Slalom Client Service Partner Denis Farmer helps clients in the financial services industry win on their most strategic initiatives.
Welcome to the inaugural edition of the quarterly Economic Review. The intent of this publication is raise awareness about some of the key issues and trends in the economy and to encourage debate and discussion.
Each quarter we will provide a National Economic Review, providing key national economic news from the prior quarter. In part 2 of this month’s publication we will also examine what the rules to be written for the financial industry regulations recently passed might indicate about future legislation to come from the next Congress.
We welcome your comments and observations, as the debate is more valuable than the prose on the page!
- Denis & Andrew
Slalom Consultant Andrew Houston is an experienced Finance and Strategy consultant with more than 15 years of experience working with leaders across a broad variety of industries to define and implement solutions to key business issues.
Jobs, jobs, jobs…the October jobs report puts the official national unemployment rate at 9.6%. Celebrated by some was the creation of 151,000 jobs in the month, the first significant increase since the Census inflated job reports of May. Consensus forecasts are for similar numbers in the months ahead. Sounds good doesn’t it?!
Unfortunately, buried in the same jobs report was another ominous record, 1.2 million “discouraged workers”. To be counted as unemployed, you must be looking for a job. If you have grown weary of the job search and decide to just stay home and maybe watch the endless number of Family Guy re-runs available, then you are not counted as “unemployed” but rather as “discouraged”. An improving job market generally draws back these discouraged workers into the ranks of the unemployed. This record pool of discouraged workers could make it difficult to actually decrease the unemployment number, even with moderate Read more of this post