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November 19, 2024

Flipping the housing-labor dynamic

By most accounts, the U.S. economy is doing well. Last week, we learned that inflation is rising more slowly than it was a year ago, and consumers are continuing their brisk spending. Lurking beneath this upbeat data, however, is housing, which continues to put a squeeze on the economy.
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May 6, 2024

Main Street Macro: What the pay gap says about inflation

by Nela Richardson, Ph.D.

One of the puzzles of today’s economy is inflation: Why isn’t it falling as fast as economists or the Federal Reserve expected? Inflation has slowed a lot over the past year, but recently it has stubbornly defied expectations of further declines.
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April 29, 2024

Main Street Macro: Curious about the economy? So are these kids

by Nela Richardson, Ph.D.

In my experience, kids ask the best questions. So for this, the 150th issue of MainStreet Macro, I took advantage of ADP’s Take Your Kids to Work Day to invite three young friends to talk about the economy. Here’s what was on their minds.
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April 15, 2024

Main Street Macro: All that glitters

by Nela Richardson, Ph.D.

Last week’s hotter-than-expected inflation report surprised and rattled investors. The Consumer Price Index accelerated by 0.4 percent in March from the previous month. After a months-long slowdown, price increases in February and March reached their highest level since September and put the annual rate of inflation at 3.5 percent, firmly out of reach of the Federal Reserve’s 2 percent target.
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April 8, 2024

Main Street Macro: Manufacturing: A Cinderella story

by Nela Richardson, Ph.D.

I grew up in Indiana, a big basketball state, so college ball has a special place in my heart. My favorite part of the NCAA college tournament has always been the Cinderella team, those players that surprise everyone with a winning streak. The economy’s winning streak isn’t a big surprise
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April 1, 2024

Main Street Macro: The good and the bad of stress

by Nela Richardson, Ph.D.

If you've ever had a job, you’ve probably experienced stress at work. There's no shame in it. But could workplace stress actually be a good thing? We examined this question, and found an answer.
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March 25, 2024

Main Street Macro: How to catch a moving target

by Nela Richardson, Ph.D.

Change is a constant theme on this blog. That’s not only because the Main Street economy is always in motion, which it is, but also because big, long-in-the-making changes have begun rapidly shifting the economic landscape. For business leaders and decision-makers, it can be hard to keep up, let alone catch changing trends.
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March 18, 2024

Main Street 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

Main Street 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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