washington dc – Ahead of tomorrow’s State of American Business event, the U.S. Chamber of Commerce announced today: The State of the American Business Data Center To grasp the economic challenges facing the business community and reinforce the need for governments to overcome impasses and seek solutions.
Businesses face many economic challenges, including the threat of recession, labor shortages, overregulation and geopolitical uncertainty. Amid these challenges, confidence in governments to do what they can to help is low.
At the U.S. Chamber of Commerce’s 2023 State of American Business event at 11:00 a.m. ET on January 12, 2023, Suzanne P. Clarke, President and CEO of the U.S. Chamber of Commerce, will address economic uncertainty as well. Regardless, we detail how U.S. business is strong and optimistic and will continue to lead the country. Going forward this year. The event will highlight the role of business-driven innovation and the role of government in advancing smart policies to shape a safer and more resilient economic future for our country.register here.
The data center analyzes 12 economic indicators across business topics such as workers, IPOs, consumers, supply chain, energy and innovation to diagnose the health of business communities and economies.
In early 2023, the data paint a different picture.
- Shortages Near All-Time High: The Chamber of Commerce Labor Shortage Index reading is near an all-time low of 0.73, meaning there are only 73 workers available for every 100 job openings.
- Downturn in the IPO and loan markets: The number of IPOs hitting the market is below average, with 180 new IPOs in 2022.
- Solid consumer spending: Inflation is near a 40-year high, but spending is also high, rising 8.2% annually in 2022.
- Supply chain tensions are easing. The New York Federal Reserve’s Global Supply Chain Pressure Index stands at 1.0, down from a pandemic high of over 4.0 in 2021.
- Energy prices are falling: Energy prices hit record highs during Russia’s invasion of Ukraine, but are now starting to stabilize.
- A heterogeneous innovation ecosystem: The United States continues to issue large numbers of patents, but less than half are granted to US residents.
The State of American Business Data Center builds on the Chamber’s expanding portfolio. Economic data content It covers labor shortages, immigration, equal opportunity, competition and more.
Register for the State of American Business event on January 12th at 11am here.