Author Archives
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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 ›
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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 ›
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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 ›
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Energy Prices Push Consumer Prices Higher in January
Consumer prices increased in January as energy prices increased. However, “core” consumer prices were unchanged, indicating that inflationary pressures remained muted as the economy continues to recover amid the COVID-19 pandemic. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.3% in January on a seasonally adjusted basis, faster than a 0.2% increase in… Read More ›
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Construction Employment Changes Little in January
Total payroll employment rose by 49,000 and the unemployment rate fell to 6.3% for the month. The labor market continues its slow recovery amid the COVID-19 pandemic. In January, residential construction employment remained virtually unchanged (-600), after increasing for eight straight months. Meanwhile, non-residential construction lost 1,900 positions, after four consecutive months of gain. Currently, job gains in residential construction… Read More ›
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Jobless Claims Decrease for The Third Straight Week
Weekly initial jobless claims declined by 33,000 in the week ending January 30. Continuing claims, which lag initial jobless claims by one week, decreased by 193,000 in the week ending January 23. This week’s jobless claims indicate that the labor market is recovering from the COVID-19 pandemic gradually. More hiring is expected when Coronavirus vaccines become more widely distributed. According… Read More ›
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Jobless Claims Trend Down
Weekly initial jobless claims declined slightly to 847,000 in the week ending January 23. Continuing claims, which lag initial jobless claims by one week, decreased by 203,000 in the week ending January 16. The labor market is recovering from the COVID-19 pandemic, albeit slowly. According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor recently,… Read More ›
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U.S. GDP Expanded in the Fourth Quarter
The U.S. economy continued to grow in the fourth quarter of 2020 but was remained below pre-recession levels. This quarter’s growth reflected both the economic recovery from the current recession and the ongoing impact of the COVID-19 pandemic. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual… Read More ›
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Double-digit Growth in Home Prices
In November, national home prices continued to rise at a fast pace, fueled by strong demand and low inventory. All 19 major markets saw double-digit growths in home prices. 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 18.3% in November, following a 21.9% increase… Read More ›
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Jobless Claims Jump to 965,000
During the week ending January 9, weekly initial jobless claims soared to 965,000, the highest level since mid-August 2020. Continuing claims, which lag initial jobless claims by one week, rose by 199,000 in the week ending January 2. The labor market is struggling to recover from the COVID-19 pandemic as many states tighten business restrictions amid the resurgence of the… Read More ›