New applications for U.S. jobless benefits fell more than expected last week, but the labor market appears to be cooling, with the number of Americans on unemployment rolls surging to more than a 1-1/2-year high at the end of 2019. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 214,000 for the […]
Tag: U.S. Economy
US home prices gains accelerate in October for 2nd month
U.S. home prices rose faster in October than the previous month as many would-be buyers competed for a limited supply of available properties. The S&P CoreLogic Case-Shiller 20-city home price index rose 2.2% in October from a year ago, up from a 2.1% annual gain in September. The Tuesday report suggests that home price increases […]
Homebuilder confidence jumps to highest level in 20 years
A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades. Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything […]
Mohamed El-Erian sees US-China economic war beyond trade after voting
Economist Mohamed El-Erian told CNBC on Monday that he doesn’t think the phase one trade agreement is the first step to a long-term cooling in U.S.-China relations. In fact, the chief economic advisor at Allianz said he believes that the tensions will be further inflamed after the upcoming 2020 presidential election ends. “I think past […]