US employers announced 38,792 job cuts in December, a 33% drop from November’s 57,727, according to Challenger, Gray & Christmas. However, this marks an 11% increase year-over-year.
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Mortgage Applications Decrease in the Week Ending January 3
Mortgage loan application volume declined 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending January 4
The advance figure for seasonally adjusted initial unemployment claims was 201,000, a decrease of 10,000 from the previous week’s unrevised level.
ADP Reports Private Sector Employment and Compensation Both Increased in December
Private sector US employment increased by 122,000 jobs in December, according to ADP. Year-over-year, annual compensation was up 4.6%.
US Residential Construction Employment Data for November
The number of open construction sector jobs increased from a revised 259,000 in October to 276,000 in November, the BLS and NAHB reported.
Fannie Mae Home Purchase Sentiment Index Declines in December
The Fannie Mae Home Purchase Sentiment Index (HPSI) fell 1.9 points in December, but it remained substantially higher than year-ago levels.
US Consumer Confidence Index Declines in December
The Conference Board Consumer Confidence Index declined 8.1 points to a reading of 104.7 (1985=100) in December.
US Job Openings and Labor Turnover Summary for November
As of the last business day in November, the number of job openings was 8.1 million. Year-over-year, the measure was down 833,000.
US Home Prices Increase 0.5% in November
US home prices increased 0.5% in November on a seasonally adjusted basis, marking the third consecutive month of 0.5% growth, Redfin reported.
US Housing Affordability Improved Modestly in 2024 but Remains Out of Reach for Many
A household earning the median income in 2024 would need to allocate 41.8% of their income toward the cost of a typical home, slightly down from 42.2% in 2023, Redfin reported.