MainStreet Macro


November 28, 2022

MainStreet Macro: Robots need a human hand

Before the holiday break, I left MainStreet Macro readers with a bit of a cliffhanger. We had just heard about layoffs at some of the biggest technology companies, a sector that has seen a lot of growth over the past several years.
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Latest posts

August 16, 2021

MainStreet Macro: Working from Home- The Good, the Bad and the Virtual

This week we’re talking about a subject that a lot of us have gained experience with over the past year – working from home. During the early days of the coronavirus outbreak, as much as a third of the U.S. workforce did their jobs from home specifically because of the pandemic, according to the Bureau of Labor Statistics. The number shrank to just 13% in July as more adults were vaccinated. We review four key findings from the survey, “On-site, Remote or Hybrid: Employee Sentiment on the Workplace”.
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August 9, 2021

MainStreet Macro: A jobs recovery like no other

Last week was a big one for labor market data. On Wednesday, the ADPRI National Employment Report showed that the economy added 330,000 jobs in July, a marked slowdown from the 728,000-job pace we saw in the second quarter. On Friday, the Bureau of Labor Statistics released a blockbuster report showing that private payrolls had grown by 703,000 in July. Including the government, the economy added a total of 943,000 jobs. Though the monthly ADP and government numbers have often disagreed dramatically, year-to-date they sing the same tune. Here are three reasons why this is a jobs recovery like no other.
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August 2, 2021

MainStreet Macro: When a Summer Off is a Bad Thing

The labor market is still recovering from last year’s bruising round of pandemic-related business closures, during which, for the first time in history, women bore more than their share of job losses. For some, that premature exit from the workforce was “voluntary”, a decision made to focus on increased family responsibilities during the pandemic. For others, the exit was decidedly involuntary, with women more concentrated in service-related jobs that were hit hardest by the pandemic. As the labor market continues its uneven path to pre-pandemic levels of employment here are three trends to watch for women this summer.
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July 26, 2021

MainStreet Macro: Pivotal Moments

Main Street businesses, the real-world heroes in the economy’s battle against the viral menace of COVID-19, are at just such a pivotal moment. This week, official GDP data is likely to confirm what we already know — the U.S. grew like gangbusters in the second quarter of the year. Yet as good as the economic numbers look from a distance, up close there’s growing unease that Main Street isn’t out of the woods yet when it comes to the pandemic. Here are three pivotal moments Main Street is facing.
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July 19, 2021

MainStreet Macro: How much is too much inflation?

As inflation climbs -- businesses and consumers wonder what this trend means for economic recovery. In this episode of MainStreet Macro, ADP Chief Economist Nela Richardson breaks down the three key relationships influencing inflation and overall economic health.
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July 12, 2021

MainStreet Macro: Special Edition- The glass ceiling just got harder to crack

Women’s job losses during the pandemic topped those of men for the first time in U.S. economic history. The “shecession” left millions of women pulled between work and new family responsibilities. As employees, women also were concentrated in industries hit hardest by social-distancing restrictions, such as retail and leisure and hospitality. At the ADP Research Institute, we wanted to know what happened to the women who stayed in the workforce during the pandemic year. Here are a few things we learned about women in the workplace during the pandemic.
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June 28, 2021

MainStreet Macro: Introducing ADP’s Quarterly Small Business @ Work Survey 

Main Street firms were forced to reduce headcount quickly during the pandemic. But thanks to a potent formula of government stimulus and sheer grit, small firms led the recovery from the worst of the downturn. A new quarterly survey from the ADP Research Institute might help. The Small Business @ Work Survey, which I’m pleased to introduce here, will take the ongoing pulse of their economy. Here are key findings from our inaugural report.
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June 21, 2021

MainStreet Macro: The Fed’s Role: Thermometer or thermostat? 

It came as a surprise to no one, anywhere, that the Fed left interest rates at near zero when the Board of Governors met for its regularly scheduled policy meeting last week. The twist in the announcement, though, was a hint that the Fed might raise short-term rates and lower monthly bond purchases sooner than it had suggested. Today we discuss what hats the Fed needs to wear to help Wall Street, Main Street and the overall economy.
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