A slowing economy means investors should get used to relatively subdued employment numbers, says Morningstar’s Bob Johnson.
Morningstar's Bob Johnson thinks weakness in retail and restaurants plus slow GDP growth could torpedo September's employment number.
Contrary to the popular view, we believe the data this week showed a stable if not weakening economy.
With manufacturing and housing not providing much help, economic growth rests largely on the shoulders of consumer spending, says Morningstar's Bob Johnson.
With no obvious drivers set to replace former highfliers of the economy like shale oil and auto production, investors should be prepared for a long period of anemic growth.
The Fed may well raise rates in December, but the slowing of the real economy is the bigger story for investors, says Morningstar’s Bob Johnson.
A minuscule cost-of-living adjustment will likely come despite healthcare inflation that continues to re-accelerate with a vengeance.
A rise in rates would have a large impact on the housing market and could also take a bite out of asset prices, says Morningstar's Bob Johnson.
Slower overall employment growth, shrinking hours worked, and possible labor shortages could paint a relatively bleak picture.
Auto sales drove strong consumption data in July, while income growth signals sustainability, says Morningstar's Bob Johnson.
Only a stunningly high or low number in the month’s revision-prone report would force the Central Bank’s hand on rates.
Inventory levels explain most of the gap between this week's strong new-home sales and tired existing-home sales data.
A resurgence of first-time buyers is driving new home sales, while the aging population is affecting existing home inventory and sales, says Morningstar's Bob Johnson.
Although the rate-hike guessing game will persist, factors bigger than the Fed are at play in the economy.
Inflation data indicates that retirees may be facing a small Social Security cost-of-living adjustment for next year, says Morningstar's Bob Johnson.
A number of factors seem poised to put pressure on corporate profits, likely creating a headwind for equity markets in the years to come, says Morningstar's Bob Johnson.
Reports indicate that the labor market is tightening as businesses face difficulty filling their openings, says Morningstar's Bob Johnson.
When the two reports diverge, it's often the employment report that gets it right.
Continued strong wage growth and an uptick in the participation rate were among the highlights of July's better-than-expected employment numbers.
Against the backdrop of volatile GDP data, Friday’s employment report is expected to show continued growth.
A tough week for U.S. data means the Fed may find it hard to raise rates in September.
With headline inflation likely to remain tame, Morningstar's Bob Johnson thinks strong jobs data will be needed to force the Fed's hand in September.
Despite all the angst, purchasing manager data suggests that things are not falling apart in Europe.
Morningstar's Bob Johnson says even though housing is a relatively small part of the economy, any movement is relatively large, and that has an impact on the GDP.
Data this week suggest the consumer is back in the saddle and inflation continues to worsen, but the Fed appears handcuffed.
Robust retail sales is another sign the U.S. economy is growing, but overseas concerns will likely keep the Fed at bay.
Better economic data along with likely lower-for-longer interest rates propelled U.S. stocks higher this week.
The rebound in jobs in June is a sign that the U.S. economy is still chugging along but not at a pace that will force the Fed’s hand in raising rates soon, says Morningstar’s Bob Johnson.
After May's disappointing jobs numbers, we could see a healthy rebound in June's data, says Morningstar's Bob Johnson.
While consumer spending growth has been stable, underlying category shifts have been notable.
An upward revision to first-quarter GDP and stable consumption data were bright spots this week, but Brexit uncertainty could linger as a headwind on world trade.
Housing and the consumer sector remain strong while many other areas are weak, says Morningstar's Bob Johnson.
Slowing GDP growth over the last year has yet to be fully reflected in the historically tightly coupled employment growth data.
This week's retail sales report suggests consumers are not in retreat, as some feared after May's dismal employment data.
The Fed's decision to wait on raising rates, and the reduction of their longer term rate projections, is another sign that the central bank is fighting an uphill battle against structural impediments to U.S. growth.
New data indicates that the jobs market may be softening, but it's not falling off a cliff, says Morningstar's Bob Johnson.
The availability of enough workers may be the real problem behind the sluggish jobs report.
Both wages and real disposable personal income are exceeding consumption, suggesting better news for the consumer in the months ahead.
Employment growth had been running higher than fundamentals dictated since at least last fall.
Last month’s weak employment data simply puts job growth back in line with GDP and isn’t a sign that the economy is in trouble, says Morningstar’s Bob Johnson.
Morningstar's Bob Johnson on the Verizon strike's likely impact on Friday's employment report, plus inflation and consumer data.
Housing-related growth may be more sensitive to interest rates than we had previously believed.
Morningstar's Bob Johnson sees the surge in new home sales as confirmation that housing remains a key underlying strength of the economy.
Commodities and materials stocks dominate performance statistics
Two movies we have seen before.
The U.S. economy is once again bouncing back from a winter slump, but full-year GDP growth should remain muted, says Morningstar’s Bob Johnson.
Friday's retail sales report dispelled any notion that the consumer is afraid to spend, writes Morningstar's Bob Johnson.
Small business and jobs openings point to a still tight labor market, despite last week's disappointing report.
Spending on capital equipment has picked up, which should improve productivity and potentially GDP as well, says Morningstar's Bob Johnson.
Gains in hours worked and hourly wage rates offset some of the sting of slower employment growth.