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US jobless claims hold at 20-month high, existing home sales tick up in May

The number of people filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve's aggressive credit tightening.
United States Lawrence Yun Chizu Nomiyama Thomas Simons Dan Burns Jerome Powell

New home construction in USA surges by most in three decades in May 2023, ET RealEstate

Home Construction In USA: Still, even with the Fed skipping a rate hike this month for the first time since early 2022, credit conditions remain in the process of tightening, and that could make it challenging for builders heavily reliant on construction and development loans to keep pace with Mays rebound in the months ahead.
Alicia Huey Ben Ayers Bill Adams Thomas Simons Comerica Bank Commerce Department

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