Some New Statistics Which Reflect How Well The USA Economy Is Doing.

Just a short post, but reading the papers today, I came across two pieces which I feel are important to read.

The first article appeared in the Wall Street Journal and is entitled "Manufacturer's Good Problems." It suggests that while manufacturers are indeed having supply chain issues and recruiting dilemmas, business is expanding in a big way. Currently The Institute for Supply Management (ISM) based on surveys they do which currently indicate the ISM "index of manufacturing activity" is currently at 60.6, and anything over 50 signals expansion. The consumer is buying!!

The second article appeared in both the New York Times and the NPR blog. This article comes from the Times newspaper today. Both report that U.S. employers added 850,000 workers in June. This suggests strongly that labor is being rehired at a fast pace. That reflects in the hiring issue mentioned above in the first article. But businesses need to keep an eye on the high quit rate I mentioned in a previous post as well as the pay rate they are offering. Currently it appears to be an employee market. The NPR article appears here,

Have a great weekend.

Bob July 2, 2021

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