Employment in the construction sector increased by 11,000 jobs in April, following a downwardly revised gain of 7,000 in March, the BLS and NAHB reported.
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US Nonfarm Payroll Increases by 177,000 in April; Unemployment Steady at 4.2%
Total nonfarm payroll employment increased by 177,000 in April, closely aligned with the average monthly gain of 152,000 over the prior 12 months.
US Construction Spending Declines in March
Construction spending in March was estimated at a seasonally adjusted annual rate of $2,196.1 billion, down 0.5% from the revised February estimate.
US Mortgages Rates Continue to Inch Lower in the Week Ending May 1
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.81%, Freddie Mac reported.
US Personal Income and Outlays for March
Personal income increased 0.5% at a monthly rate in March; disposable personal income increased 0.5%; and personal consumption expenditures increased 0.7%.
US Private Sector Job Cuts Slow in April
US-based employers announced 105,441 job cuts in April, down 62% from the 275,240 job cuts announced in March, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending April 26
The advance figure for seasonally adjusted initial unemployment claims was 241,000, an increase of 18,000 from the previous week’s revised total.
US Real GDP Declines at an Annual Rate of 0.3% in Q1, BEA Reports in Its “Advance” Estimate
Real GDP declined at an annual rate of 0.3% in Q1, the BEA reported in its “advance” estimate. This follows an increase of 2.4% in 2024Q4.
US Pending Home Sales Rise 6.1% in March
The NAR Pending Homes Sales Index increased 6.1% to a reading of 76.5 in March. Year-over-year, sales were down 0.6%.
US Mortgage Applications Decline in the Week Ending April 25
Mortgage loan application volume declined 4.2% on a seasonally adjusted basis from one week earlier, MBA reported.