The winter of 2013/14 was brutal. Construction starts were delayed. Merchandise sat idly at ports. Consumers stayed indoors and local government budgets were hammered by snow removal costs. For roughly three months, forward economic momentum was stymied. According to the Bureau of Economic Analysis, the U.S. economy contracted at a 2.9 percent pace during the year’s initial quarter.
For a time, economists debated whether or not first quarter weakness was attributable to the weather or... [More]
Despite Braking Economy, Housing Moves Ahead
After re-accelerating late last year and during the initial months of 2012, the pace of economic growth and job creation has slowed more recently. In June, national employment expanded by just 80,000 jobs according to the Bureau of Labor Statistics. June represented the third consecutive month during which national job creation was well below 100,000 jobs. During the first three months of the year, the nation's average monthly employment gain was 226,... [More]
Anirban Basu, Chairman & CEO of Sage Policy Group, Inc.
Job creation has picked up in Maryland. After stumbling for much of the previous summer, recent months have been very positive from a job growth perspective. The working hypothesis is that this represents economic multiplier effects related to base realignment activities at Fort George G. Meade in Anne Arundel County and at Aberdeen Proving Ground in Harford County.
Between February 2011 and February 2012, emplo... [More]