Economic Insights – September 2016

The Pouting Pundits of Pessimism, were shocked by the July employment report.  Jobs, wages, and hours all beat expectations and even the labor force showed healthy growth.  The labor force was up 400,000 in July and 2.2 million in the year ending July 31.

They were even more dismayed when the Atlanta Fed crunched its numbers and upped its forecast for third quarter real GDP growth to a 3.8 percent annual rate.    The Atlanta Fed updates its quarterly estimate of GDP as new data arrive.  So, the current forecast for the third quarter in.....