The sunbelt cities of Nashville, Tennessee, Austin, Texas and Jacksonville, Florida are among the hottest job markets in the country right now, according to an assessment of 380 metro areas conducted by the Wall Street Journal and Moody’s Analytics.
Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate.
Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP.
The yield on the benchmark U.S. 10-year Treasury note climbed on Wednesday after two straight days of declines, as economic data failed to reinforce recent hopes the U.S. Federal Reserve might pivot to a less hawkish policy stance.
Today, Governor Ron DeSantis announced Florida’s unemployment rate dropped to a historic 2.7 percent in July as the state’s job creation skyrocketed. Florida’s July 2022 unemployment rate is the lowest since February 2020 and this level has only been reached three times since Florida began recording unemployment data in 1976.
The U.S. labor market remained red-hot in July despite expectations job growth would cool as tighter monetary conditions and company layoffs stoked fears of a recession.
More than two years after the virus pandemic upended the world of work, signs of distress in commercial real estate markets are emerging. The world is transitioning from an artificial landscape of ultra-accommodative monetary and fiscal stimuli that inflated returns to an environment where the federal government and the Federal Reserve tighten financial conditions.
Following the unexpectedly large decline in existing home sales (directionally not unexpected given the surge in mortgage rates, plunge in mortgage apps, slump in homebuilder sentiment, drop in building permits, and weakening in labor market signals that are emerging), analysts expected new home sales to slide 1.8% MoM in April.
Federal Reserve Chairman Jerome Powell beat back the market’s most aggressive predictions for the path of interest rates Wednesday, setting off a dovish surge in stocks and bonds.
In the week ending April 28, 2022, mortgage rates fell for the first time in eight weeks. 30-year fixed rates slipped by 1 basis point to 5.10%. 30-year fixed rates rose by 11 basis points in the week prior.