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US Jobless claims drop to lowest level in nearly 45 years

Trump thumbs up

January 19,2017
the staff of the Ridgewood blog

Washington DC,the Trump Bump has turned into the Trump Jump. The US Jobless claims drop to lowest level in nearly 45 years .The Washington Examiner reports that “new applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the Labor Department reported Thursday”—the lowest level they’ve reached in nearly 45 years. “Low jobless claims are a good sign because they suggest that layoffs are relatively scarce,” Joseph Lawler writes.

According to Federal Reserve data reported by Bloomberg, “U.S. factory production rose for a fourth straight month in December, capping the strongest quarter since 2010 and underscoring a resurgence in manufacturing that’s primed for further advances.” What’s driving the uptick? “Stronger consumer spending, increased business investment and more shipments of merchandise to overseas customers are providing plenty of fuel for the nation’s producers,” Katia Dmitrieva writes.

Christopher Buskirk writes in USA Today that President Donald J. Trump’s first year in office has been a story of promises kept. “By every measure of personal and national prosperity, the nation is better off than it was a year ago, and it’s thanks to the integrity of our leader,” Buskirk writes.

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Trump Jump Hits US private Sector Creating 298K jobs in February

Pence and  Trump

March 8,2017

the staff of the Ridgewood blog

Ridgewood NJ, the Trump jump continues with companies adding more jobs than expected in February. There was also a notable shift away from the service-sector positions that have dominated hiring for years.

President Trump had tweeted on Monday, “There is an incredible spirit of optimism sweeping the country right now—we’re bringing back the JOBS!”

ADP and Moody’s Analytics reported today that the private sector surged by 298,000 for the month, with goods producers adding 106,000, Construction jobs jumping 66,000 and manufacturing added 32,000.

The 298,000 total shattered market expectations of 190,000, according to economists surveyed by ADP.

Trump tweeted this morning, “LinkedIn Workforce Report: January and February were the strongest consecutive months for hiring since August and September 2015”

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AMERICANS BUY EXISTING HOMES AT FASTEST PACE IN A DECADE

ridgewood real-estate

file photo by Boyd Loving

BY CHRISTOPHER S. RUGABER
AP ECONOMICS WRITER

WASHINGTON (AP) — Americans shrugged off rising mortgage rates and bought existing homes in January at the fastest pace since 2007. That has set off bidding wars that have pushed up prices as the supply of available homes has dwindled to record lows.

Home sales rose 3.3 percent in January from December to a seasonally adjusted annual rate of 5.69 million, the National Association of Realtors said Wednesday.

Steady job gains, modest pay raises and rising consumer confidence are spurring healthy home buying even as borrowing costs have risen since last fall. Some potential buyers may be accelerating their home purchases to get ahead of any further increases in mortgage rates. With few homes available for sale, buyers are pressured to rapidly close a deal as they find a suitable property.

The typical house for sale was on the market for just 50 days last month, compared with 64 days a year ago. Strong demand is pushing up median home prices, which jumped 7.1 percent from a year earlier to $228,900.

Just 1.69 million homes were on the market nationwide in January, near the lowest level since records began in 1999. It would take just 3.6 months to deplete that supply at the current pace of sales, matching a record low reached in December. Supply is usually equal to about six months of sales in a balanced housing market.

The supply crunch will likely get worse during the upcoming spring buying season, economists say, as demand typically rises by more than supply during that time.

https://hosted.ap.org/dynamic/stories/U/US_HOME_SALES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2017-02-22-10-01-25