Author Blog & Press

Tight Labor Market Reinforces Recruiting Difficulties

KEY DATA: ADP: +153,000; Small (1-19): -3,000; Manufacturing: -9,000/ Layoffs: 33,627/ Claims: -28,000 IN A NUTSHELL: “The tight labor market is making it hard to find workers, so firms are holding onto their current employees tightly.” WHAT IT MEANS: Tomorrow is employment Friday and it looks like job gains will be close to the consensus of about 180,000. The … [Read more]

November Employment Report

KEY DATA: Payrolls: 178,000; Private: 156,000; Revisions: -2,000; Unemployment Rate: 4.6% (down 0.3 percentage point) IN A NUTSHELL: “With job growth as high as can be expected given the lack of workers and the unemployment rate near full employment, there is little reason for the Fed not to raise rates.” WHAT IT MEANS: If it is all about jobs, and it is supposed … [Read more]

Rising Incomes & Consumer Spending: What is There to Complain About?

KEY DATA: Spending: +0.3%; Income: +0.6%/ Pending Sales: +0.1%/ ADP Jobs: +216,000/ HWOL: -115,300 IN A NUTSHELL: “Consumers are spending, incomes are rising and it looks like job growth is solid, so what is there to complain about?” WHAT IT MEANS: Fourth quarter data are starting to dribble in and they indicate the economic momentum that started in the summer has … [Read more]

Tightening Job Market Showing Up In Higher Wages

INDICATOR: October Employment Report and September Trade Deficit KEY DATA: Payrolls: +161,000; Private: 142,000; Revisions: +44,000; Unemployment Rate: 4.9% (down 0.1 percentage point); Wages: +0.4%/ Trade Deficit: $36.4 billion ($4 billion narrower) IN A NUTSHELL: “The tightening job market is finally showing up in higher wages, which should make Janet Yellen and … [Read more]

Moderate Job Gains, Tight but Stable Labor Market

KEY DATA: ADP: +147,00; Construction: -15,000/ HWOL: -93,800 IN A NUTSHELL: “Moderate job gains and softening demand point to a tight but stable labor market.” WHAT IT MEANS: Workers and the Fed Chair have been waiting for the time when the labor market gets so tight that firms have not choice but to raise rates faster. That time may not be here just yet as job … [Read more]

Economic Rebound: Third Quarter GDP and Employment Costs

KEY DATA: GDP: +2.9%; Consumption: +2.1%; Consumer Prices: +1.4%/ ECI (Over Year): +2.3%; Wages: +2.4% IN A NUTSHELL: “After three tepid quarters of growth, the economy was due for a rebound and it got it.” WHAT IT MEANS: The economy continues to plod along. Growth expanded solidly in the third quarter. While some may say that 2.9% is nothing special, given … [Read more]

Full Employment Could Be Near: September Jobs Report

KEY DATA: Payrolls: 156,000; Private: 167,000; Unemployment Rate: 5% (up 0.1 percentage point) IN A NUTSHELL: “A lack of qualified applicants is limiting hiring while growing job openings are bringing people back into the market, all signs of a labor market near full employment” WHAT IT MEANS: If Fed members were hoping for a strong September jobs number, they … [Read more]

Is There a Lack of Available Workers in the Labor Market?

KEY DATA: Layoffs (Over Month): +37.7%; Over Year: -24.7%/ Claims: -5,000 IN A NUTSHELL: “If the September jobs report is lacking, the lack of available workers in the labor market may be the major reason.” WHAT IT MEANS: Tomorrow is Employment Friday and today’s data point to a tightening labor market. Whether that shows up in the September data is another … [Read more]

August Spending and September Consumer Confidence

KEY DATA: Spending: 0%; Income: +0.2%; Prices: +0.1%; Excluding Food and Energy: +0.2%/ Confidence: +1.4 points IN A NUTSHELL: “With incomes still growing slowly, consumers are not overly excited about things so they are not going out and shopping ‘till they drop.” WHAT IT MEANS: If consumers are driving the economy, they seem to be stuck in traffic. Household … [Read more]

July Job Openings, Hires, Layoffs and Quits

KEY DATA: Openings: +228,000; Hires: +55,000; Layoffs: -27,000; Quits: +1,000 IN A NUTSHELL: “With job openings running well above hiring, we should see continued solid job gains in the future.” WHAT IT MEANS: The August employment report was less than hoped for, though as I noted, about as good as could be expected given the outsized increases in June and July. … [Read more]

