Tag: economic outlook

Historic Job Losses in April

Filed in Economics by on May 8, 2020 0 Comments
Historic Job Losses in April

Employment plunged in April, with a record total of 20.5 million jobs lost for the month. The unemployment rate increased to 14.7%. This level of loss and the unemployment rate are post-World War II highs, and represent a partial reflection of the 33.5 million jobless claims that have been filed over the last seven weeks.

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Economic Outlook: Job Losses Continue, Builder Confidence Posts Historic Drop

Filed in Economics by on April 17, 2020 4 Comments
Economic Outlook: Job Losses Continue, Builder Confidence Posts Historic Drop

NAHB Chief Economist Robert Dietz provides the latest analysis on how the COVID-19 pandemic is affecting the housing sector and overall economy. The next two months of economic data will show signs of a significant economic decline. For that reason, markets and businesses need to adopt a two-quarter perspective with respect to an expected start of a rebound.

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Economic Outlook: Layoffs Continue but Virus’ Growth Rate Slows

Filed in Disaster Response, Economics by on April 10, 2020 1 Comment
Economic Outlook: Layoffs Continue but Virus’ Growth Rate Slows

NAHB Chief Economist Robert Dietz provides the latest analysis on the effects of the COVID-19 pandemic on the economy: The wave of jobless claims continued this week with 6.6 million new claims, raising the total to over 16 million over the last three weeks. These numbers support our forecast for an unemployment rate that will temporarily rise to at least 13%.

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A Weekly Economic Update from NAHB’s Chief Economist

Filed in Disaster Response, Economics by on April 3, 2020 1 Comment
A Weekly Economic Update from NAHB’s Chief Economist

Accelerating job losses and the sudden drop in economic output imply significant declines for home construction and remodeling during the middle of 2020. However, construction continues to move forward on the majority of the 539,000 single-family homes and 671,000 apartments now in the construction pipeline.

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NAHB Chief Economist Provides Economic Update on Impact of COVID-19

Filed in Disaster Response, Economics by on March 27, 2020 0 Comments
NAHB Chief Economist Provides Economic Update on Impact of COVID-19

NAHB Chief Economist Robert Dietz examines incoming data showing the negative effects of the sudden stop for the economy. NAHB is forecasting significant declines for second quarter GDP, followed by an additional drop in the third quarter and a rebound in the final quarter of 2020.

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