Total nonfarm employment jumped by 528,000 jobs in July, more than double consensus expectations and pushing the unemployment rate to 3.5 percent, the Bureau of Labor Statistics reported Friday.
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U.S. Homeownership Rate at 2-Year High
The U.S. homeownership rate rose to 65.8 percent in the second quarter, matching its highest rate since 2020, the Census Bureau reported this week.
U.S. Homeownership Rate at 2-Year High
The U.S. homeownership rate rose to 65.8 percent in the second quarter, matching its highest rate since 2020, the Census Bureau reported this week.
Soaring Gas, Food Prices Drive June Consumer Price Index to 40-Year High
Broad-based increases in major price categories, particularly gas and food, drove the U.S. Consumer Price Index up by 1.3 percent in June month over month and by 9.1 percent year over year—the largest annual increase since 1981, the Bureau of Labor Statistics reported Wednesday.
June Jobs Report Beats Estimates
Employment rose by 372,000 jobs in June, the Bureau of Labor Statistics reported Friday, a strong report despite rising inflation and economic uncertainty.
Housing Market Roundup, July 6 2022
Here is a summary of recent housing, market and economic reports that have come across the MBA NewsLink desk:
Pending Home Sales Edge Higher
Pending home sales broke a six-month skid last month with a slight 0.7 percent rise from April.
May New Home Sales Jump 11%
May new home sales proved to be a solitary bright spot in a month of otherwise disappointing housing reports, rising by nearly 11 percent from April, HUD and the Census Bureau reported Friday.
May Housing Starts Plunge Amid Market Volatility
Housing starts fell sharply in May, HUD and the Census Bureau reported Thursday, as continued market volatility and higher interest rates took a toll on both consumers and home builders.
Fed Brings Out the Big Guns
Following weeks of gloomy economic news and rising inflation, the Federal Open Market Committee pulled out nearly all the stops on Wednesday, hiking the federal funds rate by 75 basis points for the first time in nearly 30 years.