August Employment Situation and July Trade Deficit

KEY DATA: Jobs: 151,000; Private Sector: 126,000; Unemployment Rate; 4.9% (unchanged); Hourly wages: +0.1%/ Trade Deficit: $5.2 billion narrower IN A NUTSHELL: “Given how robust job gains were in June and July, the August increase was quite decent, but the slower rise hung the Fed out to dry.” WHAT IT MEANS: If Janet Yellen and her merry band of terrified rate … [Read more]

Weekly Jobless Claims

IN A NUTSHELL: “Businesses are investing again and given that capital spending was the weakest link in the last GDP report, third quarter growth could be really strong.” WHAT IT MEANS: Another day, another day of pretty good data. Business investment reduced growth in the spring by 1.7 percentage points. Much of that came from a reduction in inventories, but … [Read more]

July Employment Report and June Trade Deficit

KEY DATA: Payrolls: 255,000; Private: 217,000; Unemployment Rate: 4.9% (Unchanged); Wages: +0.3%/ Trade Deficit: $44.5 billion ($3.6 billion wider) IN A NUTSHELL: “Dear Fed: Wake up and smell the job growth.” WHAT IT MEANS: Maybe it’s not morning in America, but the coffee is brewing and jobs are being created. After one poor employment report, the consensus … [Read more]

Economy Continuing to Grow Modestly

KEY DATA: ADP Jobs: 179,000/ ISM (NonManufacturing): -1 point; Orders: +0.4 point; Hiring: -1.3 points/ HWOL: +156,800 IN A NUTSHELL: “The July data are pretty decent, but we still have the big-dog, the employment report, on Friday.” WHAT IT MEANS: It looks like the economy is continuing to grow moderately, despite what Fed members and skittish investors may … [Read more]

Second Quarter GDP and Employment Costs

KEY DATA: GDP: +1.2%; Consumption: +4.2%; Private Investment: -9.7%; Consumer Inflation: +1.9%/ ECI (Over Year): +2.3%; Wages: +2.5% IN A NUTSHELL: “The consumer is spending, but the failure of the corporate sector to invest is restraining growth.” WHAT IT MEANS: The economy is moribund – maybe. Second quarter growth was well below expectations, but the details … [Read more]

May Job Openings and Hires and June Small Business Optimism

KEY DATA: Openings: -345,000; Hires: -49,000; Quits: -14,000/ NFIB: +0.7 point; Hiring: -1 point; Openings: +2 points IN A NUTSHELL: “Weakening job openings are not a good sign, though if the June employment report is any indication, the spring slump may be over.” WHAT IT MEANS: Chair Yellen likes to follow the JOLTS report, which provides data on job openings, … [Read more]

June Employment Report

KEY DATA: Payrolls: +287,000; Revisions: -6,000; Wages: +0.1%; Unemployment Rate: 4.9% (up from 4.7%) IN A NUTSHELL: “Faltering labor market, what faltering labor market?” WHAT IT MEANS: As it is said about the weather, so it should be said about some of the economic data: If you don’t like it, wait a minute (or a month). After the May jobs numbers came in, … [Read more]

June Private Sector Jobs, Layoffs and Weekly Jobless Claims

KEY DATA: ADP Jobs: 172,000; Small: 95,000; Small: 25,000/ Layoffs: 38,536/ Claims: Down 16,000 IN A NUTSHELL: “The only thing that seems to be holding back the labor market is skittishness on the part of large corporate CEOs.” WHAT IT MEANS: Tomorrow is the “all-important” employment report and after the May debacle, we could really use a good one. That could … [Read more]

May Consumer Spending and Income

KEY DATA: Consumption: +0.4%; Disposable Income: +0.2%; Prices: +0.2%/ Pending Sales: -3.7% IN A NUTSHELL: “The consumer is back spending and that should lead to solid second quarter growth.” WHAT IT MEANS: You can talk about Brexit and the Fed all you like, but what really matters is how much households spend and it looks like they are shopping ‘till they’re … [Read more]

June Consumer Confidence

KEY DATA: Confidence: +5.6 points: GDP: +1.1% (up from 0.8%); National Home Prices: +0.1%; Year-over-Year: +5% IN A NUTSHELL: “When the dust settles on Brexit, it will be consumer spending that will determine the course of the U.S. economy and we need to wait a while before we know what consumers are thinking.” WHAT IT MEANS: The news is all about Brexit and … [Read more]

