Nonfarm payroll employment increased in 44 states in March compared to the previous month, while six states and the District of Columbia saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 303,000 in March, following a gain of 270,000 jobs in February. On a month-over-month basis, employment…
Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement. Builders are also still facing higher supply-side costs and tighter lending conditions. Overall housing starts decreased 14.7% in March to a seasonally adjusted annual rate of 1.32 million units, according to a…
Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4% over the February 2023 level of 112,131. Year-to-date ending in February, single-family permits were up in all four regions. The range of permit increase spanned…
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2023 according to the U.S. Bureau of Economic Analysis (BEA). Delaware is the only state to report an economic contraction last year. The percent change in real GDP ranged from a 5.9 percent increase in North Dakota to a 1.2 percent…
Nonfarm payroll employment increased in 43 states and the District of Columbia in February compared to the previous month, while seven states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 275,000 in February, following a gain of 229,000 jobs in January . On a month-over-month basis,…
Pent-up demand, moderating interest rates, and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in February to a seasonally adjusted annual rate of 1.52 million units, according to a report from the U.S. Department of Housing and Urban Development and…
