Tag Archives: Jobs

While new housing production is expected to see a healthy rebound later this decade, Fannie Mae's Economic and Strategic Research (ESR) group believes "an anticipated slowdown in workforce expansion suggests more modest prospects for new housing demand and construction than witnessed historically." Using the Census Bureau's new projections for population growth over the coming years, Fannie Mae's team says labor force growth could range from as high as 0.9 percent (under optimistic conditions) to as low as 0.4 percent

First-time claims for unemployment insurance for the week ending August 10 fell to the lowest level since January 2008, the Labor Department reported Thursday. The department said there were 320,000 new claims for unemployment insurance, a drop of 15,000 from the previous week. Economists expected the number of claims to drop to 330,000 from the 333,000 originally reported for the week ending August 3. The number of filings for that week was revised to 335,000.

It was a mixed week for mortgage rate reports following the release of July's employment numbers, which showed job growth coming in below the market consensus forecast.

The number of markets listed on the National Association of Home Builders' (NAHB) Improving Markets Index (IMI) continued to decline in August, though the index still sits well ahead of where it was last year, the association reported. "While the number of improving housing markets this August remains well ahead of the same month last year, the index is affected by seasonal softening in home prices just as we saw happen in 2012," explained NAHB chief economist David Crowe.

First-time claims for unemployment insurance increased 5,000 to 333,000 for the week ending August 3, the Labor Department reported Thursday. Economists expected the number of claims to drop to climb to 336,000 from the 326,000 originally reported for the week ending July 27. The number of filings for that week was revised to 328,000, the lowest level since early May.

The number of job openings rose 29,000 in June to the highest level in five years, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). At the same time, the number of unemployed individuals per job opening dipped below 3 (to 2.99) for the first time since October 2008. The number of unemployed per job opening fell sharply in the construction industry to 6.2 in June--the lowest level since July 2008--from a revised 8.7 in May.

According to the Real Estate Roundtable, the latest survey continues the "basically flat" trajectory of the past several quarters, with the Current Conditions index staying at 71 and the Overall and Future Conditions index each rising a single point to 70 and 68, respectively. Respondents also noted increased planning and construction in asset classes outside the multifamily segment and greater investor interest outside of "red hot" metros such as New York, San Francisco, Dallas, and Houston.

"Beauty," Lew Wallace, the author of Ben Hur, once wrote, "is altogether in the eye of the beholder." So, it seems, is "disappointing" when describing the employment report for July.

The nation's economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent. The financial sector added 15,000 jobs in July, up from the average of 10,000 for May and June. New financial jobs included 3,600 underwriters and 3,000 new real estate jobs, reflecting the uptick in home sales.

First time claims for unemployment insurance dropped to the lowest level in five years, falling 19,000 to 326,000 for the week ended July 27, the Labor Department reported Thursday. Economists expected the number of claims to drop to edge up to 345,000, from the 343,000 originally reported for the week ended July 20.