April Job Openings, Hires and Quits

KEY DATA: Openings: +118,000; Hires: -198,000; Quits: -36,000 IN A NUTSHELL: “Hiring may be slowing, but it is not because the need for workers is declining.” WHAT IT MEANS: We have had two consecutive disappointing payroll numbers and it is unclear if that is due to a lack of demand or a lack of supply. The April Job Openings, Layoffs and Terminations (JOLTS) … [Read more]

May Jobs Report

KEY DATA: Payrolls: +38,000; Revisions: -59,000; Private Sector: 25,000; Unemployment Rate: 4.7% (down from 5%); Wages: +0.2%/ ISM (Non-Man.): -2.8 points/ Deficit: +$1.9 billion IN A NUTSHELL: “Take a deep breath, breathe slowly and don’t panic - yet.” WHAT IT MEANS: Huh? Has the economy really stopped creating jobs? Looking at the headline employment number, you … [Read more]

April Leading Indicators, May Philadelphia Fed Survey and Weekly Jobless Claims

KEY DATA: LEI: +0.6%; Phil. Fed: -0.2 point; Claims: down 16,000 IN A NUTSHELL: “It looks like the economy is picking up steam, just in time for the Fed’s next meeting in June.” WHAT IT MEANS: Yesterday’s surprise comment in the April FOMC minutes that “Most participants judged that if incoming data were consistent with economic growth picking up in the second … [Read more]

April Jobs Report

KEY DATA: Payrolls: +160,000; Private: 171,000; Unemployment Rate: 5% (unchanged); Wages: +0.3% IN A NUTSHELL: “Job growth is not too hot, not too cold but not just right.” WHAT IT MEANS: The economy has grown by just over a 1% annualized growth rate during the past six months, but job gains during that time frame were strong – probably stronger than would be … [Read more]

Layoffs, Jobless Claims, April Jobs, Productivity and Help Wanted Online

KEY DATA: Layoffs: 65,141/ Claims: up 17,000/ ADP Jobs: 156,000; Productivity: -1%; Labor Costs +4.1%/ Help Wanted: +39,000 IN A NUTSHELL:</strong< “The labor market is tight, but the tightening process may be slowing.” WHAT IT MEANS: If Janet Yellen is laser-focused on the labor market, the data released over the past two days don’t indicate that … [Read more]

First Quarter GDP and Weekly Jobless Claims

KEY DATA: GDP: +0.5%; Consumption: +1.9%; Income: +2.9%; Core Consumer Inflation: +2.1%/ Claims: +9,000 IN A NUTSHELL: “The economy eked out a gain in the first quarter but with incomes rising solidly, we should see better growth in the quarters to come.” WHAT IT MEANS: Phew! We dodged the negative bullet. Whoopee! Okay, a growth rate of less than one percent … [Read more]

FOMC Meeting – April 26-27, 2016

In a Nutshell: “Moderating economic growth and consumer spending keep the Fed on hold.” Rate Decision: Fed funds rate range maintained at 0.25% and 0.50% The FOMC members came, they talked, and they didn’t do much other than signal that they will continue to do not much for a while. Going into the latest Fed gathering, there was some uncertainty over what the … [Read more]

March Leading Indicators and Weekly Jobless Claims

KEY DATA: Leading Indicators: +0.2%/ Phila. Fed: -14 points: Expectations: +13.8 points/ Claims: down 6,000 IN A NUTSHELL: “The economy is continuing to expand slowly and the labor market is tightening, but the manufacturing sector remains weak.” WHAT IT MEANS: Next week the Fed meets and will evaluate what is going on. So, what is going on? Not much. The … [Read more]

March Employment Trends and February Factory Orders

KEY DATA: Trends Index: -1.06 points; Orders: -1.7%; Durables: -3% IN A NUTSHELL: “Job gains have been holding up but unless growth improves, the monthly payroll increases could slow as we move toward the summer.” WHAT IT MEANS: With Fed Chair Yellen focusing more on wage pressures rather than the domestic economy, which she thinks is good, the labor market data … [Read more]

March Private Sector Jobs and Help Wanted Online

KEY DATA: ADP: 200,000/ Online Ads: -31,500 IN A NUTSHELL: “Businesses may be buying ads less but they are enjoying it more as hiring remains strong.” WHAT IT MEANS: It’s Employment Friday week and that means the ADP estimate of private sector job gains comes out on Wednesday. Once again, the ADP report is pointing to a solid rise in nonfarm payrolls when the … [Read more]

