Council Director and Senior Economist
Discussions of the slow U.S. jobs rebound often overlook the vital issues of entrepreneurial dynamism and the health of the small business sector. These are critical omissions. Research supports the importance of new businesses for employment recovery and employment expansion. Further, the health of the small business sector is well known to be...
Council Director and Senior Economist
In a disturbing report, the Federal Reserve announced that U.S. industrial production (manufacturing, mining, and utilities) contracted by 0.6 percent after strong gains in February and March.
The manufacturing picture, which constitutes the lion’s share of industrial output, is bleaker. U.S. factory production declined by 0.4 percent in April...