Latest Updates: Related to Inflation

State and Local Government Job Losses in Three of Last Four Months Illustrate Continued Budget Pressures

01/11/2021
  • U.S. labor market data reported Friday by the Bureau of Labor Statistics showed non-farm payrolls dropped unexpectedly by -140,000 compared to the +50,000 consensus expectation.
  • The December non-farm payroll decline ended seven straight months of U.S. labor market expansion going back to May 2020.
  • The third wave of COVID-19 is the leading factor for the negative employment actions.
  • We do not believe that the fifth phase of COVID-19 relief was a “windfall” for state and local governments, as the Wall Street Journal indicated in December. States and cities have still not received any direct, unencumbered aid.

 

Download the full article

Read more Municipal Commentary 

Learn More From HilltopSecurities

Questionable Seasonal Adjustments and Omicron Surge Weigh on December Spending

Yields Plunge Again on Bank Jitters, while PPI and Retail Sales Cool

Thank you for visiting the HilltopSecurities website.
For best viewing experience, we recommend using Chrome, Firefox, Safari, or Microsoft Edge.