I’ll be honest, I never stopped). Yet the retail landscape is being transformed. Trends in place before COVID-19 accelerated during the pandemic and are remixing retail into the future.
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May 17, 2021

MainStreet Macro: How are we doing? Unpacking the economy in five easy steps

Fourteen months after the pandemic’s initial assault, Main Streeters want to know how we’re doing. The answer isn’t simple. There’s a deluge of data, but depending on where you look, you could find different answers. So how are we doing – really? Here are five things to watch to get a sense of the economy’s overall well-being, ranked from important to very important.
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May 10, 2021

MainStreet Macro: Job Switching

Typically, when the economic growth starts to accelerate like it is now, workers dust off their resumes and look for better options. The economy grew a vigorous 6.4% annualized in the first three months of the year, and is poised to grow by double digits in the current quarter. Yet recent data shows that even as the economy has improved, employees are reluctant to seek out new opportunities. In this week’s blog, we discuss the analysis conducted on 18 million workers to measure the financial returns to job switching.
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May 3, 2021

MainStreet Macro: The Global Workforce Speaks

We’ve spent much of MainStreet Macro’s first four months tracking the economic recovery and unprecedented changes in employment due to the coronavirus pandemic. This week, we shift gears to hear from workers themselves about how their attitudes and lives have adjusted.
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April 26, 2021

MainStreet Macro: Three lessons from history

This is a busy week for the economy. Not only are key members of the Federal Reserve meeting to discuss the hot topic of inflation, we’ll also get a report card on economic growth in the first quarter. What happens next for the economy is uncharted. We’ve never seen such a collision of low interest rates, massive fiscal stimulus, easy money and wealth disparity. We don’t know if the vigorous pace of growth will continue in the second half of the year, or even whether all sectors can recover if it does.
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April 19, 2021

MainStreet Macro: Why can’t we just print more money?

This week, I have a timely and thoughtful question from a 10-year old viewer, Caleb: “Ms. Nela, could you share with us why we can’t just print more money to fix the economy?” Well, Caleb, that’s a very good question, one that’s of particular importance to Main Street right now. When it comes to printing money and fixing the economy, there are three things to know.
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April 12, 2021

MainStreet Macro: Is the glass half full or half empty?

We’ve seen a lot of good news on the economic front, from local jobs to global growth. Yet many Main Streeters are still living with the pandemic’s destruction to their businesses, jobs and health. This begs the question: Is the economic recovery a glass half full or half empty?
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