Kimberly Cabello
Close observers of the economy this week had to digest a bevy of indicators that provided mixed signals on the state of the labor market. Our takeaway is that the labor market is not too hot, but not too cold. Despite the upside surprise to nonfarm payrolls, the job market is not at risk of overtightening, which would set the stage for wage-push inflation.
In partnership with Accenture, Oxford Economics surveyed 6,000 consumers across 10 countries to better understand their preferences, beliefs, and behaviors toward their online entertainment experiences. Lead researcher, Sundus Alfi, discusses the results of this research with Marketplace, citing customer expectations for a seamless viewing experience.
Consumer spending growth is set to remain robust across the US. With real incomes continuing to rise, spending growth is forecast to average 2.4% this year, which represents a growth premium from the 2023 outturn of 2.2%. Nationally, the labor market remains strong, while strong household balance sheets have helped keep the saving rate low. Real incomes will continue to rise as inflation eases back.
Many states have far more job openings than available labor as per the Job Openings and Labor Turnover Survey (JOLTS) state-level data from the Bureau of Labor Statistics (BLS). Northern US states in particular have a high ratio of job openings per number of unemployed led by North Dakota, South Dakota, Maryland, Vermont, and New Hampshire. These high ratios are indicative of a labor shortage with two or three times as many job openings for every unemployed person in the state. Not surprisingly, these states also have the lowest unemployment rates, all under 3%, yet most also have lower than average job growth rates.
The International Council of Chemical Associations (ICCA) commissioned Oxford Economics to undertake a research program to explore the socio-economic and environmental implications of policy interventions that could be used to reduce plastic pollution, with a focus on a global production cap on primary plastic polymers.
This report demonstrates the integral role that the AV industry plays in Mexico’s economy by estimating the industry’s domestic economic footprint. The analysis comprises all aspects of the audiovisual industry, including film production, distribution, and exhibition; the production, distribution, and broadcast of television content on free-to-air and pay TV channels; and online video platforms. Our estimates provide a recent snapshot of the audiovisual industry, including impacts at the broader industry level and broken out by sub-sector.