Tag Archive for ‘economics’

Construction Job Openings Decline in August

The count of unfilled jobs in the overall construction sector fell in August, as residential construction employment hiring accelerated in August and September. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) fell to 184,000 in August, after establishing a cycle high of 225,000 in July (post-data revisions). The July estimate represents… Read More ›

August Personal Consumption Softens while Income Rises

Personal Consumption Expenditures (PCE) was effectively unchanged in August, standing at $11.5 billion, according to the most recent data release from the Bureau of Economic Analysis. Meanwhile, personal income rose by 0.2%, almost half of the gain in July.  The gain in personal income was the weakest since a drop in February, as wages, the largest component, only increased 0.1% after… Read More ›

Pending Sales Decline

The Pending Home Sales Index decreased 2.4% in August, declining for the third time in four months, and falling 0.2% below its level for the same month a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in August from a downwardly revised… Read More ›

New Home Sales: Solid August Follows Hot July

Sales of newly-built, single-family homes fell 7.6% on a monthly basis in August to a 609,000 seasonally adjusted annual rate according to estimates from the Census Bureau and HUD. However, the monthly change masks the fact that the August pace of new home sales was the second strongest since the end of the Great Recession. New home sales for August… Read More ›

Home Equity Growth Even as Homeownership Declines

According to the Federal Reserve Board’s second quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.290 trillion in the second quarter of 2016, $1.388 trillion higher than its level in the second quarter of 2015, $20.902 trillion. At the same time, home mortgage debt… Read More ›

Consumer Credit Outstanding: What’s Driving Auto Loan Growth?

Consumer credit outstanding expanded by a seasonally adjusted annual rate of 5.8% over the month of July 2016, 1.0 percentage point faster than its growth rate in June. According to the report, released by the Federal Reserve Board, there is now $3.66 trillion in outstanding consumer credit. Growth in revolving credit, which is largely composed of credit card debt, contributed to… Read More ›

Job Openings and Hiring Increase in Construction

The count of unfilled jobs in the overall construction sector rose in July, nearing the post-Great Recession high set in March. Residential construction hiring has also increased, after a period of soft gains in jobs. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) rose to 214,000 in July, after establishing a… Read More ›