The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
Well, It's Not Any Worse
Words from our youth sports coaches tend to linger. In my case, it's going on 35 years. I had a devil of a time going to my left as a junior high school basketball player. I just couldn't control the ball, let alone nail a pull-up J or make a layup (mainly because I usually lost the ball before I got near the hoop). Anyway, I practiced as much as a 12-year old can practice. I thought I had made some progress during the off-season. Next season at tryouts, my coach asked if I had worked on my left. Eagerly I said I had. I remember what happened next like it was yesterday. I dribbled in from the left, bobbled the ball, and shot a brick. Didn't even hit the rim. Coach said, "Well, at least you're not any worse. Next!"
Not being worse is not where anyone wants to be, especially when the current situation is not good. Not unlike where the region's labor markets currently stand. After making some progress from its peak in 2012, the total number of unemployed stabilized then fell steadily through the first months of 2012. Progress stalled, then went into reverse some in May and June.
July data will be released at the end of this week. Based on data already available for July, we would be surprised if the total number of unemployed in the region increased. Initial unemployment claims data for July show a bit of a decline for the six states in the region, which may portend a small improvement in the overall unemployment picture.
As we noted in our August 8 SouthPoint post, the region's unemployment rate rose in June, and our business contacts appeared to be making only very modest hiring plans. At the very least, our anecdotal information leads us to think that overall regional labor markets probably didn't get any worse in July.
P.S. I still can't go to my left, but my son sure can. He's left-handed. Can't go to his right, though.
By Mike Chriszt, a vice president in the Atlanta Fed's research department
TrackBack URL for this entry:
Listed below are links to blogs that reference Well, It's Not Any Worse:
- Southeast PMI Surges in February
- Tiny Bubbles in Alabama
- Through the Eyes of a Big Fan
- Southeastern Manufacturing Sees No Shadow
- Southeastern Labor Market Continues Strengthening
- A New Year, a Better Economy?
- Florida's Economic Rebound Continues
- Charting Employer Sentiment in the Southeast
- O Manufacturing, Is Winter Thy Enemy?
- New Orleans Area Optimistic Heading into 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax