Page 39 - Pce News Today

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• At 8:30 AM ET, Employment Report for March.   The consensus is for 565,000 jobs added, and for the unemployment rate to decrease to 6.0%. Click on graph for larger image. This graph shows the job losses from the start of the employment recession, in percentage terms. The current employment recession is by far the worst recession since WWII in percentage terms, and is currently about as bad as the worst of the "Great Recession". Posted by Calculated Risk on

A top ranked economics and finance blog with a focus on the housing market

• Revenue per available room (RevPAR): US$62.68 The 57.9% absolute occupancy was a 160.8% increase from the comparable, pandemic-affected week last year, but more importantly, represented more than 83% of occupancy regained from the 2019 benchmark. More than 21 million rooms were sold for the second week in a row, however, it was the first time in four weeks that the metric fell week over week, which is indicative of softening in the spring break demand that had boosted levels previously. emp...

4/01/2021 12:46:00 PM On Friday at 8:30 AM ET, the BLS will release the employment report for March. The consensus is for 565 thousand jobs added, and for the unemployment rate to decrease to 6.0%. Some analysts think this will be a very strong report with maybe 1 million jobs added. For example, from Merrill Lynch economists: "We look for nonfarm payrolls to grow by a robust 1mn in March following a gain of 379k in February. Labor market indicators undoubtedly showed strong employment activi...

Housing Starts: Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,421,000. This is 10.3 percent below the revised January estimate of 1,584,000 and is 9.3 percent below the February 2020 rate of 1,567,000. Single-family housing starts in February were at a rate of 1,040,000; this is 8.5 percent below the revised January figure of 1,136,000. The February rate for units in buildings with five units or more was 372,000. Building Permits: Privately-owned hou...

Mortgage applications decreased 2.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 12, 2021. ... The Refinance Index decreased 4 percent from the previous week and was 39 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. The unadjusted Purchase Index increased 3 percent compared with the previous week ...

3/17/2021 12:11:00 PM Note1: Import traffic was heavy in February - ships were backed up waiting to unload in LA. "some vessels are spending almost as much time at anchor as it takes to traverse the Pacific Ocean." Note2: The expansion to the Panama Canal was completed in 2016 (As I noted a few years ago), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast. Container traffic gives us an id...

It appears the  poor weather in February impacted housing starts - the largest declines in starts were in the South and Mid-West regions.  Single family starts were up 38% year-over-year in the West (not impacted by poor weather).  Permits (unaffected by the weather) were up 17% year-over-year, and were up solidly in the South and Mid-West. Total housing starts in February were below expectations, and starts in December and January were revised down slightly, combined. Single family starts...

A top ranked economics and finance blog with a focus on the housing market