The Fed Must Act Now – Before the Job Market Cracks

Published By Categorized as Interviews

America’s labor market is flashing red, and the Federal Reserve is watching the light change instead of hitting the brakes. Job openings have fallen to 7.26 million, the lowest level in 4½ years. Private-sector hiring has turned negative, with September’s ADP data showing -32,000 jobs after August was revised down to -3,000. Employers’ plans to add workers have plunged 71% from last year, and year-to-date hiring announcements are the weakest since 2009. The Fed must move decisively by cutting rates 50 basis points in both the October and December meetings to prevent further deterioration in employment and restore confidence to the private economy. Read the rest of Dan’s article here.

By Dan Varroney

3 decades of experience working with multiple Industries and understanding different Association challenges by helping build strategies that add long term value. Comprehensive understanding of Associations, as Senior Vice President for the National Association of Manufacturers’ National Membership & Grass Roots operation, as President of the American Solutions Advocacy organization, & as President and CEO of the Association for Corporate Growth. Considerable background on impact of legislative and regulatory policy on Industries, has provided analysis on economic performance and M&A trends in outlets that include CNBC, CNBC Europe, Fox News, Fox Business, Dow Jones Marketwatch, Bloomberg, and the BBC. Strategic perspectives are frequently sought out by CEO Update, a leading source for Association news and information. Authored over 145 blog articles on Strategic Planning & Member Engagement. Facilitates knowledge sharing among forty -five Association CEO’s at the Growth Strategies & Member Engagement Forum.  Served as a member of the Prince William County, Virginia Strategic Business Planning Team. District Three Councilman in the Village of Palatine, Cook County, Illinois, twenty one years. B.A. in American History from the Catholic University of America, Washington D.C. and earned a Certificate from the Yale School of Management, New Haven, Connecticut in Leadership and Team Effectiveness. Member of the American Society of Association Executives (ASAE).