Quad Cities Chamber Blog

The U.S. economy added another 256,000 jobs last month. However, the labor markets for workers in goods-producing firms and workers in service-providing firms are behaving very differently. What does this mean for inflation and the path of interest rates and what can we learn from past episodes like this?

In December, the Senate passed legislation including authorization for the ONSHORE Act (Opportunities for Non-developed Sites to Have Opportunities to be Rehabilitated for Economic Development).The bill establishes the Critical Supply Chain Site Development program, which, once funded, will provide competitive grants to communities like the Quad Cities to invest in new shovel-ready sites. This funding could significantly enhance the region's economic development opportunities.

QC, That’s Where? That’s where innovation meets community roots to create lasting success. Two iconic Quad Cities companies, Electro Freeze and Nestlé Purina, exemplify this legacy. Electro Freeze, a pioneer in frozen dessert equipment for over 80 years and Nestlé Purina, a global leader in pet nutrition with nearly a century in the QC, have built their success on the region's strategic advantages: a hardworking, skilled workforce, an abundant transportation network and a supportive community.

Inflation is in the news again, causing the market to modify expectations for interest rate cuts in 2025. However, the inflation picture is very different for goods vs. services. This week, we take a closer look at these numbers and the implications for the months ahead.

Last week, we discussed the top economic indicators for the U.S. economy from 2024. This week, we look at some of the key indicators for the Quad Cities economy of the last year. The most important of these is payroll employment. While employment fell earlier in the year, there are signs of a turnaround as we head into 2025.

The U.S. economy performed better than many expected in 2024. While strong GDP growth in the 4th quarter is expected, job growth is slightly lower at the national level than earlier in the year. Inflation, which came close to the Fed's 2% target in the fall, has inched up slightly. What does this mean for 2025? This week, we look at the year in review and the implications for 2025.

The job creation machine that is the U.S. economy continues to roll along, creating another 227,000 jobs in November. Locally, the Quad Cities labor market was stable in October showing some signs of improvement. The strong job creation has implications for interest rates in 2025. This week, we consider how the recent data affects the inflation and interest rate outlook.

Many local manufacturers in OEM supply chains are wondering “who” they are to the customers, their employees, to the regional economy and to the global markets. Instead of focusing on challenges, now is the best time to creatively think about solutions. Many find change uncomfortable, but personal and professional growth often happens as a result of disruption. So, what if we apply a growth mindset to prepare for the new year?

Economic activity as measured by Gross Domestic Product (GDP) in the six-county region increased to nearly $34 billion in 2023. After adjusting for inflation, the growth rate was 1.3% for the year, and the growth rate for 2022 was revised up from 0.0% to 1.1%. This week, we examine the latest county-level GDP figures to see where the expansion and contraction is happening in the local economy.

Congratulations to the 11 businesses that became new members of the Quad Cities Chamber this November.

At the Chamber’s annual Economic Forecast meeting, expert economists Kevin Depew, RSM Deputy Chief Economist, and Bill Polley, the Quad Cities Chamber’s Director of Business Intelligence, provided an in-depth national, regional and local economic analysis. “The U.S. growth outlook shows us that we’ve experienced the best economy in a generation – that people still love to hate," said Depew.

While holiday travelers have benefitted from lower gasoline prices lately, the price of diesel fuel remains high. Analysts expect some relief next year, but prices will likely remain elevated for some time. This week, we look at the supply and demand factors for gasoline and diesel fuel to explain the reason for this price divergence.

Inflation is down from a couple of years ago, but some sectors of the economy are still seeing rising prices. This week, we explain the reason for the progress on overall inflation and why there are still concerns for higher prices down the road.

Fair Labor Overtime Salary Thresholds Act overturned. Federal judge in Texas prevents Act from going into effect.

The U.S. trade deficit was up again in September and is now the largest that it has been in two years. This week, we take a look at the main reasons that the trade deficit has been increasing, what it means for the Quad Cities economy, and why it may take some time before this trend reverses.

The 2024 election has led to a change in leadership in Washington and a continued status quo in Iowa, Illinois and our local governments. Many may have read significant news coverage about these races, but this recap is meant to localize that coverage and discuss the impact of the November election on business community priorities.

The Chamber extends a warm welcome to the 18 businesses that became members in October. Thank you for your unique contributions and investment in our region's success - you are making an impact.

The national employment report for October was below expectations, and the local unemployment rate rose in September. The labor market remains a concern, but consumer spending is still strong. Recently, the bond market began signaling what this may mean for the road ahead. This week, we discuss why a slowing labor market amid strong spending poses a unique challenge for the national economy.

U.S. gross domestic product (GDP) grew at a slower rate than expected in the third quarter, and inflation was up more than expected in September. Will this derail plans for further interest rate cuts? This week we look at the implications of this news and explain what the market thinks about the path of interest rates.

Throughout October, the Quad Cities Chamber leveraged its relationships with elected leaders and candidates for federal office to create new experiences for its members and investors. The Chamber hosted Congress members Mariannette Miller-Meeks (R – IA), Eric Sorensen (D – IL), and candidate Christina Bohannan (D – IA) and Judge Joe McGraw (R – IL).