Rick Harper

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses job growth for the month of August.

This week, just days before the official U.S. Labor Department report, the payroll processing firm ADP (Automated Data Processing) released a report projecting that some 200, 000 new jobs were added in August.

“That’s a little bit lower than the consensus forecast by economists who track the job market,” says Harper.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper, assistant vice president of economic development at the University of West Florida, discusses the latest jobless claims report.

The U.S. Department of Labor report for the week ended Aug. 23 showed that the number of Americans filing new claims for unemployment benefits fell for a second straight week last week to 298,000, with a four-week average at 299,750.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper, assistant vice president of economic development at the University of West Florida, discusses the announcement this week regarding his new position with the Studer Institute.

A partnership with UWF will allow Harper to become Director of the Institute.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the meeting of state economists this week in Tallahassee. Florida has an office of Economic and Demographic Research (EDR) that reports on the economy to the President of the Senate and Speaker of the House.

“EDR every year has to produce the state economic outlook.  And, one of the most important reasons to do that is because the governor as we head into autumn is going to be evaluating various proposals for state programs or tax relief and has to know the health of the economy,” says Harper.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the benefits of the Back-to-School Tax Free Holiday that’s taking place this weekend (Aug 1-3), in Florida and Alabama. This is the second of three sales tax holidays in Florida this year.

The Hurricane Tax Free Holiday was held May 31-June 8. In September, there will be a sales tax holiday on the purchase of energy efficient appliances.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the latest report from the International Monetary Fund (IMF) projecting economic growth for 2014.

“It’s down somewhat...and a little disappointing” says Harper, noting IMF’s world GDP growth forecast of 3.4 percent for the remainder of the year. That's a little better than the 3.2% the world economy managed in 2013. However, their April forecast had been 3.6%. “So it’s a slight slowdown and we’re seeing that in a couple of different countries.”

University of West Florida

In this week’s Economic Report, Dr. Rick Harper reflects on Blue Angels weekend on Pensacola Beach. ‘Red, White and Blues Week’ follows the Fourth of July holiday weekend, which provides a critical boost to the local tourism industry over a stretch of about a week-and-a-half.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the importance of the month of July to Northwest Florida’s tourism industry.

“In our climate zone, July is far and away the biggest month. It’s the month in which hoteliers and restaurateurs are able to charge top dollar, keep the place full. That’s when they pack away the profits they’ll need to make their lease or mortgage payments throughout the rest of the year,” says Harper, who adds that there are indications that it’s a good July this year.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper discusses the latest first quarter revision of the gross domestic product (GDP).  According to the Bureau of Economic Analysis, GDP shows a 2.9% drop in the annual rate in January through March, the weakest quarter for the U.S. economy since the Great Recession.

University of West Florida

In this week’s Economic Report, Dr. Rick Harper begins with the latest from Federal Reserve Chairwoman Janet Yellen.

On Wednesday, Yellen announced that the Fed will continue its current monetary policy, cutting its monthly bond purchases by another $10 billion per month and keeping its key federal funds rate near zero. Further, she told a news conference that inflation was expected to move gradually back to the central bank's 2 percent target.

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