The annual rate of inflation, as measured by the Consumer Price Index (CPI), exceeded wage growth, defined as the year-over-year change in average hourly earnings, in April and May 2026. The last time this happened was during the COVID-19 pandemic period of 2021 to 2023, when demand and supply imbalances pushed inflation as high as 9%.
Tag: Joel Kan
New MBA White Paper Examines How Demographic Trends Will Affect Housing Demand
For more than a decade, policymakers, researchers, and industry stakeholders have focused on addressing a persistent shortage of housing in the United States. However, changing demographic and market conditions suggest that the housing landscape may look markedly different in the years ahead. This is according to a new white paper released by the Mortgage Bankers Association (MBA) examining recent and emerging shifts in U.S. housing demand and supply.
Chart of the Week: Monthly Payroll Growth and Unemployment Rates
In February 2026, with job losses in health care due to labor strikes, there was nothing left to support aggregate job growth, and total nonfarm payrolls declined by 92,000. Furthermore, job growth for December and January was revised down by a total of 69,000. Wage growth increased slightly to 3.8% over the past year.
MBA Economist Weighs In on Q4 GDP Results
Real gross domestic product increased 1.4% in Q4 2025, the U.S. Bureau of Economic Analysis reported Feb. 20.
Jobs Up by 73,000 in July Amid May, June Revisions; Industry Economists Weigh In
Total nonfarm payroll employment increased by 73,000 in July and the unemployment rate stood at 4.2%, the U.S. Bureau of Labor Statistics reported Aug. 1.
Jobs Report: U.S. Economy Adds 175,000 in April
Total nonfarm payroll employment increased by 175,000 in April, per the Bureau of Labor Statistics.
Economic Outlook: ‘Some Momentum’ Going into 2024–#MBAServicing24
ORLANDO–The U.S. economy was stronger in 2023 than most analysts expected, according to Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association.