Eye On Housing
Author Archives
-
Inflation from Economic Reopening is Here
Both headline inflation and core inflation jumped in April, reflecting strong consumer demand for products and services as the economy reopens from the COVID-19 recession. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.8% in April on a seasonally adjusted basis, after an increase of 0.6% in March. It marks the largest increase… Read More ›
-
Residential Construction Employment Rose Slightly in April
Job gains unexpectedly slowed in April as states lifted COVID-19 restrictions on businesses and more people are vaccinated. Total payroll employment rose by only 266,000 and the unemployment rate increased to 6.1% in April. This was a surprisingly disappointing report on the macro level. Residential construction employment rose by 3,100 in April, after an increase of 28,700 in March. Non-residential… Read More ›
-
Strong Gain for Consumption in the First Quarter of 2021
In the first quarter of 2021, real GDP surged and approached its pre-pandemic level as the economy continued to reopen. This quarter’s growth reflected strong gains for consumer and government spending. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 6.4% in the first quarter… Read More ›
-
Headline Inflation Accelerates in March
Both headline inflation and core inflation accelerated in March as the economy reopens from the COVID-19 recession. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.6% in March on a seasonally adjusted basis, after an increase of 0.4% in February. It marks the biggest increase since June 2009. Excluding the volatile food and… Read More ›
-
Residential Construction Employment Surpasses the February 2020 Level
Total payroll employment rose by 916,000 and the unemployment rate declined to 6.0% in March. The labor market is improving as many states ease business restrictions and more people are vaccinated. Residential construction employment increased by 37,000 in March, while non-residential construction added 73,100 jobs. Currently, employment in residential construction surpassed the level in February 2020, while only 64% of… Read More ›
-
Sharp Increases in Energy Prices in February
Consumer prices increased by 0.4% in February as energy prices rose sharply, while “core” consumer prices increased moderately given relatively weak demand. Inflationary pressures remained subdued amid the weak economic situation, although inflation expectations are rising. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.4% in February on a seasonally adjusted basis, marking… Read More ›
-
Residential Construction Employment Remains Unchanged in February
Total payroll employment rose by 379,000 and the unemployment rate declined to 6.2% in February. The labor market is showing signs of recovery as some states start to ease business restrictions gradually. Employment in construction declined in February due to the severe winter weather in many states. Non-residential construction lost 60,800 positions in February, reflecting declines in nonresidential specialty trade… Read More ›
-
Home Price Appreciation Continued in December
In December, national home prices (not seasonally adjusted) rose at the fastest pace in seven years, fueled by strong demand and low inventory. Among all 19 major markets, Seattle, Washington DC and Cleveland reported the largest home price appreciation. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual… Read More ›
-
Another 861,000 Jobless Claims Filed
Weekly initial jobless claims increased for the past two consecutive weeks and reached the highest level in one month in the week ending February 13, despite the decreases in the number of COVID-19 cases. The labor market is recovering from the COVID-19 pandemic, but the road is proving to be long. The U.S. Department of Labor released the Unemployment Insurance… Read More ›
-
Jobless Claims Fall Slightly
Weekly initial jobless claims declined slightly in the week ending February 6. Continuing claims, which lag initial jobless claims by one week, decreased by 145,000 in the week ending January 30. The labor market is continuing to recover from the COVID-19 pandemic, but at a slow pace. The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report today…. Read More ›