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%.
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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.
ADP Reports Private Sector Employment and Compensation Both Increased in March
Private sector employment increased by 155,000 jobs in March. Year-over-year, annual compensation was up 4.6%.
US Construction Spending Rises 0.7% in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7% above the revised January estimate.
US Residential Construction Job Openings Rise in February, but Remain Well Below Year-Ago Levels
The number of open construction sector jobs increased from a revised 242,000 in January to 264,000 in February, the BLS and NAHB reported.
US Nonresidential Construction Spending Reaches Record High in February
Nonresidential construction spending increased 0.3% in February, ABC and the Census Bureau reported. On a seasonally adjusted annual basis, spending totaled $1.255 trillion.
US Job Openings and Labor Turnover Summary for February
The number of job openings was little changed at 7.6 million. Year-over-year, the number of job openings was down 877,000.
70% of US Households Unable to Afford a $400,000 Home, NAHB Affordability Pyramid Shows
The pyramid reveals that 70%, or 94 million households, cannot afford a $400,000 home, according to NAHB analysis.