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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Are we seeing cracks in the labor market?

Housing Wire

The BLS jobs report data isn’t the best recession indicator, which we can all see since the recession of 2023 — forecast by so many — didn’t occur. Here are my three key points on the labor market recovery since I retired my COVID-19 recovery model on Dec. Does this mean the labor market is breaking? 9, 2020: 1.

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Job gains exceed expectations in December

Housing Wire

economy in 2023, an average monthly gain of 225,000, according to the BLS. Even though the headline jobs numbers beat estimates, the internals of the jobs report show that the labor market is slowing down,” HousingWire Lead Analyst Logan Mohtashami said. “We Economists were expecting an addition of 170,000 jobs. That’s less than the 4.8

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What another strong jobs report means for the mortgage industry

Housing Wire

Since August 2023, the unemployment rate has hovered between 3.7% Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

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Jobs data shows the truth about the labor market

Housing Wire

today should be between 158 million and 159 million , or in a weaker labor market growth scenario, between 157 million and 158 million. Now let’s look at the labor market on all fronts from the data we got this week to get a comprehensive view of the labor market today. From the St.

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Strong jobs report suggests rate cuts won’t come ‘til summer

Housing Wire

Though all signs point to a cooling labor market overall, the economy picked up another 275,000 jobs in February. The jobs report on Friday is unlikely to convince the Fed that rate cuts are necessary when the Federal Open Markets Committee meets later this month, economists said. Job openings were essentially unchanged at 8.9

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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.