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  • Fri, Aug 21 2020
  • 2:33 PM » BLS: July Unemployment rates down in 30 states; 3 States at New Series Highs
    Published Fri, Aug 21 2020 2:33 PM by Calculated Risk Blog
    From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were lower in July in 30 states, higher in 9 states, and stable in 11 states and the District of Columbia , the U.S. Bureau of Labor Statistics reported today. All 50 states and the District had jobless rate increases from a year earlier. The national unemployment rate fell by 0.9 percentage point over the month to 10.2 percent but was 6.5 points higher than in July 2019. ... Massachusetts had the highest unemployment rate in July, 16.1 percent, followed by New York, 15.9 percent. The rates in Connecticut (10.2 percent), New Mexico (12.7 percent), and New York (15.9 percent) set new series highs . (All state series begin in 1976.) Utah had the lowest unemployment rate, 4.5 percent, followed by Nebraska, 4.8 percent, and Idaho, 5.0 percent. emphasis added Click on graph for larger image. This graph compares the unemployment rate in two lockdown states (New York and New Jersey), and two early open states (Florida and Texas). This will be interesting to track.   New York and New Jersey locked down, and then waited to reopen. Florida and Texas reopened sooner. Currently New York and New Jersey are averaging about 900 new positive cases per day, combined. Florida and Texas are averaging about 11,500 cases per day.
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    Source: Calculated Risk Blog
  • 2:02 PM » Existing-Home Sales Soar at a Record Pace in July as Americans Make Up for Lost Time—but Two Big Caveats Remain
    Published Fri, Aug 21 2020 2:02 PM by
    The national median home price surpassed $300,000 for the first time on record, according to the National Association of Realtors The post Existing-Home Sales Soar at a Record Pace in July as Americans Make Up for Lost Time-but Two Big Caveats Remain appeared first on Real Estate News & Insights |® .
    Click Here to Read the Full Article

  • 12:48 PM » That extra $300 weekly unemployment benefits: Where states stand
    Published Fri, Aug 21 2020 12:48 PM by CNBC
    More states are starting to apply, and be approved, for federal unemployment assistance. Here's a map of where states stand.
  • 9:11 AM » Single-Family Built-for-Rent Construction Down in 2Q20
    Published Fri, Aug 21 2020 9:11 AM by
    The number of single-family homes built-for-rent (SFBFR) posted a small year-over-year decline for the second quarter of 2020. The SFBFR market has received attention as a means to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period of double-digit unemployment and weak wage growth. Single-family built-for-rent construction does differ in... Read More ›
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  • 8:53 AM » Average New Home Price Now $14,000 Higher Due to Lumber
    Published Fri, Aug 21 2020 8:53 AM by
    According to NAHB's standard estimates of lumber used to build the average home, the recent spike in softwood lumber prices has caused the price of an average new single-family home to increase by $14,116 since April 17. Similarly, the market value of the average new multifamily home has increased by $5,322 over the same period due to the surge in... Read More ›
    Click Here to Read the Full Article

  • 8:14 AM » Struggling retailers rush to file for bankruptcy as fears of a second wave of coronavirus linger
    Published Fri, Aug 21 2020 8:14 AM by CNBC
    Another round of retail bankruptcies and liquidations could be coming if a second wave of infections run smack into the holiday shopping season.
  • 8:04 AM » U.S. Treasury yields move higher as investors look ahead to fresh economic data
    Published Fri, Aug 21 2020 8:04 AM by CNBC
    U.S. government debt prices were lower on Friday morning, as investors monitored flash readings of purchasing managers' index data.
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