February Consumer Spending, Income and Pending Home Sales

KEY DATA: Consumption: +0.1%; Disposable Income: +0.2%; Prices: -0.1%; Excluding Food and Energy: +0.1%/ Pending Sales: +3.5% IN A NUTSHELL: “Despite having the money to spend, households seem to be dispensing it using an eye-dropper.” WHAT IT MEANS: To spend or not to spend, that is the question and it doesn’t seem that consumers are coming down on the side of … [Read more]

January Job Openings and February Leading Indicators

KEY DATA: Openings: +260,000; LEI: +0.1%; Phil. Fed: +15.2 points; Claims: +7,000 IN A NUTSHELL: “The economic data are firming up and while the Fed appears worried about growth, it has nothing to do with the U.S. economy.” WHAT IT MEANS: Janet Yellen believes that the lack of wage growth is a sign there is still some slack in the labor market. There may be some … [Read more]

February Employment Report

KEY DATA: Payrolls: +242,000; Private Sector: +230,000; Manufacturing: -16,000; Mining: -19,000; Hourly Earnings: -0.1%; Unemployment Rate: 4.9% (Unchanged); IN A NUTSHELL: “When the job market and the GDP numbers diverge, go with the employment numbers.” WHAT IT MEANS: Some politicians, economists and business commentators still believe the economy is going into … [Read more]

February ADP Jobs Estimate and Help Wanted Online

KEY DATA: ADP: +214,000; HWOL: -162,100 IN A NUTSHELL: “It looks like the labor market is still tightening, though the softening in online want ads is a cautionary sign.” WHAT IT MEANS: Friday we get the February employment report and with signs showing the economy is once again growing decently, the labor market is again the key factor in any future rate hikes. … [Read more]

January Spending and Income

KEY DATA: Spending: +0.5%; Income: +0.5%: Prices: +0.1%/ Confidence: -0.3%/ GDP+ 1% (Up from 0.7%) IN A NUTSHELL: “With consumers spending, incomes growing and confidence stable, it is hard to understand why we are seeing all those stories about a recession on the horizon.” WHAT IT MEANS: “The recession is coming, the recession is coming” – Really? While I may … [Read more]

Economy’s Weakest Link is Not That Weak

KEY DATA: Durables: +4.9%; Excluding Aircraft: 1.7%; Capital Spending: 3.9%/ Claims: +10,000 IN A NUTSHELL: “The broadly based rise in demand for big-ticket items is a sign that manufacturing sector is starting to stabilize.” WHAT IT MEANS: The weakest link may still be the weakest link, but it may not be that weak anymore. The manufacturing sector, battered by … [Read more]

January Consumer Prices and Real Earnings

KEY DATA: CPI: 0%; Year-over-Year: +1.4%; Excluding Energy: +0.3%; Year-over-Year: +2%/ Real Hourly Earnings: +0.4%; Real Weekly Earnings: 0.7% IN A NUTSHELL: “Inflation may not be high, but it is clearly rising, and that is something the Fed will be watching closely.” WHAT IT MEANS: Energy has dominated the discussion as the large declines brought smiles to … [Read more]

December Job Openings and January Small Business Optimism

KEY DATA: Openings: +261,000; Quits: +196,000/ Small Business Optimism: -1.3 points IN A NUTSHELL: “If the labor market is tightening, can the economy really be faltering?” WHAT IT MEANS: The stock market continues to gyrate wildly, but we can still take hope from the simple fact that we haven’t seen the real economy mirror the financial economy. The latest … [Read more]

January Employment Report and December Trade Deficit

KEY DATA: Payrolls: +151,000; Manufacturing: +29,000; Unemployment Rate: 4.9% (down 0.1 percentage point); Hourly Wages: +0.5%/ Trade Deficit: $1.1 billion wider IN A NUTSHELL: “No, the sky is not falling and the labor market is not weakening as the details of the employment report were just fine.” WHAT IT MEANS: Right after the January employment report was … [Read more]

Fourth Quarter Productivity, January Layoffs and Weekly Jobless Claims

KEY DATA: Productivity: -3%; Labor Costs: +4.5%/ Layoffs: 75,114; Jobless Claims: +8,000 IN A NUTSHELL: “It appears that businesses are hiring more but enjoying it less as hours worked were up and worker output down.” WHAT IT MEANS: When it comes to controlling expenses, it is never good when your labor costs rise a lot faster than your production and that is … [Read more]

