Unemployment declined 0.2% to 5.6% in the month of December, with total non-farm employment increasing by 252,000. This caps off a year of consistent job market gains, with total non-farm employment increasing by an average of 246,000 per month in 2014. Additionally, employment growth in October was revised up from 243,000 to 261,000, while employment gains in November were revised upward from 321,000 to 353,000. The full BLS release is available here:
The BEA released the third estimate of Third Quarter GDP on December 23rd. The report showed GDP increasing at a 5.0% annualized rate in the third quarter, which was the largest quarterly percentage increase since 2003. The 5.0% increase represented 1.1% increase over the previous estimate released in November. The year started off on a sour note, with GDP decreasing at 1.4% annualized rate in the first quarter, but the BEA has reported strong growth of 4.6% and 5.0% in the second and third quarters respectively. Combined with the continuing decline in unemployment in 2014, there is much to be thankful for as we ring in the New Year.
Check out the BEA release here:
The VBR/EPR Business Conditions Survey for the third quarter 2014 has been released. For the third quarter in a row most responses said that the state's business outlook was neutral to mildly optimistic, employers continue to have difficulty finding qualified workers and the manufacturing sector continued to be the most optimistic.
Watch EPR's Amanda Wassel discuss the survey online and find broadast times here:
Also read the report here:
The Business Conditions Survey is conducted in partnership between the Vermont Business Roundtable and Economic & Policy Resources. The nine question survey of the 97 members of the Vermont Business Roundtable captures a glimpse of how Vermont business leaders see the state economy. The survey asks business leaders how their businesses have fared in the recent past and how they view the future. Sentiments regarding the current and expected business climate and the expected impact on hiring and investing decisions are also surveyed. Included in the standard survey is a question asking roundtable members for opinions on a current debate in public policy. Along with providing a snapshot of the Vermont business climate, the survey allows Vermonters to see how these markers change over time.
The Livingston Survey which began in 1946 is the oldest continuous survey of economists’ expectations. The Federal Reserve Bank of Philadelphia has released results from the December survey. Bob Chase, senior economist at EPR has been a member of the Livingston Survey since the early 1990s.
Forecasters in the December survey project that the economy’s output (real GDP) will grow at an annual rate of 3.1 percent for the second half of 2014 and output will grow at 2.9 percent in the first half of 2015. Forecasters see the unemployment rate falling next year from 5.7 percent in December 2014 to 5.4 percent in December 2015.
Go to Federal Reserve Bank of Philadelphia for further information and results: http://www.phil.frb.org/research-and-data/real-time-center/livingston-survey/index.cfm
The BLS announced another month of job gains for the United States in November, with nonfarm payroll employment increasing by 321,000. The unemployment rate remained at 5.8%. The number of long term unemployed did not change significantly. In another positive, nonfarm employment for September was revised up from 256,000 to 271,000, and for October was revised up from 214,000 to 243,000. check out the full BLS release here: