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State Employment and Unemployment Report for February 2021

The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) has released the February 2021 State Employment and Unemployment report. This news release presents statistics from two monthly programs. The civilian labor force and unemployment data are modeled based largely on a survey of households. According to the BLS, unemployment rates were lower in February in 23 states and D.C., higher in 4 states, and stable in 23 states.

Harvard University Study Shows How Pandemic Helped Boost Home Improvement Industry

A new report recently released by the Harvard Joint Center for Housing Studies, “Improving America’s Housing 2021,” reveals that while the U.S. economy contracted by -3.5% in 2020, spending on home improvements and repairs increased more than 3% to nearly $ 420 billion — the result of households altering living spaces for work, school, and family time in response to the COVID-19 pandemic.

More Consumers Anticipate Purchasing a Home in the Next Four Months

The recently-published New York Federal Reserve Bank, December Household Spending Survey — with additional analysis provided by the National Home Builders Association — reveals a modest increase in household spending over the past four months (September through December), and a noticeable increase in the median expectation for year-ahead household spending to highest level since August 2015.