According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 1.4 million in August, and the unemployment rate fell to 8.4%.
News in end use
Number of Homes For Sale in U.S. Declines for Twelfth-Straight Month in July
According to Redfin, a Seattle based technology-powered residential real estate company, the number of homes for sale declined for the twelfth-straight month in July, plunging near 20% to just 1.9 million homes – the lowest level of any month of July on record.
Mortgage Rates Inch Higher But Still Remain Below 3% in Week Ending 3rd September 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 3rd September 2020.
Redfin Reports Housing Sales and Home Prices Continue to Grow
According to Redfin, the Seattle-based real estate brokerage, for the four-week period ending August 23rd, the U.S. housing market experience strong sales and price growth, with the seasonally adjusted Redfin Homebuyer Demand Index (RHDI) up 29% from pre-pandemic levels in January and February.
Employers Announce 115,762 Job Cuts in August
According to Challenger, Gray & Christmas, Inc., a Chicago-based global outplacement and business executive coaching firm, job cuts announced by U.S.-based employers in August totaled 115,762.
Weekly Jobless Claims Dip Below 1 million in the Week Ending 29th August 2020
The U.S. Department of Labor is reporting that an additional 881,000* Americans made their initial filing for unemployment benefits during the week ending on Saturday August 29th.
ADP Reports Private Sector Employment Increased by 428,000 Jobs in August
According to the August ADP National Employment Report® nonfarm private sector employment increased by 428,000 jobs from July to August.
Home Building Shifts from Big Cities to Small Metro Areas and Exurbs in Q2 2020
The Home Building Geography Index (HBGI) developed by the National Association of Home Builders (NAHB) reported that while the pandemic had an extensive impact on many businesses, housing has been able to weather the economic storm, rebounding quickly from its April slump.
Residential Construction Loan Volumes Decreased in Q2 2020
The volume of residential construction lending posted a slight decline during Q2 2020. The decline is in step with a significant drop for the NAHB/Wells Fargo Housing Market Index and a 24% drop in single-family starts during the quarter.
Mortgage Applications Rate Declines for Third Week in a Row
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending August 28th, 2020, the Market Composite Index decreased -2.0% on a seasonally adjusted basis from one week earlier.