News in end use

A closer look at the Bureau of Labor Statistics (BLS) Job Openings and Labor Turn Over Survey (JOLTS) for November — with an emphasis on the construction labor market and additional analysis provided by the National Association of Home Builders (NAHB) — reveals that the construction labor market remains tight as the number of quits accelerated. According to the report, the number of open/unfilled construction positions in November dropped to 345,000, or -4.4%.

On Tuesday (1-4-22) the U.S. Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for November 2021. According to the JOLTS report, as of the last day in November, the number of job openings decreased to 10.6 million (-529,000 or -6.6%). The number of hires was increased to 6.7 million in November, up from October’s 6.5 million. The hire rate was 4.5% up from 4.4% in October.

House prices outpace increases in median household income.

Redfin reports median home sales prices reached record highs at the end of 2021.

U.S. construction spending slightly higher in November.

Mortgage rates edge higher at the end of December.

The U.S. Department of Labor reports declining initial filings for unemployment benefits.

A survey indicates inflation and energy costs are impacting expected home buyers and sellers.

The National Association of Realtors report pending home sales dropped 2.2% in November.

The Case-Shiller National Home Price index shows continued gains in US home prices.