The FED Said 2017 Small Business Credit Survey: Report on Disaster-Affected Firms Forty percent of firms in FEMA-designated disaster areas reported losses from recent storms. We examine which firms were hit hardest and how heavily they depend on aid and credit to get back in business. The Small Business Credit Survey (SBCS), an annual survey […] Read more
The FED Said (Federal Reserve System) With U.S. unemployment down to levels not seen since 2000, job seekers are gaining the upper hand in the labor market as employers struggle to fill positions across skill levels. Such hiring difficulties are prompting some employers across the Southeast to raise pay. “We’ve been hearing that wage pressure […] Read more
The FED Said (Federal Reserve System) Overall US Economic Activity Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting moderate or modest growth. The outliers were the Dallas District, which reported strong growth driven in part by the energy sector, and the St. Louis District where […] Read more
The Fed Said The Federal Reserve Bank of Atlanta Across the Southeast, consumer spending is up, and companies continue to have trouble finding qualified workers. Those are some of the findings from the latest Beige Book of economic conditions. Most businesses expect increased activity in the second part of this year despite some uncertainty related to […] Read more
The FED Said (Federal Reserve Atlanta) Residential complexes going up near Atlanta transit stations promote pools, leash-free dog parks, and lifestyles “where urbanity meets savvy simplicity.” If these amenities don’t evoke the gritty utility often associated with public transportation, they’ve achieved their desired effect. The Metropolitan Atlanta Rapid Transit Authority (MARTA) is at the forefront […] Read more
The FED Said Once upon a time, tariffs—the fees levied on imported goods—were revenue-raising instruments for the federal government as much as protection for fledgling American industries. Hefty tariffs were the U.S. government’s primary source of revenue from 1790 to 1914, pointed out Federico Mandelman, an Atlanta Fed research economist. Put simply, in the 1800s, America […] Read more
The FED Said Where a public housing project once stood on the western fringe of downtown Atlanta, a garden grows. Each year, the three-acre patch produces 35,000 pounds of kale, broccoli, collards, tomatoes, and other produce for four farmers markets and other local outlets. The Truly Living Well Center for Natural Urban Agriculture is a staple in […] Read more
The FED Said A sleek housing complex is rising in Chamblee, Georgia. Nothing new there. Nearly 1,000 apartment and condominium buildings have been permitted in the past five years in metropolitan Atlanta, according to the U.S. Census Bureau. But the one in Chamblee is unusual. The Senior Residences at Mercy Park is a collaboration between […] Read more
Federal Reserve Bank of Atlanta Summary of Economic Activity Aside from hurricane effects, Sixth District business contacts described economic conditions as improving at a modest pace from mid-August through September. The outlook among firms remained optimistic with the majority of contacts expecting growth to be slightly above current levels for the remainder of the year. […] Read more
This fall, college seniors across the U.S. are making a choice that will shape the rest of their lives: which career to pursue after graduation. It’s a breathtakingly complex decision, involving trade-offs among prestige, job security, quality of work life, and compensation. Yet these career choices affect not only the students themselves but also the rest […] Read more
According to the Current Employment Statistics payroll survey, seasonally adjusted nonfarm payroll employment declined 33,000 in September. This decline was the first drop in employment since 2010 and followed a 169,000 gain in August. At the same time, seasonally adjusted average hourly earnings in the private sector increased 2.9 percent year over year in September. This […] Read more
Office Renovations Take Off Many U.S. cities have seen the return of construction cranes in recent years. However, unlike in previous building booms, residential towers have dominated new construction. So far, new office construction has not yet reached its prerecession level. On the other hand, cities across the nation are bustling with office renovations. Could […] Read more
The Great Recession Drastically Changed the Skills Employers Want The employment shift from occupations that require mid-level skills toward those at the high and low ends is one of the most important trends in the U.S. labor market over the past 30 years. Previous research has suggested that a primary driver of this job polarization […] Read more
Did Harvey Influence the Housing Market? The August housing and construction data are starting to trickle in. So far, the data tell us that residential investment could be a drag on third-quarter gross domestic product growth. They also tell us that U.S. existing home sales were down slightly (-1.65 percent) from the month-earlier level but flat […] Read more
Equifax, the Credit Reporting Industry, and What Congress Should Do Next Even for the experts, the recent data breach at Equifax was staggering. The data that undergirds the credit records of 143 million consumers was compromised. Social Security numbers, dates of birth, and drivers’ license records are used to authenticate identity. It is not difficult […] Read more