Desert Song: Relying on Alt Data for Economic Pulse

Published on November 12, 2025

While we wait for federal data to come back online, private sector gauges continue to underscore still-weak manufacturing, resilient services, and mediocre job growth.

Continue reading on website
Other news

Should We Party Like It’s 1999?

November 12, 2025
Looking back to the 1990s need not be just a matter of nostalgia. Those too young to have lived it envy the fortunes made as technology firms grew. Seasoned investors who worked through the cycle can warn us of the pain of a correction. Along the way, the cycle taught useful lessons.

Should We Party Like It’s 1999?

November 12, 2025
The prime-age labor force participation rate of 84.6% in January 1999 is still a record high. But the pace of hiring distinguishes the two eras. In the 1990s, anyone with marginal tech skills could readily find work. Information sector employment grew over 27% from 1995 to 2000, while total nonfarm employment gained 12%.