At 8:30 a.m. on Friday, the Bureau of Labor Statistics issued a surprising May unemployment report: instead of the 8 million job losses expected by economists’ consensus, the report showed a dramatic 2.5 million increase in jobs, and a 1.4 percent dip in the unemployment rate, from 14.7 percent in April to 13.3 percent. But there was a catch–a huge catch.
Tag: Odeta Kushi
April Housing Starts Follow Now-Familiar COVID-19 Pattern
Housing starts, which fell by more than 22 percent in March, fell by another 30 percent in April to the lowest level since 2013 as the economic effects of the coronavirus pandemic slammed home.
Labor Dept. Reports 20.5 Million April Job Losses; Unemployment Rate Jumps to 14.7%
One of the worst weeks in U.S. economic history ended Friday with the Bureau of Labor Statistics reporting a staggering 20.5 million jobs lost in April and the unemployment rate jumping to its highest level since the Great Depression.
‘Coronavirus Effect’ Takes Aim at March Housing Starts
The economic effects of the coronavirus pandemic showed up in March housings starts, which fell by more than 22 percent, HUD and the Census Bureau reported yesterday.
Calm Before the Storm? February Housing Starts Dip 1.5%, Pre-Coronavirus
HUD and the Census Bureau reported privately owned housing starts in February fell slightly to a seasonally adjusted annual rate of 1.599 million—a not discouraging number, analysts said, ahead of the yet-to-be-seen impact of the coronavirus pandemic.
February Jobs Report on Solid Ground, Pre-Coronavirus
Total nonfarm payroll employment blew though expectations in February, adding 273,000 job, the Bureau of Labor Statistics reported Friday.
January Jobs Report Beats Expectations
Total nonfarm payroll employment rose by 225,000 in January, beating economists’ expectations, the Bureau of Labor Statistics reported on Friday.
Housing Starts Finish Year on Strong Note
HUD and the Census Bureau gave the housing and real estate finance industry something to cheer about Friday, reporting the strongest jump in housing starts in 13 years.
December Report Caps Solid Year of Jobs, Wage Growth
Total nonfarm payroll employment rose by 145,000 in December, slightly lower than previous months, the Bureau of Labor Statistics reported Friday.
Strong Housing Starts Report Caps Off Big Week for Housing
We could get used to the kind of momentum the housing market has right now.