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A Dozen Mid-March Economic Nuggets

Monday, March 13th, 2017

Article source: ConstructConnect

Further big improvements in America’s labor market statistics at the beginning of this year – with net new jobs creation climbing by almost half a million (+473,000) and the unemployment rate falling to a tight 4.7% − have convinced many analysts that the Federal Reserve will be acting quite aggressively in 2017 to hike interest rates. Where before there was an expectation that the federal funds rate would be lifted two or three times through December, by 25 basis points on each occasion (with 100 basis points equaling 1.00%), the consensus now is for an upward adjustment more frequently, either three or four times.

The Fed is probably hoping to attain, in easy-to-absorb stages over this year and next, a key policy-setting rate close to 3.00%. Nor are stock markets viewing such a prospect with anything like the same amount of dread as in the not so distant past. Share prices have been on a roll that has taken them to all-time highs.

Canada’s most recent employment report had a bottom line figure that wasn’t particularly outstanding (i.e., net new jobs of +15,000 in February), but included in the detail was an impressive increase in full-time staffing (+105,000), with most of the gain (+84,000) coming among what are termed ‘core-aged’ women (i.e., females 25-to-54 years of age).
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Where Job Prospects are Brightest and Home Ownership is Cheapest

Friday, November 6th, 2015

Article source: CMDGroup

Tables 1 and 2 accompanying this Economy at a Glance compare labor markets with home prices in major U.S. and Canadian cities.

The reason for conducting this analysis can be summed up succinctly. It shows where job prospects are brightest while home ownership is cheapest.

The labor market ‘composite’ ranking has been based on an assessment of two criteria: year-over-year employment growth (from fastest to slowest) and unemployment rates (from lowest to highest).

Median or average home prices (and their year-over-year percentage changes) can be found at the web sites of the National Association of Realtors (NAR) and the Canadian Real Estate Association (CREA).

It would be interesting to draw a line connecting every city to its doppelganger in the tables, but that would yield a confusing blizzard. Therefore, only ones in support of this EAAG’s headline are shown.

From the U.S. table, it’s clear that San Jose (2) and San Francisco (5) have strong labor markets that are accompanied by high home prices – i.e., on the right side of the table, they have corresponding rankings of (1) and (2) respectively.

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