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First-Time Weekly Jobless Claims Fall to 787,000, A New Pandemic Low

WASHINGTON, D.C. — The number of Americans filing for first-time unemployment insurance fell to 787,000 for the week ending Oct. 17, according to the U.S. Department of Labor. The most recent figure is the lowest weekly total since the onset of the coronavirus pandemic in mid-March but is still about four times higher than February of this year when totals hovered around 200,000. Economists surveyed by Dow Jones expected claims to reach 875,000 for the week.The four-week moving average …

US Retail Sales Rise 1.9 Percent in September, Beating Economists’ Expectations

WASHINGTON, D.C. — Retail sales increased 1.9 percent month-over-month in September, the U.S. Commerce Department reports. The most recent figure is 70 basis points higher than what economists surveyed by MarketWatch had forecast. Total sales reached $549.3 billion in September, which marked the fifth consecutive month of retail sales growth amid the coronavirus pandemic. In February, the total monthly spending reached $527 billion.According to the National Retail Federation (NRF), the …

MBA: 6.2M Households Miss Mortgage or Rent Payments in September; 26M Student Debt Borrowers Miss Loan Payments

WASHINGTON, D.C. — More than 6 million households missed a mortgage or rent payment in September, according to the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA). The number of homeowners who missed a payment last month stood at 3.4 million, or 7.1 percent of all U.S. homeowning households. The number of renters who missed, delayed or made a reduced payment was 2.8 million, or 8.5 percent of U.S. renters. Additionally, the number of renters receiving …

First-Time Unemployment Claims Jump to 898,000

WASHINGTON, D.C. — First-time unemployment claims totaled 898,000 for the week ending Oct. 10, according to the U.S. Department of Labor. Economists surveyed by Dow Jones expected the weekly figure to come in at 830,000 claims. The most recent figure is an increase of 53,000 claims from the previous week’s revised total of 845,000. The four-week moving average increased by 8,000 to 866,250. Continuing claims, for which data is a week behind, fell by 1.2 million to 10 million for the week …

ULI Panelists Address Social Inequity, Urban Exodus in Emerging Trends Session

The U.S. commercial real estate industry is currently balancing a host of market disruptors, and the good news is that those forces are no longer shrouded in mystery like they were at the onset of the COVID-19 pandemic. Speaking at the annual ULI Fall Meeting, real estate professionals outlined social inequity in the industry, teleworking, and the population and investment exodus from gateway markets as the main issues that the industry will face in 2021.The Urban Land Institute (ULI) …

NMHC: 79.4 Percent of Apartment Dwellers Paid October Rent, Up 300 Basis Points from September

WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has found that 79.4 percent of renters made at least a partial rent payment as of Oct. 6. NMHC surveyed its network of 11.4 million professionally managed units as part of its Rent Payment Tracker metric. The number of households paying rent this month is up from Sept. 6, when 76.4 percent of renters made a payment. The Washington, D.C.-based organization also reports that the figure is unchanged from Oct. 6, 2019.NMHC …

First-Time Unemployment Assistance Hits Lowest Level of Pandemic at 840,000 Claims

WASHINGTON, D.C. — Another 840,000 Americans filed for first-time unemployment insurance assistance for the week ending Oct. 3, the U.S. Department of Labor reported Thursday. The most recent figure represents the lowest weekly total of first-time claims since the coronavirus caused a nationwide shutdown in mid-March. Economists surveyed by Dow Jones expected 825,000 claims for the week. The figure for the week ending Oct. 1 is down slightly from the prior week’s revised number, when …

AGC: Construction Sector Adds 26,000 Jobs in September

WASHINGTON, D.C. — The Associated General Contractors of America (AGC) reported last week that the construction industry grew by 26,000 jobs in September. The Washington, D.C.-based organization reported that most of the gains were in single-family housing, with the subsector adding 22,100 jobs. Employment in the infrastructure and nonresidential building construction sector remained little changed. The AGC also reports that the sector’s unemployment rate stood at 7.1 percent as of the end …

U.S. Economy Gains 661,000 Jobs in September, Unemployment Rate Drops to 7.9 Percent

WASHINGTON, D.C. — The U.S. economy added 661,000 jobs in September, coming up shy of expectations, the U.S. Bureau of Labor Statistics (BLS) reported Friday. Economists surveyed by The Wall Street Journal expected the most recent figure to clock in around 850,000 jobs gained. The economy has now recovered 11.4 million of the 22 million jobs lost since the beginning of the pandemic. Additionally, the unemployment rate fell 50 basis points from August to 7.9 percent.The leisure and …

Weekly Jobless Claims Total 837,000, Beating Economists’ Expectations and Lowest Total During Pandemic

WASHINGTON, D.C. — Initial weekly jobless claims totaled 837,000 for the week ending Sept. 26, the U.S. Department of Labor reported Thursday. Although still historically high, the number of claims is the lowest since the onset of the coronavirus pandemic in mid-March. Economists surveyed by Dow Jones expected the total number of Americans filing for unemployment insurance to total 850,000 for the week. The most recent figure is a decrease of 36,000 claims from the previous week’s revised …

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