Joseph Abate

The claims data are telling us that the labor market is continuing to improve and growing at a rate of read more

The claims data are telling us that the labor market is continuing to improve and growing at a rate of about 200,000 jobs a month.

Further improvement in earnings and additional declines in the unemployment rate is likely to boost overall confidence and keep consumption read more

Further improvement in earnings and additional declines in the unemployment rate is likely to boost overall confidence and keep consumption strong.

There has been some spotty signs of a cooling in the broader housing market.

There has been some spotty signs of a cooling in the broader housing market.

With little excess capacity left in the labor market, we expect continued upward pressure on wages.

With little excess capacity left in the labor market, we expect continued upward pressure on wages.

On net, we'll see some damage and a hit to corporate profits and proprietors' income, but that effect is temporary. read more

On net, we'll see some damage and a hit to corporate profits and proprietors' income, but that effect is temporary. But in the next quarter, we will get some mild stimulus from the rebuilding. Certainly, it will have no major, permanent effect on the economy.