Robert Hughes
Senior Research Faculty
Robert Hughes joined AIER in 2013 following more than 25 years in economic and financial markets research on Wall Street. Bob was formerly the head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to BBH, Bob was a Senior Equity Strategist for State Street Global Markets, Senior Economic Strategist with Prudential Equity Group and Senior Economist and Financial Markets Analyst for Citicorp Investment Services. Bob has a MA in economics from Fordham University and a BS in business from Lehigh University.
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Labor-Market Signs Stay Strong Ahead of the BLS Jobs Report
The ADP National Employment Report shows U.S. businesses added 253,000 workers in May. That result follows a revised 174,000 gain in April and makes May the sixth month in the past seven when private payrolls increased by more than 200,000. The ADP figures may not match the data from the national employment report from the…
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First Quarter Real GDP Revised Higher While Consumer Sentiment Holds at a High Level
Revisions to first quarter real GDP show the economy expanded at a 1.2 percent annual rate compared to the initial estimate of 0.7 percent. The major contributors to the upward revision were consumer spending, business investment, and government.
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The Broad Economy Showed Strength in April Though Housing Weakened
The Chicago Fed’s National Activity Index, a weighted average of 85 economic indicators, rose to 0.49 in April following a 0.07 reading in March. For this index, zero represents trend growth in the economy with positive numbers suggesting above-trend growth and negative numbers implying below-trend growth. Using a six-month moving average to smooth out the…
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Broad Gains in Industrial Production Strengthen a Positive Outlook
Industrial production jumped 1.0 percent in April, the largest monthly gain since February 2014. Over the past year, industrial production is up 2.2 percent, the best growth since the year ending in January 2015. Those gains helped push capacity utilization up 0.6 percentage points to 76.7, the highest since August 2015.
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New York Manufacturing Activity Leveled Off in May While National Home Builder Confidence Rose
New data suggest a positive outlook New York manufacturers and home builders across the country.
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Labor Market Continues to Tighten
Low levels of initial claims, a high number of open positions, and rising numbers of workers quitting jobs for new ones all point to a tight labor market.
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April Jobs Report Preview
The monthly jobs report may be the single most important data release for judging the health of the labor market. Last month, the Bureau of Labor Statistics reported the U.S. economy added just 98,000 jobs in March, well below the recent trend of about 200,000 new jobs per month.
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•
Labor-Market Signs Stay Strong Ahead of the BLS Jobs Report
The ADP National Employment Report shows U.S. businesses added 253,000 workers in May. That result follows a revised 174,000 gain in April and makes May the sixth month in the past seven when private payrolls increased by more than 200,000. The ADP figures may not match the data from the national employment report from the…
-
•
First Quarter Real GDP Revised Higher While Consumer Sentiment Holds at a High Level
Revisions to first quarter real GDP show the economy expanded at a 1.2 percent annual rate compared to the initial estimate of 0.7 percent. The major contributors to the upward revision were consumer spending, business investment, and government.
-
•
The Broad Economy Showed Strength in April Though Housing Weakened
The Chicago Fed’s National Activity Index, a weighted average of 85 economic indicators, rose to 0.49 in April following a 0.07 reading in March. For this index, zero represents trend growth in the economy with positive numbers suggesting above-trend growth and negative numbers implying below-trend growth. Using a six-month moving average to smooth out the…
-
•
Broad Gains in Industrial Production Strengthen a Positive Outlook
Industrial production jumped 1.0 percent in April, the largest monthly gain since February 2014. Over the past year, industrial production is up 2.2 percent, the best growth since the year ending in January 2015. Those gains helped push capacity utilization up 0.6 percentage points to 76.7, the highest since August 2015.
-
•
New York Manufacturing Activity Leveled Off in May While National Home Builder Confidence Rose
New data suggest a positive outlook New York manufacturers and home builders across the country.
-
•
Labor Market Continues to Tighten
Low levels of initial claims, a high number of open positions, and rising numbers of workers quitting jobs for new ones all point to a tight labor market.
-
•
April Jobs Report Preview
The monthly jobs report may be the single most important data release for judging the health of the labor market. Last month, the Bureau of Labor Statistics reported the U.S. economy added just 98,000 jobs in March, well below the recent trend of about 200,000 new jobs per month.