News in end use


U.S. Job Cuts Declined While Hiring Increased in February 2022

According to the latest Job Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S.-based employers announced 15,245 cuts in February 2022. This is a 20% drop from January’s total announced cuts of 19,064. In February, U.S. based employers announced plans to hire 215,127 workers, the highest February total on record.

ADP Reports Private Sector Employment Increased in February

According to the February ADP® National Employment Report™, released today (3-2-22), nonfarm private sector employment increased by 475,000 jobs from January to February. ADP’s chief economist said, “Hiring remains robust but capped by reduced labor supply post-pandemic. Last month, large companies showed they are well-poised to compete with higher wages and benefit offerings.”

Residential Construction Loan Volume Reaches Post-Great Recession High Levels in Q4 2021

According to data provided by the FDIC, with further analysis provided by the National Association of Home Builders (NAHB), residential construction loan volume during Q4 2021 reached a post-Great Recession high, as home building activity posted gains for the entire year. According to the report, the volume of 1–4-unit residential construction loans made by FDIC-insured institutions increased 1% during Q4 of 2021.

Canadian Real GDP Unchanged in December

Statistics Canada (StatsCan) reported today (3-1-22) that the real gross domestic product (GDP) was virtually unchanged in December, following six consecutive months of growth. Growth in services-producing industries (+0.1%) was offset by a decline in goods-producing industries (-0.1%).