The U.S. brought back another 379,000 jobs in February 2021, but still has yet to recover 9.46 million of the 22.46 million jobs lost in March and April of last year at the onset of the pandemic according to the Bureau of Labor Statistics (BLS). The unemployment rate slipped slightly from 6.3 percent in the …Read more
After growing for almost a decade, average credit card balances and debt dropped unexpectedly and precipitously in 2020. Total U.S. credit card debt retracted from $829 billion in 2019 to $756 billion in 2020 – an 8.8 percent decline. While there remained 10 million unemployed workers as of year-end 2020, the 142.6 million with jobs …Read more
Jobs are everything to the economy and ultimately to the demand for real estate. Following the pandemic plunge when 22+ million jobs were lost in March and April, the U.S. followed with seven consecutive months of job gains recouping 12.3 million (55.6 percent) of the lost jobs. Until now. December saw an estimated 140,000 net …Read more
Jobs are everything to the economy and to the ultimate demand for real estate. Period. U.S. job numbers have been on a wild roller coaster ride since the pandemic, with the country still shy 9.8 million jobs when compared to February of this year. The loss and recovery rates of jobs have not been uniform …Read more
A normal jobs report would look at 1-month and 12-month changes jobs and call it a day. In the pandemic landscape of today, however, the focus is on how many jobs were lost initially and how well the recovery is going. The underlying data are reported monthly by the U.S. Bureau of Labor Statistics (BLS), …Read more
The U.S. continues to recapture jobs lost at the onset of the pandemic in March and April, but that recovery is slowing and unequal across the geographic landscape. Seasonally adjusted job numbers by state, as reported monthly by the Bureau of Labor Statistics (BLS), found that 40 states added jobs from August to September, 10 …Read more
Jobs are everything to an economy. Period. Ordinarily when analyzing the monthly employment statistics, the focus is on growth from the prior month and in the past 12-months. That all changed in the months since the pandemic. Key metrics post-pandemic (up until now) included: the total percentage of jobs lost since February (the baseline prior …Read more
Unfortunately the ebb and flow of Coronavirus cases across the country are like my stock portfolio: some are up, some are down and others unchanged. Ideally all stocks would be up and Coronavirus cases down. Once again the TINSTAANREM axiom is invoked — There Is No Such Thing As A National Real Estate Market or …Read more
The economic impact of the Coronavirus varies from one city to the next just like medical symptoms and severity of those infected by the virus differs from one person to another. A myriad of factors affect how each local housing market will respond under these pressures and economic uncertainties. My favorite economic and real estate …Read more