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Research, analysis and current events for the credit union system.

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Economy

A slower pace of job gains

Today’s Labour Force Survey data shows that job gains were modest and below expectations after a rebound in employment following the Omicron wave. Nevertheless, the unemployment rate reached a new record low of 5.2%. These are the signs of a mature labour market where most of the post-pandemic adjustment has already happened.

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Economy

Strong economic momentum going into the rate hikes

Today’s release of the GDP for February shows that the hit to the economy from the Omicron wave was minor and short-lived. The data shows that the economy had significant momentum going into the second quarter of 2022, with growth estimated at 5.6% q-o-q ar. in the first quarter.

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Economy

The great consumer squeeze

Various shocks are squeezing household budgets this year. As a result, many households may need to cut down on spending or draw from their savings.

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