This Week in Economic News: November 9 – November 13, 2020
NFIB Small Business Survey
Small Businesses Stay Optimistic Despite High Levels of Uncertainty
- The Small Business Optimism Index for October was unchanged at historically high levels.
- Small businesses continue to look to hire and earn more.
- Small businesses continue to experience higher foot traffic and retail sales ahead of the holiday shopping season.
- More owners expect higher future real sales.
(About the NFIB Small Business Optimism Index: The NFIB Small Business Optimism Index provides an insight into small businesses’ sentiment and economic outlook on labor markets, capital spending, sales, etc.)
Jobs Remain Open as Economy Recovers
- Job openings remain near pre-pandemic levels.
- The private sector gained 169,000 hires despite a decrease in hires in the public sector.
- All sectors saw an increase in quits – a sign that workers are confident in finding better jobs.
(About the JOLTS Report: The JOLTS Report provides a snapshot of labor demand. It reports the amount of job openings, hires, and voluntary/involuntary separations.)
When: Tuesday, November 17, 2020
About Retail Sales: The Census Bureau reports monthly the amount of sales that occurred in retail and food services. This report provides a perspective on the health of the economy as more than two-thirds of the economy is fueled by consumer spending.
NAHB/Wells Fargo Housing Market Index, Housing Starts, Existing Home Sales
When: Tuesday, November 17, 2020; Wednesday, November 18, 2020; and Thursday, November 19, 2020
About the Housing Market Index: The Housing Market Index surveys NAHB members to give a sense of current and future housing market conditions.
About Housing Starts: Housing starts details the amount of new construction of residential buildings.
About Existing Home Sales: Existing home sales measure the amount of sales of previously constructed single-family homes, condos, and co-ops.