REBusinessOnline

Initial Weekly Unemployment Assistance Claims Jump to 965,000 as Coronavirus Cases Climb

WASHINGTON, D.C. — An additional 965,000 Americans filed for first-time unemployment assistance for the week ending Jan. 9, the U.S. Department of Labor reported Thursday. Economists surveyed by Dow Jones expected the total to reach 800,000, similar to the previous week’s revised total of 784,000. A main reason for the increase in claims is further government restrictions due to the spike in COVID-19 cases and deaths. According to Johns Hopkins University (JHU), there have been 384,794 …

Indoor Dining Expected to Resume Feb. 1 in Michigan

LANSING, MICH. — The State of Michigan has continued its ban on indoor dining, but is expected to lift the restriction beginning Feb. 1. Indoor dining will resume with “mitigation measures, capacity limits and a curfew,” according to the Michigan Department of Health and Human Services. For now, a new epidemic order issued by the department that is valid from Jan. 16-31 enables Michigan residents to participate in indoor group exercise and non-contact sports, as long as masks and social …

Detroit Auto Show Cancelled for 2021, Scaled-Down Version to Take Place in Pontiac

DETROIT — The Detroit auto show, officially known as the North American International Auto Show, has been cancelled this year, according to media reports. The show, which was originally scheduled to take place at TCF Center this summer and then postponed to September, will now be replaced by an event at a racetrack in Pontiac, about 20 miles northwest of Detroit. This reimagined version of the Motor Bella concept is scheduled to take place Sept. 21-26. Motor Bella, a showcase of European …

U.S. Economy Loses 140,000 Jobs in December, First Decline in Seven Months

WASHINGTON, D.C. — The U.S. economy lost 140,000 jobs in December, marking the first overall decrease since May 2020, the Department of Labor Statistics (BLS) reported Friday. Economists surveyed by Dow Jones had expected the report to show a gain of 50,000 jobs, still a muted expectation compared to November’s gains. The unemployment rate remained unchanged from November at 6.7 percent.The BLS highlighted increased COVID-19 cases and the effort to contain the pandemic as a major reason …

Exit from Pandemic Will Mirror a Butterfly’s Flight Path, Says Economist Peter Linneman

The U.S. economy’s exit from the COVID-19 pandemic will mirror the flight path of a butterfly, according to economist Dr. Peter Linneman. In other words, it will move forward but also up, down and sideways — quite erratic and not terribly fast.Linneman’s comments came during a “Walker Webcast” hosted by Walker & Dunlop CEO Willy Walker on Wednesday, Jan. 6.The butterfly stage will continue until enough people get vaccinated where Americans feel safe resuming pre-pandemic …

Additional 787,000 Americans File for First-Time Unemployment Assistance

WASHINGTON, D.C. — An additional 787,000 Americans have filed for first-time unemployment assistance for the week ending Jan. 2. Economists surveyed by Dow Jones expected the total number of claims to reach 815,000. The most recent figure was a slight decrease from the previous week’s revised number of 790,000, but still about four times higher than the week ending Jan. 4, 2020, when claims totaled approximately 200,000. The four-week moving average decreased by 18,750 claims to 818,750. …

Total Number of Weekly Unemployment Claims Dips to 787,000 in Last Week of December

WASHINGTON, D.C. — A total of 787,000 Americans filed for first-time unemployment insurance assistance for the week ending Dec. 26, the U.S. Department of Labor reported Thursday, Dec. 31. The most recent figure marks a decrease of 19,000 claims from the previous week, though claims remain historically high compared to pre-pandemic numbers when claims hovered around 200,000 per week. Economists surveyed by Dow Jones expected the tally to rise to 828,000. The four-week moving average increased …

Freddie Mac, Fannie Mae to Extend Forbearance Programs to March 31, 2021

MCLEAN, VA. AND WASHINGTON, D.C. — McLean-based Freddie Mac and Washington, D.C.-based Fannie Mae have extended their forbearance programs for multifamily borrowers that have been impacted by the COVID-19 pandemic. Under the programs, multifamily landlords whose properties are financed with a Freddie Mac or Fannie Mae loan can defer their loan payments by showing hardship as a consequence of COVID-19, and by gaining lender approval. The extension now runs through March 31, 2021. The programs …

First-Time Unemployment Claims Dip to 803,000, But Remain at Elevated Level

WASHINGTON, D.C. — Another 803,000 Americans have filed for initial unemployment insurance assistance for the week ending Dec. 19, the U.S. Department of Labor reported Wednesday. The total is a decrease of 89,000 claims from the prior week’s revised level. Economists surveyed by Dow Jones expected the number to reach 888,000. The four-week moving average increased by 4,000 claims to 818,250. Continuing claims, for which data lags a week, dipped by 200,000 to 5.3 million for the week ending …

OfficeSpace Survey: 71 Percent of Employed Americans Eager to Return to the Office

ATLANTA — The trend of working remotely swept the nation as a result of the COVID-19 pandemic this year. While some are relishing the opportunity to test drive their home offices, a large number of Americans are ready to return to the workplace.According to a recent survey of employed Americans commissioned by OfficeSpace Software, 71 percent of respondents currently working from home are eager to move back to the office once it is safe to do so. Over 70 percent indicated that they feel …

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