January NonManufacturing Activity, Private Sector Jobs and Help Wanted Online

KEY DATA: ISM (NonManufacturing): -2.3 points; Orders: -2.4 points; Hiring: -4.2 points/ ADP Jobs: +205,000/ Online Ads: +13,500 IN A NUTSHELL: “The new year hasn’t started off with a bang, but more like a whimper.” WHAT IT MEANS: The first data for 2016 are trickling in and while the economy continues to expand, there are no signs it is accelerating. The … [Read more]

Fourth Quarter 2015 GDP and Employment Costs

KEY DATA: GDP: +0.7%; 2015: +2.4%; Private Domestic Spending: +1.8%; Consumption: +2.2%; Consumer Prices: +0.1%/ ECI (Year-over-Year): +2.0%; Wages and Salaries: +2.1%; Benefits: +1.7% IN A NUTSHELL: “The warm winter and low energy prices hurt growth at the end of last year and that helped keep inflation and worker compensation costs down.” WHAT IT MEANS: Boy did … [Read more]

4th Quarter Workforce Vitality

KEY DATA: Sales: +10.8%; Year-over-Year: +14.5%; Prices (Year-over-Year): -4.3%/ Workforce Vitality (Year-over-Year): +4% IN A NUTSHELL: “It was a great year for housing and workers didn’t do that badly either.” WHAT IT MEANS: Looking at the two feet of snow in my backyard makes it hard to remember the December record warm weather, but today’s new home sales … [Read more]

January Consumer Confidence

KEY DATA: Confidence: +1.8 points; Philadelphia Fed NonManufacturing Index: -21.6 points; Case-Shiller Home Prices (Year-over-Year): +5.3% IN A NUTSHELL: “The stock market is falling and with it business confidence, but to households, it’s full speed ahead.” WHAT IT MEANS: I remarked last week that Wall Street and Main Street were operating in parallel universes … [Read more]

December Employment Report

With the 2016 Global Best Practices Conference only 10 days away, this month’s jobs report sets the stage for all of our conversations about the heating labor market, and implications for operators and consumers. Joel Naroff, TDn2K-retained economist, opines here on the implications. He will be also be presenting on Monday, January 18th, along with our TDn2K team of … [Read more]

December ADP Jobs and November Trade Deficit

KEY DATA: ADP Jobs: +257,000/ ISM (NonManufacturing): -0.6 point/ HWOL: -276,800/ Trade Deficit: down $2.2 billion IN A NUTSHELL: “The markets may be worrying about China but investors have little cause to be concerned about the U.S. economy.” WHAT IT MEANS: Tons of data were released today and they generally told a similar story: The U.S economy is just fine. … [Read more]

Pumping Up the Positive Consumer Attitude

KEY DATA: Confidence: +3.9 points; Home Prices (Monthly): +0.9%; Year-over-Year: +5.2% IN A NUTSHELL: “Consumers are feeling a lot better about things and rising home prices are helping.” WHAT IT MEANS: It looks like it was a pretty good holiday shopping season and if so, it is because people are feeling good about their job situation. The Conference Board’s … [Read more]

December Consumer Confidence

KEY DATA: Spending: +0.3%; Income: +0.3%; Prices: 0%/ Orders: 0%; Capital Spending: -0.4%/ Home Sales: +4.3%/ Confidence: +1.3 points IN A NUTSHELL: “Today’s data dump points to an economy moving forward but not with any great commitment.” WHAT IT MEANS: It’s two days before Christmas and all through the data mills, the numbers are being released before the … [Read more]

November Leading Indicators and Weekly Jobless Claims

KEY DATA: LEI: +0.4%/ Phila. Fed: -7.8 points/ Claims: down 11,000 IN A NUTSHELL: “Except for the manufacturing sector, the economy is in good shape, but that is a significant 'but.'” WHAT IT MEANS: With the rate hike behind us, it is time to start focusing on the economy and inflation. Inflation outside the energy sector is slowly accelerating, a reality the … [Read more]

FOMC Meeting — December 15-16, 2015

In a Nutshell: “That’s one small step for the Fed, one giant step toward normal financial markets.” Rate Decision: Fed funds rate range increased to between 0.25% and 0.50% Well, they finally did it. After hinting and backing off, the FOMC raised the fed funds target range by one-quarter percent. This is the first move of any type since December 16, 2008, when the 0% … [Read more]

