Employee sentiment rose in May: Get the latest from the ADP Research Institute’s Data Lab.

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May 20, 2024

MainStreet Macro: Staycation, road trip, or none of the above?

Memorial Day marks the unofficial start of the summer vacation season in the United States, but with consumers looking downbeat recently, the question is whether they’ll be hitting the road in force like they did last year. How people spend their time off this year–be it binge-watching Netflix from the couch or flying to Hawaii–can tell us a lot about how the economy will perform in 2024.
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March 18, 2024

MainStreet Macro: The new geography of work ­­­

by Nela Richardson, Ph.D.

Anyone who has ever done any hiring knows it’s not always easy to find the right person for the job. And if you’ve been on the other side of the interview table, you know that finding the right company to work for also can be challenging, even in a good economy. This matching process between job candidates and hiring managers has changed a lot over the last four years due to the growth of remote-work arrangements.
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March 11, 2024

MainStreet Macro: Missing the Mark: Trends in teacher salary

by Nela Richardson, Ph.D.

Teachers are a crucial part of the economy. I should know–my mom is a teacher. They’re part of the care economy, often described by economists as the workforce behind the workforce. In a new analysis, the ADP Research Institute’s Jeff Nezaj shows that even though the U.S. economy continues to add jobs at a rapid clip, the education sector is trailing behind. Here are three key findings.
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March 4, 2024

MainStreet Macro: What non-economists get wrong

by Nela Richardson, Ph.D.

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

by Nela Richardson, Ph.D.

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

by Nela Richardson, Ph.D.

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?

by Nela Richardson, Ph.D.

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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February 5, 2024

MainStreet Macro: What to do with good news?

by Nela Richardson, Ph.D.

Wall Street has a complicated relationship with good news, especially when interest rates are high, like they are now. Investors know that economic growth is good for their portfolios, but economic growth plus rock-bottom interests are even better.
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January 29, 2024

MainStreet Macro: What color is your collar?

by Nela Richardson, Ph.D.

This week brings the first jobs report of the new year, and already people are asking about the outlook for 2024. Worries about inflation and recession have been supplanted by labor-market anxiety. Layoffs in technology and finance have triggered unease that white-collar jobs might be vulnerable to a hiring slowdown this year.
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