Robert Denk is Assistant Vice President for Forecasting and Analysis at the National Association of Home Builders. His responsibilities include developing econometric models of national, state and metropolitan area housing activity, as well as providing ad hoc analyses on a range of housing sector issues. Mr. Denk has been an economist in Washington DC for over 20 years working in the private, non-profit and government sectors. Mr. Denk received a B.S. from the College of Social Sciences at Michigan State University and an M.A. in Economics from Virginia Polytechnic Institute and State University.
The Employment Situation report was released today by the Bureau of Labor Statistics (BLS). The headline number was painful as total nonfarm payrolls declined by 95 thousand jobs, but as most analysts recognize, that number is polluted by federal job reductions as the temporary decennial census workforce completes its work (77 thousand temporary census jobs ended in September). With… Read More ›
The Employment Situation report released today by the Bureau of Labor Statistics (BLS) confirmed that the US economy is on the mend, albeit slowly. The headline number, total nonfarm payroll employment, was down (-54,000) but that figure was dominated by the loss of 114,000 temporary Census Bureau workers who have completed their work on the decennial census. The private sector… Read More ›
BEA revised GDP growth down from 2.4% to 1.6% percent in the second quarter, indicating the slowdown in economic activity was worse than originally thought. The revisions primarily raised imports and lowered private inventory investment and exports, subtracting from growth, but also increased personal consumer expenditures, partially offsetting the decline. The downward revision adds fuel to the fire in the… Read More ›