More Record Highs for Home Prices
CoreLogic’s Home Price Index showed that home prices nationwide rose 0.3% from July to August, hitting a new all-time high for the fourth straight month. CoreLogic forecasts that home prices will rise 0.2% in September and 3.4% in the year going forward, though their forecasts tend to be on the conservative side historically. In fact, […]
Tame Unemployment Claims a Contrast to Job Cuts
Initial Jobless Claims rose by 2,000 to 207,000 in the latest week, with the number of people filing for unemployment benefits for the first time continuing to hover near eight-month lows. The low level of first-time filings suggests that employers are holding on to workers. Continuing Claims fell by 1,000, reaching the lowest level since […]
Job Openings a Surprise “JOLT” Higher
The latest Job Openings and Labor Turnover Survey (JOLTS) showed that job openings rose from 8.92 million in July to 9.61 million in August. This was an unexpected move higher, as job openings had been declining every month since April. Professional and business service positions accounted for a large share of openings. What’s the bottom […]
Levine Capital 2023 41st Week Newsletter
“The single most powerful asset they all have is their mind. If it is trained well, it can create enormous wealth in what seems to be an instant.” – Robert Kiyosaki September brought a blowout job creation number from the Bureau of Labor Statistics, but is the labor sector as strong as that data suggests? […]
Private Payrolls at Weakest Pace in Almost 3 Years
ADP’s Employment Report showed that private payrolls were weaker than forecasted in September with just 89,000 jobs created, marking the slowest pace of growth since January 2021. While job gains were reported among small and mid-sized businesses, large businesses with 500+ employees shed 83,000 jobs. Among the various sectors, leisure and hospitality was by far […]
Soaring September Job Growth Defies Expectations
The Bureau of Labor Statistics (BLS) reported that there were 336,000 jobs created in September, nearly double the forecasted amount and the highest since January. Revisions to July and August also added 119,000 jobs (all government) in those months combined. The unemployment rate held steady at 3.8%, just above the expected decline to 3.7%. What’s […]