Tag Archives: Economy

Economic Snapshot: Private sector employment soars in January

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

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

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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Economic Snapshot: Consumer confidence rises to 15-year high

Consumer confidence is up again this month, now at its highest level in 15 years. Consumer confidence The Consumer Confidence Index posted another gain in December after a considerable increase in November. The index now stands at 113.7, up from 109.4 last month. The Expectations Index jumped from 94.4 to 105.5 but the Present Situation Index decreased from 132.0 to ...

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Economic Snapshot: Existing home sales stay at pre-recession levels

Photo credit to Dan Moyle

Existing home sales increased again in November, building on the pre-recession levels October sales hit last month. Housing starts dropped this month, but housing completions remain high. Existing home sales Total existing home sales increased 0.7 percent to a seasonally adjusted annual rate of 5.61 million in November, up from a downwardly revised 5.57 million in October. This is the ...

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Economic Snapshot: Small business optimism, builder confidence at pre-recession highs

Small business optimism is above the 42-year average for the third time since 2007 and builder confidence is at its highest level in over 11 years. These bumps can both be attributed to post-election sentiments. NFIB Small Business Optimism Index Small business optimism improved 3.5 points to 98.4 in November, which is just above the 42-year average. This is the ...

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Economic Snapshot: Huge gains in consumer confidence, private sector employment

Both consumer confidence and private sector employment saw large increases this month. However, the manufacturing industry continues to be a weak point for private sector employment. Consumer confidence Consumer confidence, which had declined in October, jumped in November from 100.8 to 107.1. The Present Situation Index increased from 123.1 to 130.3 and the Expectations Index rose fro, 86.0 to 91.7. ...

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Economic Snapshot: A steady housing market

Builder confidence has remained steady this month, while housing starts are up over 20 percent from last month and the previous year. Housing Market Index Builder confidence held steady at a level of 63 in November, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). “With most of our members responding before the November elections, confidence ...

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Economic Snapshot: Unemployment rate unchanged for 15 consecutive months

While the unemployment rate has shown little movement since August 2015, small business hiring trends suggest the unemployment rate is remaining steady at what some may call “full employment.” Employment situation Total nonfarm payroll employment rose by 161,000 in October and the unemployment rate was little changed at 4.9 percent, according to the U.S. Bureau of Labor Statistics. The number ...

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