Quad Cities Chamber Blog

Inflation showed further signs of cooling in October as the Fed's preferred inflation gauge was unchanged. Meanwhile, real GDP was revised upward from 4.9% to 5.2% for the third quarter. How did Wall Street react? This week we examine how the news could affect prospects for interest rates in the new year.

Kevin Depew, RSM Deputy Chief Economist, was the keynote speaker at the Quad Cities Chamber’s Economic Forecast and provided an in-depth analysis of the national and regional economy to help QC businesses prepare for the coming year.

If comments from the first cohort of the Generation Next program are any indication, it won’t be long to see new names stepping forward to embrace wider roles in the civic life of the Quad Cities. Applications are now being taken for the second cohort of up to 40 participants who will begin their journey in January to learn more about getting involved in the QC community through board and committee service.

As we move into the winter heating season, the impact of energy prices on consumers' wallets is on everyone's mind. Energy prices can have a significant effect on the overall economy because production of any kind requires energy. This week, we take you inside the Energy Information Administration's forecasts for energy prices for this winter and beyond.

The consumer price index was unchanged in October, and other measures of inflation showed declines. This news sent equity markets higher as many believe that the Federal Reserve may be done raising interest rates. While it may be premature to declare victory over inflation at this time, this is certainly the best news on that front that we have received in many months. Policy error is still a possibility as falling inflation sends real interest rates higher, risking further contraction.

Payroll jobs increased in the Quad Cities metro area during the month of September, but so did the unemployment rate. While this seems strange, there is a straightforward explanation. This week we examine how this can happen and what indicators to look for in the coming months to determine whether this is a simply an adjustment to a sustainable equilibrium or something more.

The Chamber opposes the rule change, as it would lead to a significant number of currently exempt (not eligible for overtime) employees being either reclassified as nonexempt (eligible for overtime) or require an increase in wages to move those employees above $55,068 p er year.

Recent studies reveal that the average American consumer spends about 5 hours per day on their mobile device, and half that screen time involves social media sites. This makes social media an obvious place to focus your marketing efforts, however, chances are good you either don't have the time or the know-how it takes to manage multiple social media feeds - that's where automation can help.

Last Friday's report on the U.S. labor market was characterized by many analysts as a "Goldilocks" report--not too hot, not too cold, but just right. Payroll employment increased by 150,000 in October, well below the recent average. We discuss the implications for manufacturing and the prospects for a "soft landing" this week.

There’s a new first of its kind in North America, and it resides in the Quad Cities at Bettendorf-based CP Supply - a manufacturer of custom-printed corrugated cardboard and corrugated plastic…

U.S. real gross domestic product increased at a robust 4.9 percent rate in the third quarter. Consumer spending and increases in inventories contributed the most to growth. This week we explain what this means for the path of interest rates going forward and how the Federal Reserve will respond to this news.

Amazon celebrated the soft launch opening of their Quad Cities facility with a ribbon cutting. The facility is the latest generation of Amazon fulfillment centers covering over 2.3 million square feet on six floors with over 12 miles of conveyance.

How important is manufacturing to the region's GDP? For four of the six counties in the Chamber's service area, manufacturing's share of GDP is at or above the national average. Nearly one out of every five dollars of GDP in the region can be attributed to manufacturing. As manufacturing month continues, we highlight manufacturing's share of GDP in each of our six counties.

QC, That’s Where manufacturing helped spark the emergence of our region and continues to build the foundation for our future. It’s where hundreds of manufacturers are creating our region’s legacy as a manufacturing hub while simultaneously creating products that fuel the global economy.

In recognition of manufacturing month, we will feature data on manufacturing this week and next. As of BLS data from May 2022, there were 15,540 people working in production occupations in the Quad Cities metro area, representing nearly 9% of the jobs in the region. When you consider the additional occupations that support the companies in this space, the number of jobs dependent on manufacturing is even larger. This week, we’re breaking down the QC’s top manufacturing occupations and their median wages.

The Makers on the Move bus tour came to the Quad Cities to celebrate Illinois manufacturers and their contributions to the state’s largest industry during this Manufacturing Month, making stops at some of our region’s premier manufacturing sites along the way. The tour brought industry advocates, educators, economic development organizations, public officials and other manufacturing stakeholders to the Quad Cities to showcase our innovative manufacturing sector and the high-tech, diverse manufacturing opportunities available in our region. 

On Friday, the Bureau of Labor Statistics (BLS) reported that nonfarm payrolls in the U.S. increased by 336,000 jobs in September—well above the expectations of most analysts. Conventional wisdom says that a blockbuster labor report like this would lead to higher interest rates. However, the conventional wisdom might be wrong this time. This week, we go behind the headline and explain the reason for this and what it means for manufacturing.

The Rock Island Downtown Alliance’s early successes and future ambitions were put on full display during its official launch party.

For the past nine months, members of the second Leadership QC cohort have been refining their leadership skills and working towards a common goal of creating positive community change in the Quad…

What does the value of the dollar have to do with economic activity in the Quad Cities? Because the local economy is more reliant on export manufacturing than the average metropolitan area in the U.S., the Quad Cities regional GDP fluctuates with the value of the dollar. This week, we take a look at the numbers behind this phenomenon.