Up and down the West Coast, recent conversations about housing usually include the word “crisis”, as a few Google searches will attest. During the current expansion, the supply of new housing has not kept pace with employment growth, which drives demand for housing. In a recent post, I compared nonfarm payroll (NFP) employment growth to… Read more »
Monthly Archives: March 2017
This is a follow-up to my earlier post on 2016 Metro Area Employment Growth and Housing Permits. Reader “MetroGuy” suggested that I look at the H/E ratio (ratio of housing units per increase in employment) over a longer period. So this post evaluates the H/E ratio over the current expansion, from 2011 to 2016. Some… Read more »
The BLS released JOLTS data for January yesterday (here’s the BLS press release), so it’s time for a quick update on job openings. Total nonfarm job openings for January were down 97,000 from a year earlier, but as the BLS notes here in Table 7, that is not a statistically significant change. Comparing the distribution… Read more »
From the above graph it is apparent that real weekly earnings have barely grown since 2012.
Update: a more recent post (dated March 24) covers metro area employment growth and housing permits for the 2011 to 2016 period. The Census Bureau recently released 2016 housing permit numbers for metro areas (click here), so I decided to compare employment growth to housing permits. The idea is to see how planned increases in… Read more »
The DOL has released unemployment claims data for the week ending February 25 (see the DOL news release here). Initial claims show us a labor market that continues to improve, with the 4-week moving average as of February 25 at 234,250 down 10.3% from a year earlier (here’s a link to the FRED chart below):… Read more »