Tag Archive for ‘COVID-19’

Weekly Jobless Claims Remain Unchanged

Weekly initial jobless claims remained unchanged for the week ending September 5, and continuing claims, which lag initial jobless claims by one week, increased by 93,000 for the week ending August 29.  This week’s data indicate a slow improvement in labor market that badly damaged by the COVID-19 pandemic. The U.S. Department of Labor released the Unemployment Insurance Weekly Claims… Read More ›

COVID-19 Pandemic Impact on Global Construction and Housing Sectors

Jack Rutherford served as an intern for the NAHB Economics Group during the summer of 2020. He authored the following post. COVID-19 Pandemic Impact on Global Construction and Housing Sectors The impact of COVID-19 on the home building industry is a key concern for most, if not all, countries. There are common vulnerabilities in the global home building industry that… Read More ›

1.4 Million Jobs Added in August

In August, total payroll employment rose by 1.4 million and the unemployment rate fell to 8.4%. The U.S. labor market continues to recover from the COVID-19 crisis. Residential construction employment rose by 27,700 in August to 2.9 million. Total construction industry (both residential and nonresidential) employment rebounded to 7.2 million in August. It is worth noting, however, that nonresidential construction… Read More ›

Weekly Jobless Claims Fall as A New Methodology Applies

Both weekly initial jobless claims and continuing claims, which lag initial jobless claims by one week, declined, mainly reflecting a change in the methodology from the Labor Department. Starting in September 3, 2020, instead of multiplying the unadjusted number by the seasonal factor, the Bureau of Labor Statistics (BLS) has decided to use the additive method to seasonally adjust the… Read More ›

Suburban Shift for Home Building in Q2 2020

The Q2 2020 results of NAHB’s Home Building Geography Index (HBGI) show geographical trends of the home building industry as the novel coronavirus, COVID-19, spread quickly through the United States. Although the pandemic caused widespread economic impacts for many businesses, housing has weathered the economic storm, rebounding quickly from an April slump. Moreover, data from the second quarter NAHB HBGI… Read More ›

Q2 2020 National Delinquency Survey

Amid widespread job losses and other economic hardship resulting from the COVID-19 pandemic, all the U.S. states, Puerto Rico, and the District of Columbia experienced quarterly percentage increases in home loans past due, according to the seasonally adjusted Q2 2020 results of the Mortgage Bankers Association’s (MBA) Q2 2020 National Delinquency Survey. In the second quarter of this year, on… Read More ›

Weekly Jobless Claims Jump to Over 1.1 Million

Weekly initial jobless claims jumped back to above 1 million in the week ending August 15. Continuing claims, which lags initial jobless claims by one week, has declined for three weeks in a row. This week’s data indicate that the road to economic recovery may not be smooth, but bumpy. The U.S. Department of Labor released the Unemployment Insurance Weekly… Read More ›

Q2 2020 Senior Loan Officer Opinion Survey

The Federal Reserve’s latest release of the Senior Loan Officer Opinion Survey shows banks’ lending practices and households and businesses’ demand for various classes of loans as of the second quarter of 2020. As evidenced in the survey, in the wake of the COVID-19-wrought pandemic, widespread economic hardship caused many banks to tighten their standards across all credit classes of… Read More ›

Gain for the “Core” CPI in July

In July, overall inflation remained unchanged from the previous month, while core inflation accelerated. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.6% in July on a seasonally adjusted basis, the same increase as in June. Excluding the volatile food and energy components, “core” CPI rose by 0.6% in July, after an increase… Read More ›