Private Payrolls Added 877,000, But Remain Well Below the Prior Peak
“Private payrolls added 877,000 but the slowing of pace recovery in employment and huge numbers of unemployed suggest the recovery remains extremely uncertain.” – Robert Hughes
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Personal Income and Savings Fall as Government Supports Fade
“Personal income fell in August as government payments declined. Ongoing restrictions on consumers and businesses continue to threaten the economic recovery.” – Robert Hughes
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Initial Claims and Continuing Claims for Unemployment Benefits Remain High
“Initial claims for unemployment benefits remain stubbornly high, suggesting a slow and uneven economic recovery.” – Robert Hughes
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Consumer Confidence Sends Mixed Signals in September
“Consumer attitudes improved in September, but views of current conditions and the future remain sharply divergent; combined with other developments, the economy remains at risk.” – Robert Hughes
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Durable-Goods Orders Posting A Solid Recovery
“Manufacturers’ new orders for durable goods rose in August, but the uneven pace of recovery in many areas of the economy is raising concern about the durability of the recovery.” – Robert Hughes
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Housing Remains a Bright Spot for the Economy
“The housing market has become a bright spot for the economy, supported by low interest rates and rising demand as urbanites move to less dense living areas.” – Robert Hughes
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Initial Claims for Unemployment Benefits Remain Stubbornly High
“Initial claims for unemployment benefits remain very high, suggesting a slow and uneven economic recovery.” – Robert Hughes
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Household Net Worth Hits A Record While Government and Corporate Debt Pile Up
“Despite the pandemic, restrictive government policies, and recession, household net worth rebounded to a new record but excessive debt in other sectors is a risk.” – Robert Hughes
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Single-Family Housing Permits Hit a Multi-Year High
“Single-family housing is becoming one of the strongest areas of the economy, supported by low mortgage rates and rising demand as urbanites transition to less dense housing.” – Robert Hughes
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Total Unemployment Benefits Recipients Remain Near 30 Million
“The number of unemployment benefits recipients remains very high, suggesting a slow labor market recovery and uncertain path for economic growth.” – Robert Hughes
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Retail Spending Rises in August But the Pace Slows
“Retail sales posted another gain in August, but the pace is slowing; persistent uncertainty regarding Covid-19 and government policies remains a significant risk to future growth.” – Robert Hughes
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Energy and Vehicle Production Fall While Other Industries Continue to Rebound
A manufacturing rebound continued in August, but recoveries vary widely across industries. Persistent uncertainty about Covid-19 and government policies continue to threaten the recovery.
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