Issue #10 | December 19, 2017
Recently, from the Cleveland Fed
They’re small and play a big role
Some 90 percent of firms and about 34.9 million jobs in the United States are attributable to microbusinesses, or companies that employ fewer than 5 people. These small firms provide important economic opportunities for women and minority business owners, but relatively little is known about their performance and financing needs. See our recent report on microbusinesses.
Does an increase in the population of foreign-born workers cause native-born workers to leave?
Federal Reserve researchers find a small increase in the probability of a worker’s dropping out of the labor force or moving to another state in response to an increase of foreign-born workers. Dive deeper in the Economic Commentary.
For the Toledo metro area, there’s a troubling stat for consumer credit amid some bright spots for the economy
For three quarters straight in 2017, the Toledo area’s credit card delinquency rate has risen, most recently by 0.2 percentage points. Explains a Cleveland Fed economist, “The fact that the metro area’s rate is rising shows that some metro area households are having difficulty paying their bills.” Explore more insights, including bright spots for the metro area.
Columbus area unemployment rate increases, but hiring trends remain strong
Despite an uptick in its jobless rate in a recent month, the Columbus metro area saw its employment grow more than twice as fast as Ohio’s overall employment did in the 12 months ending in March 2017. Curious which job sectors contributed to the region’s 2 percent employment growth? Read the Metro Mix.
Cleveland Fed researchers find little evidence that inflation dynamics have changed
With inflation’s declining this year despite a number of factors that would normally be expected to raise inflation—such as a low and falling unemployment rate and a depreciating dollar—some economists have raised questions about whether inflation dynamics have changed because of globalization or the rise of internet retailing. A new study from the Cleveland Fed finds little evidence of such changes since the late 1990s, however. Read the Economic Commentary.
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