November Retail Sales and Wholesale Prices

KEY DATA: Retail Sales: +0.2%; Excluding Vehicles: +0.4%; Control: +0.6%/ PPI: +0.3%; Goods: -0.1%; Goods Less Food and Energy: -0.1%; Services: +0.5% IN A NUTSHELL: “The consumer appears to be in a shopping mood and that is good news for the economy and the Fed.” WHAT IT MEANS: We may not be shopping ‘till we drop, but we are out there spending money. Retail sales … [Read more]

November Supply Managers’ Non-Manufacturing Survey, Layoff Announcements and Weekly Jobless Claims

KEY DATA: ISM (NonManufacturing): -3.2 points; Orders: -4.5 points; Hiring: -4.2 points/ Layoffs: 30,953/ Claims: +9,000 IN A NUTSHELL: “The services sector continues to expand solidly, though not as robustly as it had been.” WHAT IT MEANS: With the Fed sending loud and clear messages that a rate hike is just days away, it will take some pretty bad economic … [Read more]

November ADP Private Sector Jobs, Help Wanted Online and Revised 3rd Quarter Productivity

KEY DATA: ADP: +217,000/ HWOL: +232,000/ Productivity: 2.2%; Compensation: 4% IN A NUTSHELL: “If Friday’s job gains come in anywhere near what ADP thinks they will, then a December rate hike becomes a slam dunk.” WHAT IT MEANS: With more and more Fed members sending strong signals that a rate increase in December is likely, the only things that could prevent that from … [Read more]

Revised 3rd Quarter GDP, Housing Prices, Consumer Confidence and Philadelphia Fed NonManufacturing Index

KEY DATA: GDP: 2.1% (up from 1.5%)/ S&P Home Prices (Year-over-Year): 4.9%/ Confidence: -8.7 points/ Philadelphia Fed: up 8.8 points IN A NUTSHELL: “The economy is growing at its potential and home prices are accelerating, so why all the long faces?” WHAT IT MEANS: With terror being on everyone’s minds, it is hard to focus strictly on the economic data, but we must … [Read more]

October Income and Spending, Durable Goods Orders, New Home Sales and Jobless Claims

KEY DATA: Consumption: 0%; Income: +0.4%/ Durables: +3%; Excluding Aircraft: 0%; Capital Spending: +1.3%; New Homes: +10.7%/ Jobless Claims: -12,000 IN A NUTSHELL: “The economy is hardly a turkey so the Fed, which is fed up with low rates, will likely tighten the economy’s belt a little next month.” WHAT IT MEANS: The day before Thanksgiving is when everyone dumps … [Read more]

September Job Openings, Hires, Layoffs and Weekly Jobless Claims

KEY DATA: Openings: +149,000; Hires: -32,000; Layoffs: -47,000; Quits: -51,000/ Claims: unchanged IN A NUTSHELL: “Firms are still willing to look for people but unwilling to hire them.” WHAT IT MEANS: Last week’s strong employment report put to rest the idea that the job market was softening. The three-month average may be below the 2014 average, but it is similar … [Read more]

October Employment Report

IN A NUTSHELL:“Remember those stories about job growth faltering? Well, never mind!” KEY DATA: Payrolls: 271,000; Revisions: +12,000; Private: 268,000; Unemployment Rate: 5% (down from 5.1%) WHAT IT MEANS: Yesterday I noted that the August and September payroll increases seemed a little “light” and thus job gains could be better than forecast. However, I didn’t … [Read more]

[Part 2] Tips from the Top: A Conversation with Economic Expert Joel Naroff

TDn2K’s “State of the Industry” quarterly member webinars feature a special industry guest to share their insights and prediction about the restaurant industry. Today, our Q2 webinar, we were lucky to have economic expert Joel Naroff share his insights. Joel L. Naroff is President and Chief Economist at Naroff Economic Advisors; a strategic economic consulting firm that … [Read more]

Tips from the Top: A Conversation with Economic Expert Joel Naroff

TDn2K’s “State of the Industry” quarterly member webinars feature a special industry guest to share their insights and prediction about the restaurant industry. On July 16th our Q2 webinar will be joined by Joel L. Naroff, President and Chief Economist at Naroff Economic Advisors; a strategic economic consulting firm that advises corporations and financial institutions on … [Read more]

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