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Tag Archives: U.S. Economy

Economists Predicting Good News for Job Market, Housing

A survey conducted among economists by the Federal Reserve Bank of Philadelphia on economic growth in the United States released on Friday revealed that predictions have been revised upward for the labor market – which means good news for the economy and for housing recovery.

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Treasury Secretary Lew Says More Wage Growth is Needed

The U.S. Bureau of Labor Statistics (BLS) reported last week that average hourly earnings increased by 12 cents from December to January ($24.63 to $24.75), but U.S. Department of Treasury Secretary Jacob Lew said on Monday more wage growth is needed.

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Index Reports Modest Gains for Housing Markets in Q4

The latest National Association of Homebuilders/First American Leading Markets Index (NAHB/LMI) released Thursday found that markets in 63 out of 351 metropolitan areas nationwide (about 18 percent) matched or exceeded their normal levels of economic and housing activity in Q4 2014, according to an announcement from NAHB.

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Unemployment Rate Falls, Payrolls Increase in Most Metro Areas

Continued labor market improvements may bode well for the housing market for the coming year, since housing relies on steady nationwide employment to flourish, according to some economists' predictions. The national unemployment rate continues to drop – December's rate of 5.4 percent is a decline of 1.1 percentage points from the same month a year earlier.

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Obama Stresses Nation’s Economic Growth in State of the Union Address

"The shadow of crisis has passed, and the state of the union is strong," the president said early in his speech. The nation has experienced "the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled, and health care inflation at its lowest rate in fifty years," Obama said. Obama touted the past year as "a breakthrough year for America" as job growth outpaced any year since 1999 and unemployment fell below pre-crisis levels.

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Fed Announces Formation of Community Advisory Council

The U.S. Federal Reserve Board announced the formation of a 15-member Community Advisory Council (CAC) to provide information, advice, and recommendations to the Board on emerging economic issues and relevant policy matters, according to an announcement from the Fed.

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Stronger Economic Fundamentals Expected to Drive Increases in Home Sales, Housing Starts in 2015

Improvements in economic fundamentals, notably employment growth among millennials, will fuel significant increases in home sales and housing starts and a modest rise in home prices in 2015, according to CoreLogic's 2015 Housing Outlook released earlier this week. Sam Khater, deputy chief economist for CoreLogic, predicted an increase of 9 percent in home sales and a 14 percent spike in housing starts for the coming year in the report.

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Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note

Fannie Mae's Economic & Strategic Research Group predicts in its December 2014 Economic Outlook that the U.S. economy will strengthen heading into 2015 following an up-and-down 2014 that ended on an unspectacular note. The Group is forecasting full-year growth of 2.1 percent for 2014, a full point below 2013's rate of growth, due to the reverse in the final quarter of some unsustainable forces that boosted the economy in the third quarter. However, the Group is predicting economic growth of 2.7 percent for 2015 based on firming consumer income prospects, rising consumer and business confidence, a broadening housing recovery, and reduced fiscal headwinds.

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