ESI senior advisor Joel Naroff spoke on the state of the United States economy during the Summer Brand Camp conference that was held in Dallas from June 2-4.
During his speech, Naroff discussed how realizing economic trends won’t stay the same is one of the most important factors in evaluating the economy. He said that changing economic conditions are some of the biggest factors in understanding business.
To drive that point home, Naroff discussed how the economy had a negative first quarter but still has a positive outlook for the future. He said trends from the first quarter – a trade deficit and oil prices, for example – won’t remain the same because economic conditions will change throughout the year. He added the same conditions existed during last year’s first quarter but eventually changed.
Naroff also touched upon how the unemployment rate is down and job openings are at record highs, specifically in the professional and technical services, hotel and restaurant industries.
He closed with a reminder that while the economy is rising into the future, it is a process that takes time.
You can watch a YouTube video of Naroff’s speech below.