Unemployment falls to 3.8 percent, lowest level in 18 years

An excellent monthly jobs report this morning from the U.S. Department of Labor: the economy added 223,000 jobs in May, and unemployment fell to 3.8 percent. That’s the lowest rate of unemployment in the United States since 2000. 

Here’s why new home construction is down so much

Michael Neal, an analyst with the National Association of Home Builders, estimated that only about 890,000 single-family homes will be built in 2018 — nearly 1 million short of annual growth projections by the U.S. Census Bureau, which includes migrat…

Owning is cheaper than renting in over half of US counties

With home prices rising 7 percent year-over-year, renting is often seen as a more affordable alternative to buying. But as ATTOM Data Solutions latest rental affordability report shows, that isn’t necessarily true for a good chunk of the population …

Hurricanes take their toll on new construction, inventory

The Bureau of Labor Statistics (BLS) report for September has revealed that the real estate industry will have to wait a while longer for inventory relief. Summaries from July and August showed impressive growth in the residential construction sector, giving economists a glimmer of hope that inventory relief was on the way, but Hurricanes Harvey and Irma stifled that growth …

Strong employment rates aren’t enough to offset the rise in housing prices

This month’s report pushed April and May’s readings up by 47,000 jobs, something National Association of Realtors (NAR) Managing Director of Housing Research Danielle Hale says is a signal that the “apparent weakness” of the last months of spring was a “blip” due, in part, to late data reporting. Although the unemployment rate rose slightly in June by 0.1 percentage points to 4.4 percent, Hale says she isn’t particularly concerned because of the increase in the labor force and the strength of other labor market health measurements …

At Work on Christmas? It’s Not Just You

(TNS)—It’s the most wonderful time of the year—unless you happen to be working for an employer with a Scrooge-like heart and disdain for holiday pay. You just might find yourself working Christmas without so much as an extra candy cane to show for it. The bad news is that there’s not much you can do […]

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What effect could unemployment have on the election?

With one month left until the United States elects a new President, the numbers in the new Bureau of Labor Statistics (BLS) employment report could shed some light on who’s voting for whom, according to Lawrence Yun …

Employment rebounds with 287,000 jobs in June, says BLS

The underwhelming 38,000 new jobs added in May 2016, according to last month’s Bureau of Labor Statistics (BLS) Employment Situation Summary, left economists sweating a little. How did June shape up, though …

3 tips for women who want to maximize their productivity in real estate

In the past five years, women-owned small businesses have grown; 20 to 25 percent of small businesses are now owned or led by women. You might also be surprised to know that according to the Bureau of Labor Statistics, women constitute 57 percent of th…

Construction sector job growth means inventory relief lies ahead

In September, housing-related employment grew at a stronger pace — 3.56 percent — than other job types. According to Trulia, most of this growth was driven by the construction sector, which as a whole saw a 3.55 percent rise in employment. …