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December 9, 2013
COMMENTARY – by Michael J. Hicks, Ph.D.
A forecast is designed to provide the best possible prediction of economic activity in the future.
Over the next couple weeks I will be travelling to many of Indiana's cities to explain my 2014 economic forecast. I thought this week's column might be a good place to explain the why and how of economic forecasts, along with a sneak peek at next year's predictions.
Read the full text: The Forecasting Season
Last week's commentary: Great Places and the Sweep of Economic Geography
The 18th annual Indiana Economic Outlook is going on the road! Join us in one of eight cities around the state to receive your regional forecast for 2014. CBER director Michael J. Hicks will review the 2013 economic trends and reveal his predictions for the 2014 business climate.
Payment and registration is required in advance. For event details for each location, visit www.bsu.edu/cber/outlook
What is the state of business at your workplace? Complete our brief survey to share your experiences and insight.
Link to survey: http://www.surveymonkey.com/s/ZCMZK2W
DID YOU KNOW? – by Dagney Faulk, Ph.D.
The U.S. unemployment rate for November 2013 was released last week and came in at 7 percent (seasonally adjusted), a decrease from 7.3 percent in October and 7.8 percent a year earlier. The underlying data shows that employment increased by 818,000 persons and unemployment decreased by 365,000 persons between October and November.
The Bureau of Labor Statistics Employment Situation Summary reports that the number of persons employed part time for economic reasons decreased by 313,000 in November (seasonally adjusted). That statistic has been quite variable over the past few months, but the decrease is an indication that part-time workers are moving into full-time positions, at least for the month.
For the Bureau of Labor Statistic's Employment Situation Summary see http://www.bls.gov/news.release/empsit.nr0.htm
ECONOMIC INDICATORS – View all economic indicators (CBER Data Center).
December 12: Retail Sales - country
December 13: Producer Price Index - country
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