Unemployment
By Tory Barringer | 05/21/2012
The report, put together by IHS U.S. Regional Economist Steven Frable, stated that Alaska, North Dakota, Texas, and Louisiana have all reached or passed their prerecession employment levels, with Alaska and North Dakota reporting peak employment in 2010-11. These four states are also experiencing the most benefits from the current energy boom. Many other states have bounced almost all the way back, coming within 1 percent of their employment peaks.
Read More
By Esther Cho | 05/17/2012
While the U.S. housing market appears to be on the road to recovery, it will be a rather patchy one, with some regions seeing home prices rise as high as 5 percent and others falling flat, according to a report released from the Demand Institute, which is jointly operated by The Conference Board and Nielsen.
According to the report, three variables will indicate the speed of recovery for individual states: state-level unemployment rates, the proportion of foreclosure inventory relative to total inventory, and the extent of recent price declines.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/17/2012
First time claims were unchanged at 370,000 for the week ended May 12 after the number of initial claims filed for the previous week was revised upward, the Labor Department reported Thursday. Economists had expected initial claims would decrease to 365,000. The Labor Department had initially reported 367,000 claims filed for the week ended May 5. The revision turned that report to an increase of 2,000 from a previously reported decline of 1,000. Continuing claims - reported on a one week lag - increased 18,000 to 3,265,000 after the preceding week's report was bumped up to 3,247,000 from an originally reported 3,269,000, coincidentally another 18,000 increase from the original report.
Read More
By Esther Cho | 05/16/2012
The Consumer Distress Index, published by CredAbility, found the average U.S. household is under less financial stress these days, most likely due to factors such as added jobs and the mild winter weather this year. Overall, U.S. households scored 69.9 out of 100 points, with a score under 70 indicating a state of financial distress. While still 0.1 points shy of rising above the distress category, the score is an improvement from the previous quarter's 67.6. Also, 69.9 is the highest score since the 2008 third quarter and the 2.3 point increase from the previous quarter is the highest quarterly jump in seven years.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/10/2012
First time claims for unemployment insurance resumed their steady decline dipping 1,000 to 367,000 for the week ended May 5, the Labor Department reported Thursday after the previous week's total was revised upward by 3,000 to 368,000, the highest level in five months.
Read More
By Esther Cho | 05/04/2012
The economy added 115,000 jobs, and the unemployment rate dropped to 8.1 percent. With an upward revision of 53,000, March's payroll growth is now 159,000. Economists expected payrolls to grow by 165,000 for April. The government sector cut 15,000 jobs, and the private sector added 130,000 jobs. With these reported numbers from the Bureau of Labor Statistics, economists from IHS Global Insight, Capital Economics, and Fannie Mae provided their own analysis on what the numbers really mean and what they may indicate for the future.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/04/2012
The nation added 115,000 jobs in April, far below expectations and a drop from March’s revised payroll growth of 154,000, the Bureau of Labor Statistics reported Friday. The closely watched unemployment rate dipped again to 8.1 percent – its lowest level since January 2009 (7.8 percent) when President Obama took office – a function of a sharp drop in the nation’s labor force.
Payroll gains for February and March were revised, adding 19,000 to the February numbers and 34,000 to March. The average workweek remained at 34.5 hours – still below the level when the recession began in December 2007 (34.6) and average hourly earnings improved by one cent. The number of people not in the labor force increased, as both the number of people employed and unemployed declined.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/03/2012
First time claims fell a surprising 27,000 to 365,000 for the week ended April 28, the Labor Department reported Thursday after revisions drove the prior week’s report up by 4,000 to 392,000, the highest level in five months. Economists had expected initial claims would decrease to 378,000.
Read More
By Mark Lieberman, Five Star Institute Economist | 04/26/2012
First time claims for unemployment insurance remained over 380,000 for the third straight week for the week ended April 21, the Labor Department reported Thursday, the highest levels of the year. According to the report there were 388,000 initial claims, down from the revised 389,000 one week earlier.
Read More
By Mark Lieberman, Five Star Institute Economist | 04/19/2012
First time claims for unemployment insurance remained over 380,000 for the second straight week for the week ended April 14, the Labor Department reported Thursday, the highest levels of the year. According to the report, there were 386,000 initial claims, down from the revised 388,000 one week earlier The prior week’s report was adjusted upward by 8,000. Economists had expected initial claims would decrease (from the original report) to 365,000.
Read More
