Eye On Housing
Author Archives
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U.S. Added 4.8 Million Jobs in June
In June, total payroll employment rose by 4.8 million and the unemployment rate dropped to 11.1%. The June data indicate that labor market is recovering from the COVID-19 crisis, though the road to a full recovery may be long. Residential construction employment rose by 83,200 in June to 2.8 million. Total construction industry (both residential and nonresidential) employment rebounded to… Read More ›
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Initial Jobless Claims Continue to Decline
While weekly initial jobless claims decreased for the 13th straight week, continuing claims, which lags initial jobless claims by one week, rose by 59,000 in the week ending June 20. The labor market is gradually recovering from the COVID-19 crisis as workers return to work, albeit slowly, and a full recovery of labor market may take a while with an… Read More ›
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Annual Home Price Gains Remain Strong in April
Home price appreciation continued in April despite the economic slowdown and the recent declines in existing home sales due to the COVID-19 pandemic. 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 growth rate of 5.8% in April, after a revised 6.9% increase in March. On a year-over-year… Read More ›
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Continuing Jobless Claims Fall Below 20 Million
Weekly initial jobless claims totaled 1.48 million in the week ending June 20 and continuing claims, which lags initial jobless claims by one week, declined by 767,000 to 19.52 million in the week ending June 13. The data indicate that the labor market is gradually recovering from the COVID-19 crisis as workers return to work, albeit slowly, and a full… Read More ›
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Initial and Continuing Jobless Claims Decline Slightly
Weekly initial jobless claims declined slightly in the week ending June 13 and continuing claims, which lags initial jobless claims by one week, declined to 20.5 million in the week ending June 6. While some workers are returning to work, albeit slowly, as coronavirus restrictions are gradually eased, others are being laid off as companies are closing permanently in wake… Read More ›
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Declines for Initial and Continuing Jobless Claims
Weekly initial jobless claims continued to decline in the week ending June 6 and continuing claims, which lags initial jobless claims by one week, declined to 20.9 million in the week ending May 30. The data indicate that workers are returning to work, albeit slowly, as coronavirus restrictions are gradually eased. The U.S. Department of Labor released the Unemployment Insurance… Read More ›
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Consumer Prices Drop for a Third Month
In May, the CPI and the “core” CPI fell for the third straight month amid the current recession caused by the COVID-19 pandemic. The data are a reminder that deflation is a greater risk during an economic downturn. However, as the economy rebounds, those deflationary pressures will ease. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index… Read More ›
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Surprise Data: Unemployment Rate Drops to 13.3% in May
In May, the unemployment rate posted a surprise decline to 13.3% and total payroll employment rose by 2.5 million as the economy partially reopened. Residential construction employment rose by 226,000 in May to 2.7 million, partially reversing a loss of 422,000 in April. Total construction industry (both residential and nonresidential) employment rebounded to 7.0 million in May. In the Employment… Read More ›
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Initial Jobless Claims Continue to Fall
The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending May 30th. Weekly initial claims fell below 2 million for the first time since the week ending March 14th. Continuing claims, which lags initial jobless claims by one week, rose slightly to nearly 21.5 million in the week ending May 23rd. The data indicate… Read More ›
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Continuing Jobless Claims Drop
The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending May 23rd. Initial claims have declined for the eighth straight week after it hit a record peak of 6.9 million in the week ending March 28th. Continuing claims dropped by 3.86 million in the week ending May 16th, suggesting some unemployed workers are finding… Read More ›