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
Did you know that only 29.7 percent of Americans over the age of 25 have attained a four-year college degree?1 Given many policymakers’ focus on increasing the share of individuals who attain a degree, that may sound like a surprisingly low number. It leaves a large group of American workers who do not have a four-year […] 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
Here’s where Florida ranks among top states for best business climate Florida ranks second among the 50 states for having the best business climate, according to a new survey of U.S. corporate executives released Monday at the International Economic Development Council annual conference. Texas ranked first and Georgia ranked third, followed by South Carolina and […] Read more
Summary of Economic Activity According to reports from businesses across the Sixth District, economic activity expanded at a modest pace from July through mid-August. The outlook among contacts remains optimistic as most expect slow and steady growth over the remainder of the year. Businesses reported continued tightness in the labor market, though wage growth remained […] Read more
While efforts to retrain workforce and grow new businesses are necessary there is a huge gap in our preparation of the workforce of tomorrow. The statistics are crushing. In a time when our entire workforce needs to improve their skills to face the challenges of the new technological age, we are letting skill sets atrophy […] Read more
Personally I’m betting on the “Real Economy”… This week’s Friday Market Insight from Bob Bach at Newmark Grubb Knight Frank. Day of Reckoning? The recent run-up in interest rates – the yield on the benchmark 10-year Treasury note ended Thursday at 2.41%, its highest level since October 27, 2011 – caused a stampede of […] Read more
Energy opportunities like these were not on our radar 10 years ago. And Energy seems to drive nearly everything. Manufacturing didn’t seem to be in our future either… Comeback: Why the US Sits at the Brink of a New Boom In 2005, Charles Morris became convinced that a debt crash was inevitable. In 2006, he […] Read more