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Boyd Nash-Stacey is Senior Economist at BBVA Research, where he is in charge of U.S. macroeconomic analysis, U.S. financial markets and, geostrategy and strategic analysis in U.S. In the past, Boyd has held positions focused on regional economic analysis and forecasting, underbanking research, political and financial scenario development, and demographic opportunity.
His work has been featured in Bloomberg, Dallas Morning News, the Houston Chronicle, San Antonio Express News, Business Weekly, Business Insider, American Banker and Texas Monthly.
Boyd holds a BA in Public Policy and Political science from The University of Texas at Austin, and a MA in Applied Econometrics from the University of Houston.
In February, the economy added 379,000 nonfarm payroll jobs while the unemployment rate edged down to 6.2%. To secure a faster recovery, policymakers should continue provisioning ample fiscal and monetary support. Premature removal of either could threaten the prospects of the recovery.
January’s labor market report continued to show strains from the resurgence in Covid-19 cases, with nonfarm payrolls relatively unchanged at +46K. Despite the tepid hiring conditions, the unemployment rate fell 40bp to 6.3%, with the number of unemployed dropping by 600K.
Economic activity continued to expand in the fourth quarter of 2020, albeit at a much slower pace. This reflected both solid ongoing momentum and the negative consequences of lower fiscal support and rising Covid-19 cases.