Home / Author Archives: Mark Lieberman (page 5)

Author Archives: Mark Lieberman

Mark Lieberman is the former Senior Economist at Fox Business Network. He is now Managing Director and Senior Economist at Economics Analytics Research. He can be heard each Friday on The Morning Briefing on POTUS on Sirius-XM Radio 124.

Commentary: Disappointing Jobs Report? Says Who?

""Beauty,"" Lew Wallace, the author of ""Ben Hur,"" once wrote, ""is altogether in the eye of the beholder."" So, it seems, is ""disappointment""-- at least when it comes to describing or characterizing the employment report for July, which showed 162,000 new payroll jobs and a drop in the unemployment to 7.4 percent. The disappointment came not from the unemployment rate--the lowest since September 2008--but from the creation of ""only"" 162,000 jobs. To be sure, the people who are ""disappointed"" are those forecasters who predicted more jobs would be created.

Read More »

Spending Up Faster Than Income in June

Personal spending in June grew 0.5 percent, its fastest pace February while personal income rose 0.3 percent ,the Bureau of Economic Analysis reported Friday. Economists had expected income and spending each to grow 0.4 percent. By the numbers, income grew $45.4 billion, while spending was up $59.4 billion, the largest month-over-month increase since February when spending rose $75.7 billion.

Read More »

Payrolls Up 162K in July; Unemployment Rate Down to 7.4 %

The nation's economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent. Average weekly hours fell to 34.4, compared with forecasts of 34.5, and average hourly earnings fell two cents. Despite the increase in jobs, the report could have a major negative impact on the broader economy, as it showed more people with jobs but working fewer hours and for less money.

Read More »

First-Time Unemployment Claims Plunge to 5-Year Low

First-time claims for unemployment insurance dropped to the lowest level in five years, falling 19,000 to 326,000 for the week ending July 27, the Labor Department reported Thursday. Economists expected the number of claims to edge up to 345,000 from the 343,000 originally reported for the week ending July 20. The number of filings for that week was revised to 345,000.

Read More »

FOMC Issues Mortgage Rate Warning

The FOMC voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month bond-buying program. In a subtle change of language designed to assuage nervous stock investors, the FOMC statement said the committee ""reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens.""

Read More »

Q2 GDP Grows 1.7%, Exceeds Expectations

The nation’s economy grew at a 1.7 percent annual rate in the second quarter, the Bureau of Economic Analysis reported Wednesday. Growth exceeded economist forecasts but remained slower than the growth rate needed to add jobs. In the first quarter, GDP grew 1.1 percent and in the second quarter last year, the economy grew at a 1.2 percent annualized rate.

Read More »

Weak Household Formation Hampers Housing

The number of households owning homes rose a scant 32,000 in the second quarter, but the homeownership rate remained at 65.0 percent, the lowest level in 18 years, the Census Bureau reported Tuesday. At the same time, the Census Bureau data showed the number of new household formations dropped dramatically in the first half of the year, an average of about 500,000 new households per month compared with 1.4 million new households per month in 2012.

Read More »

Case-Shiller Indices Near Five-Year High

Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the ""Case-Shiller Home Price Indices released Tuesday. The 20-city index was up 12.2 percent from a year earlier, and the companion 10-city index was up 11.8 percent. For the month, the 10-city index rose 2.5 percent and the 20-city index was up 2.4 percent. The 10-city index rose to its highest level since September 2008, and the 20-city index to its highest level since October 2008.

Read More »

Pending Home Sales Index Falters in June

The National Association of Realtors' (NAR) Pending Home Sales Index (PHSI) slipped 0.4 percent in June to 110.9 in response to higher mortgage rates. Economists had expected the index to drop to 110.7, which would have been a 1.4 percent decline from May's originally reported 112.3. The May index was revised down to 111.3. With the revision, the May index, originally reported as the highest in six years, matched the level of April 2010.

Read More »

Commentary: Magical Mystery Tour

President Obama embarked this week on a series of speeches designed to highlight the nation’s continued economic stress. The immediate response and from both ends of the political spectrum was to decry his efforts as same-old, same-old. And, it is true the President has made this pitch before, emphasizing that the significant progress has made is not enough.

Read More »

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.