Clarksville, TN – The Federal Open Market Committee left short-term interest rates unchanged, as expected, and the policy statement was a near photocopy of the one in September.
The FOMC noted that “the case for an increase in the federal funds rate has continued to strengthen,” but for the time being, officials decided “to wait for some further evidence of continued progress towards our objectives.”
The October Employment Report was largely in line with expectations. Nonfarm payrolls rose by 161,000 (median forecast: +175,000), but the two previous months were revised a net 44,000 higher.
Clarksville, TN – Minutes of the September 20-21 policy meeting showed that Federal Open Market Committee members were divided on whether to raise short-term interest rates, and most of those voting to wait felt that it was “a close call.”
Financial markets have increasingly priced in a mid-December rate hike. Amid a thin economic calendar, investors focused on what’s happening in the rest of the world, but also reacted to the initial earnings reports for 3Q16.
Clarksville, TN – The economic data were mixed. The ISM surveys both surprised to the upside, suggesting that the August slowdown was temporary. Unit auto sales were down from a year ago, but up relative to August on a seasonally adjusted basis.
Nonfarm payrolls rose a bit less than expected, while the unemployment rate ticked modestly higher – the start of the school year makes the September figures suspect, but the underlying trends suggest further improvement in overall labor market conditions.
Clarksville, TN – The economic data were mixed. Consumer confidence rose in September. Durable goods orders were mixed. The estimate of 3Q16 GDP growth was revised higher (to a 1.4% annual rate, held back by a sharp slowing in inventory growth).
Personal income rose modestly in August, as expected, but spending was softer than anticipated, suggesting a possible loss of momentum following a strong spring and early summer (economists’ estimate of GDP growth were revised down for both 3Q16 and 4Q16).
Clarksville, TN – Fed Governor Lael Brainard, a dove, presented her case for why the central bank should delay an increase in short-term interest rates. While her views are her own (not representative of the Fed as a whole), a more hawkish tilt would have raised the odds of a September rate hike.
The key economic data reports were on the soft side of expectations, but were still consistent with moderate growth in the near term. Retail sales disappointed in August. Industrial production unwound a seasonal quirk that boosted July figures. CPI figures surprise slightly to the upside.
April 2016 County Unemployment Rates
Nashville, TN – Tennessee County unemployment rates for April 2016 show the rates decreased in 90 counties, increased in two, and remained the same in three counties.
Montgomery County unemployment in April was 4.0 percent down from 4.2 percent in March.
Nashville, TN – Tennessee County unemployment rates for December 2015, released today, show the rates decreased in 43 counties, increased in 35, and remained the same in 17 counties.
Montgomery County’s unemployment rate in December was 5.5 percent, down from November’s rate of 5.7 percent.
Clarksville, TN – Operation Stand Down Tennessee will be hosting a Get A Job Now: Career Empowerment Training Workshop on Thursday, June 4th, 2015 from 9:00am to 12:00pm. The goal of the event is to help those seeking employment identify their perfect career and learn strategies to secure employment.
The event will take place at the Tennessee Career Center in Clarksville – 523 Madison Street, Suite B, Clarksville, TN 37040.
Nashville, TN – Tennessee Labor and Workforce Development Commissioner Burns Phillips announced the Tennessee preliminary unemployment rate for October was 7.1 percent, two tenths of one percentage point lower than the September revised rate of 7.3 percent.
The U.S. preliminary rate for October was 5.8 percent, down from 5.9 percent in September.
Seven percent of Americans still paying off last year’s holiday debt
Yonkers, NY – A majority of Americans say they’re looking forward to the winter holidays with a quarter of respondents “really looking forward” to the season’s greetings, but most don’t plan to break the bank this year, according to Consumer Reports’ first holiday poll.
Consumer Reports’ poll found 62 percent of respondents are excited about the coming of the winter holidays, while only one in 10 of those surveyed have caught the holiday humbug and said they’re not at all energized about this festive time of year. «Read the rest of this article»
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