Page 21 - Microeconomic Data News Today

The Federal Reserve Bank of New Yorks Center for Microeconomic Data released the March 2021 SCE Labor Market Survey, which shows among the respondents who were employed four months ago, 97.3 percent were still employed in March 2021, compared to 95.3 percent in November 2020 and 89.1 percent in March 2020. z sce_labor.png The increase was primarily due to a decline in transitions out of the labor force (which fell to 1.3 percent in March 2021 from 4.0 percent in November 2020). The proportion ...

41% A strong credit profile plays an important role when trying to qualify for a home loan, and will factor into the type of loan and rate a lender can offer.  A higher credit score will lead to lower interest rates, which can save thousands of dollars over the life of a loan and hundreds of dollars a month in some markets. The lower the credit score, the less favorable the terms, if the loan is approved at all. Zillow research found a borrower with a "fair" credit score could pay 7 percent ...

AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the results of a new study looking at how nonprofit and public service employees think about student loan debt, student loan forgiveness and the Public Service Loan Forgiveness (PSLF) program. Millions of public sector and nonprofit workers including teachers, healthcare workers and first responders may be eligible for student loan forgiveness through PSLF, but confusion aroun...

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The Federal Reserve Bank of New Yorks Center for Microeconomic Data released the December 2020 z sce_spending.png The survey shows a continuation of relatively modest monthly household spending growth compared to pre-pandemic levels. While the share of respondents who reported making a large purchase during the past four months has increased for most spending categories since April 2020, the share reporting spending on vacations dropped further to a new series low. Year-ahead total household s...

  Milwaukee , Wis. – Is your New Year’s Resolution to get out of debt? Improving your finances and increasing your savings is a common goal on January 1, but it’s not always easy, especially this year. If you are in debt, you’re not alone. With COVID-19 causing budgets to be stretched in many households, total American household debt is only rising. According to the US Federal Reserve’s Center for Microeconomic Data, “total household debt increased by $87 billion… in the third ...

The story of the pandemic is also a story about debt. One recent survey, conducted in October, found that more than a quarter of respondents had accumulated over $10,000 in new debts during the crisis. One in three had taken out a new credit card. An analysis from Philadelphia found a 70 percent increase from last year in people paying rent on credit and that, by December, rent-burdened households will owe roughly $7.2 billion in back rent, an average individual burden of $5,400. The crisis of...

z sce_labor.png This increase was due to a decline in transitions into unemployment (from 10.5 percent in July to 0.8 percent). Among those who were employed four months ago, transitions out of the labor force also increased, rising from 0.7 percent in July to 4.0 percent in November. This increase was most pronounced among women and respondents without a college degree. The average expected likelihood of moving into unemployment over the next four months, for those who are currently employed, ...

November 2020 Consumer Expectations Rise Despite Flat Income and Earning Expectations The Federal Reserve Bank of New Yorks Center for Microeconomic Data released the November 2020 Survey of Consumer Expectations, which shows that despite flat income and earnings growth expectations, households year-ahead spending growth expectations rose sharply in November to 3.7%, the highest level recorded in more than 4 years. z sce.png Labor expectations were mixed with deteriorating expectations about ...

By Lambert Strether of Corrente. Readers, it occurred to me that although we writers have now gone some days without any of those 524/522 errors that were plaguing us, I never personally thanked our expert and patient technical team for fighting their way through to the correct insight that solved a difficult intermittent problem. So thank you! –lambert Bird Song of the Day A swamp bird (editorializing just a little bit on this, Electoral College Day). #COVID19 At reader request, I’ve added...