Employment in the construction sector increased by 13,000 in March, following a gain of 14,000 in February, the BLS and NAHB reported.
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US Nonfarm Payroll Increases by 228,000 in March; Unemployment Ticks Up to 4.2%
Total nonfarm payroll employment increased by 228,000 in March, higher than the average monthly gain of 158,000 over the prior 12 months.
Canadian Employment Declines and Unemployment Rises in March
Employment declined by 33,000 (0.2%) in March, the first decrease since January 2022.
Typical US Homebuyer’s Monthly Payment Hits New Record High for Second Consecutive Week
The typical US homebuyer’s monthly payment hit a record high, reaching $2,802 during the four-week period ending March 30, Redfin reported.
US Mortgage Rates Tick Lower in the Week Ending April 3
The 30-year fixed-rate mortgage averaged 6.64%, down from last week when it averaged 6.65%, Freddie Mac reported.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending March 29
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 6,000 from the previous week’s revised total.
US Job Cuts Soar in March
US-based employers announced 275,240 job cuts in March, a 60% increase from the 172,017 cuts announced in February, CG&C reported. Year-over-year, cuts were up 205%.
President Trump Announces 10% Baseline Tariff; Higher Rates on Certain Countries
Trump announced a 10% baseline tariff on imports from all countries and higher tariff rates on dozens of nations, AP reported.
US Residential Construction Spending Rebounds in February
Private residential construction spending increased 1.3% in February, rebounding from a 1.2% dip in January, the Census Bureau and NAHB reported.
US Mortgage Applications Fall in the Week Ending March 28—Third Consecutive Decrease
Mortgage loan application volume decreased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.