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  • Tue, Sep 15 2020
  • 3:58 PM » Here's how homeowners can prepare for insurance claims after Hurricane Sally
    Published Tue, Sep 15 2020 3:58 PM by CNBC
    As the slow-moving storm heads toward several states along the Gulf of Mexico, there may be steps you can take to prepare yourself for the possibility of having to file an insurance claim due to damage to your home.
  • 3:58 PM » The Fed could could still move markets Wednesday even with rates on hold for the foreseeable
    Published Tue, Sep 15 2020 3:58 PM by CNBC
    The Federal Open Market Committee will provide its quarterly update on where it sees GDP, unemployment and inflation heading.
  • 1:58 PM » Technical Note: September Employment Report Will Probably Show a Decrease in Temporary Census Workers
    Published Tue, Sep 15 2020 1:58 PM by Calculated Risk Blog
    The Census Bureau released an update today on 2020 Census Paid Temporary Workers As of the August reference week, there were 288,204 decennial Census temporary workers. As of week of August 30 to September 5, there were 267,155 temp workers. That was a decrease of around 21,000 . Last week was the BLS reference week , and it seems likely there were even fewer temporary workers were on the payroll last week (to be released next week). This means the September employment report will show a decrease in temporary Census employment.  In August, the employment report showed a gain of 238,000 temporary 2020 Census workers, boosting the headline number.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:58 PM » JPMorgan CEO says a failure to think long-term is causing governments to make ‘really dumb decisions'
    Published Tue, Sep 15 2020 12:58 PM by CNBC
    Short-term thinking is causing governments around the world to make "really dumb decisions" on economic policy, according to J.P. Morgan CEO Jamie Dimon.
  • 12:56 PM » Inspector General Slams FEMA Over Repeatedly Flooded Homes
    Published Tue, Sep 15 2020 12:56 PM by www.npr.org
    At least 37,000 homes in the U.S. have flooded multiple times. The people who own them are eligible for federal help, but a new report finds that FEMA often fails to provide that assistance.
  • 11:04 AM » "Income, Poverty and Health Insurance Coverage in the United States: 2019"
    Published Tue, Sep 15 2020 11:04 AM by Calculated Risk Blog
    This survey was impacted by COVID, and the results are probably distorted (see last paragraph below). From the Census Bureau: Income, Poverty and Health Insurance Coverage in the United States: 2019 The U.S. Census Bureau announced today that median household income in 2019 increased 6.8% from 2018, and the official poverty rate decreased 1.3 percentage points. Meanwhile the percentage of people with health insurance coverage for all or part of 2019 was 92.0% and 8.0% of people, or 26.1 million, did not have health insurance at any point during 2019, according to the 2020 Current Population Survey Annual Social and Economic Supplement (CPS ASEC). Median household income was $68,703 in 2019, an increase of 6.8% from the 2018 median. Between 2018 and 2019, the real median earnings of all workers increased by 1.4% , while the real median earnings of full-time, year-round workers increased 0.8%. The official poverty rate in 2019 was 10.5%, a decrease of 1.3 percentage points from 11.8% in 2018. This is the fifth consecutive annual decline in the national poverty rate. Since 2014, the poverty rate has fallen 4.3 percentage points, from 14.8% to 10.5%. The 2019 poverty rate of 10.5% is the lowest rate observed since estimates were initially published for 1959. The number of people in poverty in 2019 was 34.0 million, 4.2 million fewer people than 2018. ... While the Census Bureau went to great lengths to complete interviews by telephone, the response rate for the CPS basic household survey was 73% in March 2020, about 10 percentage points lower than in preceding months and the same period in 2019, which were regularly above 80%. The change from conducting first interviews in person to making first contacts by telephone contributed to the lower response rates and it is likely that the characteristics of people for whom a telephone number was found may be systematically different from the people for whom the Census Bureau was unable to obtain a telephone number. emphasis added
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:01 AM » 26% of Americans have taken advantage of some type of payment deferral plan
    Published Tue, Sep 15 2020 10:01 AM by CNBC
    About one in four Americans say that because of Covid-19, they've taken advantage of some sort of payment deferral program. Navigating these programs can be challenging, but experts say that taking some simple steps and doing your homework can help you avoid pitfalls.
