Home >> Tag Archives: Mark Lieberman (page 4)

Tag Archives: Mark Lieberman

First-Time Jobless Claims Up, Still Below Expectations

Unemployment

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.

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Job Openings Hit Five-Year High in June

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.

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Loan Officers Report Rising Demand for Non-Traditional Loans

According to the Federal Reserve's latest quarterly Senior Loan Officers Opinion Survey, a net 3.1 percent of lenders responding said demand for "non-traditional" residential loans increased from the survey released three months ago and a net 25 percent of respondents said demand for loans from sub-prime borrowers was higher than it was in May. At the same time, a net 6.3 percent of lenders said they had eased lending terms and standards for non-traditional mortgage loans.

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Unemployment Rate Dips to 7.4% Despite Disappointing Payroll Growth

Unemployment

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.

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First-Time Unemployment Claims Plunge to Five-Year Low

Unemployment

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.

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FOMC Issues Mortgage Rate Warning, Sticks to Bond Purchases

Fed

Despite concerns about rising mortgage rates and low inflation, the Federal Open Market Committee (FOMC) voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month bond-buying program. In a subtle change of language, the committee "reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends."

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Case-Shiller Indices Near Five-Year High

Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday. The 20-city index was up 12.2 percent from a year earlier, and the companion 10-city index was up 11.8 percent. For the month, the 10-city index rose 2.5 percent and the 20-city index was up 2.4 percent. The two surveys have improved month-over-month and year-over-year for 12 consecutive months.

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Pace of New Home Sales Climbs to Five-Year High

The seasonally adjusted annual rate of sales welled 8.3 percent in June to 497,000, according to a report from the Census Bureau and HUD. Economists surveyed by Bloomberg expected June sales to increase to 484,000 from May's originally reported 476,000. The median price of a new home fell 5.0 percent in June to $249,700, the third time the median price has dropped in the last four months. At the same time, May's median price was revised down to $262,800 from the originally reported $263,900.

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