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Two measures suggest different gaps between the current strength in the labor market and what a more sustainable level would be. This analysis finds that the rate of job openings has been more in line with its historical relationship to the hires rate than its relationship to the unemployment rate.
Nine economic facts about the service sector illustrate recent trends in spending, employment, and inflation as the country continues to rebalance.
Defying expectations, the business sector appears to have weathered the COVID pandemic and found a renewed gear of dynamism in the process. This analysis looks at the outcomes of initial business closings, employment impacts, new business formations, and restructuring of business activities.
In this analysis we offer inflation-related updates to Chapter 1 of Recession Remedies: Lessons Learned from the U.S. Economic Policy Response to COVID-19, highlighting that the service sector has replaced goods as the primary driver of inflationary pressure in recent months, and that the continued rise in inflation has led to further declines in real wages in aggregate.
A Hamilton Project analysis on how household balance sheets have evolved since the onset of the COVID-19 pandemic finds that, in aggregate, households’ financial positions in 2022 are remarkedly improved relative to 2019.
In these Economic Facts, the Hamilton Project reviews recent economic data to provide context for assessing the state of the economic recovery and highlight areas that remain short of a return to normal.
Stephanie Aaronson, Mitchell Barnes, and Wendy Edelberg discuss the benefits and potential limitations of promoting a tight labor market to eliminate racial and ethnic disparities in unemployment rates.
In a new framing paper, Mitchell Barnes, Lauren Bauer, Wendy Edelberg, Sara Estep, Robert Greenstein, and Moriah Macklin examine the U.S. social insurance system. They consider the social insurance system as a whole as well as its component parts, providing an overview of major federal programs in the areas of education and workforce development, health, income support, nutrition, and housing opportunity.
In a new blog, Mitchell Barnes, Mark Booth, Wendy Edelberg, and Sara Estep analyze data from the Daily Treasury Statements and examine the impact of the recession on households and business owners across the income distribution.