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Tag Archives: Economy

Economic Snapshot: Existing home sales dip slightly

Photo credit to Dan Moyle

Although existing home sales decreased, February's sales pace is still 5.4 percent above the previous year. 2017 started at the fastest pace of existing home sales in almost a decade. Existing home sales Total existing home sales dropped 3.7 percent to a seasonally adjusted annual rate of 5.48 million in February, down from 5.69 million in January. The median existing home ...

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Economic Snapshot: Builder confidence at 12-year high

Home Construction

The National Association of Home Builders/Wells Fargo Housing Market Index rose in March to its highest level in nearly 12 years. Current sales conditions and sales expectations for the next six months are both very positive indexes among homebuilders. Housing Market Index Builder confidence in the market for newly built single-family homes jumped six points to 71. This is the ...

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Economic Snapshot: Private sector employment adds record-high jobs in February

Help-wanted-Andreas-Klinke-Johannsen

Private sector employment increased by 298,000 jobs from January to February, according to the February ADP National Employment Report. This is up from 261,000 jobs added in January and the largest increase since June 2014. The report also marks the fourth consecutive month of monthly private sector job growth above 200,000. “February proved to be an incredibly strong month for ...

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Economic Snapshot: Consumer confidence remains at 15-year high

consumer-confidence

After declining in January, the Consumer Confidence Index rose in February and remains at its highest level since mid-2001. Consumer confidence Consumer confidence increased to 114.8 in February, up from 111.6 in January. The Present Situation Index rose from 130.0 to 133.4 and the Expectations Index increased from 99.3 to 102.4. “Consumer confidence increased in February and remains at a ...

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Economic Snapshot: Small business optimism remains at decade high

small-business

Small business optimism rose again in January, now at its highest level since December 2004, according to the National Federation of Independent Business Index of Small Optimism. January’s increase suggests the post-election surge has staying power. NFIB small business optimism The NFIB Small Business Optimism Index reached 105.9 in January, an increase of 0.1 points. Five of the index components ...

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Economic Snapshot: Unemployment and job openings remain unchanged

Jobs-Help-Wanted-Hiring

The unemployment rate and the number of job openings were both little changed this month. The report reflects the last month of data under former President Barack Obama. Employment situation The number of unemployed persons and the unemployment rate were little changed in January, at 7.6 million persons and 4.8 percent, respectively. The number of long-term unemployed was essentially unchanged ...

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Economic Snapshot: Private sector employment soars in January

Help-wanted-Andreas-Klinke-Johannsen

The ADP Employment Report showed private sector employment was up significantly in January than in the past seven months. Construction and manufacturing jobs rose this month, in contrast to regular losses throughout 2016. ADP employment report Private sector employment increased by 246,000 jobs in January 2017. This is a nearly 100,000-job jump from the 151,000 jobs added in December 2016 ...

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Economic Snapshot: Despite December decrease, existing home sales have best year since 2006

Photo credit to Dan Moyle

Existing home sales decreased in December and year over year, yet the National Association of Realtors are still very pleased with 2016’s overall results. Existing home sales Existing home sales finished 2016 at 5.45 million sales, a 2.8 percent decrease from an upwardly revised 5.65 million in November. Sales are 0.7 percent higher than the previous year. NAR is still ...

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Economic Snapshot: Small business optimism at its highest level since 2004

small-business

December marked the second consecutive month of record-breaking small business optimism, now at its highest level in over 12 years. NFIB Small Business Optimism Index The National Federation of Independent Business Index of Small Business Optimism reached 105.8 in December, increasing 7.4 percent and rocketing the index to its highest level since 2004. “We haven’t seen numbers like this in ...

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Economic Snapshot: Private sector employment adds 153,000 jobs

Jobs-Help-Wanted-Hiring

The ADP Employment Report, which tracks private sector employment, shows 153,000 jobs were added in December. Monthly averages of private sector employment are down by 35,000 from 2015. ADP employment Private sector employment increased by 153,000 jobs in December, which is down significantly from the 215,000 jobs added in November. “As we exit 2016, it’s interesting to note that the ...

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