  • 9:50 AM » Industrial Production Increased 0.4 Percent in August; Still 7.2% Below Pre-Crisis Level
    Published Tue, Sep 15 2020 9:50 AM by Calculated Risk Blog
    From the Fed: Industrial Production and Capacity Utilization Industrial production rose 0.4 percent in August for its fourth consecutive monthly increase. However, even after the recent gains, the index in August was 7.3 percent below its pre-pandemic February level. Manufacturing output continued to improve in August, rising 1.0 percent, but the gains for most manufacturing industries have gradually slowed since June. Mining production fell 2.5 percent in August, as Tropical Storm Marco and Hurricane Laura caused sharp but temporary drops in oil and gas extraction and well drilling. The output of utilities moved down 0.4 percent. At 101.4 percent of its 2012 average, the level of total industrial production was 7.7 percent lower in August than it was a year earlier. Capacity utilization for the industrial sector increased 0.3 percentage point in August to 71.4 percent , a rate that is 8.4 percentage points below its long-run (1972-2019) average but 7.3 percentage points above its low in April. emphasis added Click on graph for larger image. This graph shows Capacity Utilization. This series is up from the record low set in April, but still well below the level in February 2020. Capacity utilization at 71.4% is 8.4% below the average from 1972 to 2017. Note: y-axis doesn't start at zero to better show the change. The second graph shows industrial production since 1967. Industrial production increased in August to  101.4. This is 7.2% below the February 2020 level. The change in industrial production was below consensus expectations, however industrial production in June and July were revised up.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:27 AM » Strong Year-over-Year Gains for July Single-Family Permits
    Published Tue, Sep 15 2020 9:27 AM by eyeonhousing.org
    Over the first seven months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 525,623. On a year-over-year (YoY) basis, this is an 5.8% increase over the July 2019 level of 496,726. Year-to-date ending in July, single-family permits across the four regions ranged from an increase of 8.6% in the South to a decline of 1.7% in the Northeast.... Read More › The post Strong Year-over-Year Gains for July Single-Family Permits first appeared on Eye On Housing .
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:14 AM » The Federal Reserve will stay on hold until 2023, according to CNBC survey
    Published Tue, Sep 15 2020 9:14 AM by CNBC
    The Federal Reserve will keep interest rates at near zero until February 2023, according to latest CNBC Fed Survey.
  • 9:14 AM » U.S. bond yields rise ahead of Federal Reserve meeting
    Published Tue, Sep 15 2020 9:14 AM by CNBC
    U.S. government debt prices dropped Tuesday ahead of Federal Reserve meeting scheduled this week.
  • 9:14 AM » Some economists predict coronavirus could end globalization, while others see the nature and rules of international collaboration changing
    Published Tue, Sep 15 2020 9:14 AM by CNBC
    Some economists warn we have entered into an era of deglobalization, while others see small bright spots for innovation. Nobel laureate Joseph Stiglitz, for example, said policymakers should view the move toward deglobalization as one that is focused on resiliency for the supply chain, not job protection. Watch the video to find out how other economists predict the coronavirus will impact globalization.
  • 9:14 AM » NY Fed: Manufacturing "Business activity expanded at a solid clip in New York State" in September
    Published Tue, Sep 15 2020 9:14 AM by Calculated Risk Blog
    From the NY Fed: Empire State Manufacturing Survey Business activity expanded at a solid clip in New York State, according to firms responding to the September 2020 Empire State Manufacturing Survey. The headline general business conditions index climbed thirteen points to 17.0. ... The index for number of employees held steady at 2.6, indicating little change in employment levels . The average workweek index rose fourteen points to 6.7, its first positive reading since the pandemic began, signaling an increase in hours worked. emphasis added This was above expectations, and showed activity expanded in September.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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