Which of the following is NOT an example of a macroeconomic driver?

Local job growth is not considered a macroeconomic driver; rather, it falls under the category of microeconomic factors. Macroeconomic drivers typically pertain to broader national or global economic trends that affect the economy as a whole.

Interest rates are a key macroeconomic driver as they influence borrowing costs, consumer spending, and investment by businesses. Housing starts represent another macroeconomic indicator, reflecting overall economic activity in the construction sector and signaling trends in housing markets. Consumer confidence is also a significant macroeconomic driver, as it affects spending patterns and investment decisions at a large scale.

Local job growth, while important, is primarily a microeconomic factor that impacts individual communities and regions. It can influence local economies but does not have the same scope or widespread effect on the national or global economy as the other options listed. Understanding the distinction between macroeconomic and microeconomic drivers is crucial in analyzing economic trends and making informed financial decisions.