US – Top 10 Wage Soaring Cities

October 26, 2013

The average wage of a U.S. worker was $1,000 per week in the fourth quarter of 2012, or 4.7% higher from the same time in 2011, according to the Bureau of Labor Statistics (BLS). In some areas, pay rose than 10%.

In other cities, however, there appears to be a single industry that is behind the significant change in the average wages. For example, in Midland and Odessa, Tex., and Cheyenne, Wyo., wages likely increased because of strong growth in the oil industry. In the two Texas cities, the mining, logging and construction industry, which includes oil-related employment, jobs grew by roughly 15% in each.

Read the rest of this entry »

US May Added 135,000 Jobs, upward from 113,000 in April

June 26, 2013

2013 MAY – The US private sector added 135,000 jobs in May, payrolls firm ADP, pointing to slowing jobs growth under the pressure of tax increases and government spending cuts.

ADP reported an increase of 135,000 private jobs in May, a pick-up from the downwardly revised 113,000 jobs in April.

“The softer job market this spring is largely due to significant fiscal drag from tax increases and government spending cuts,” Zandi said.

Read the rest of this entry »

US – 14 Cities Top Pre-recession Level, 6 in Texas

April 15, 2013

Robust employment in the oil and gas industries helped the Texas cities, although data from the Texas Workforce Commission suggests the job recovery has come from a variety of industries. Austin, San Antonio, El Paso, McAllen, Dallas and Houston all made the list, along with Oklahoma City, another energy town. The other cities on the list of 14 are: Omaha, Neb., Salt Lake City, Pittsburgh, San Jose, Calif., Knoxville, Tenn., Washington and Charleston, S.C.

Employers are hiring more readily across the U.S., though only 14 of the nation’s 100 biggest metropolitan areas have more jobs now than they did before the 2008-09 recession.

Read the rest of this entry »

US – Job Growth Slows

April 15, 2013

The US economy added just 88,000 jobs in March, well below expectations, according to figures released today that raise fears that the recovery is stalling in the world’s most important market.

This was well below the 200,000 new jobs expected by analysts.

The unemployment rate was little changed at 7.6 per cent, according to the US Bureau of Labor Statistics reported today. Employment grew in professional and business services and in health care but declined in retail trade.

Read the rest of this entry »

US – Job Growth Seen in 2012

February 7, 2013

Unemployment rates fell below 7 percent in a majority of U.S. cities in November, suggesting steady job gains are benefiting most parts of the country.

The Labor Department said Tuesday that rates fell in November from October in 215 of the 372 largest metro areas. Rates were unchanged in 33 and rose in 124.

Rates dropped below 7 percent in 192 cities. That’s the first time since the recession ended that more than half of large cities had rates below that threshold. And 52 had rates below 5 percent.

Major metropolitan areas with low unemployment rates in November included: Oklahoma City, 4.5 percent; New Orleans, 4.7 percent; Washington, 5 percent; Boston, 5.6 percent; and Phoenix, 6.5 percent. Bismarck, N.D., which is benefiting from an oil and gas drilling boom, recorded the lowest unemployment rate, at 2.6 percent.

Nationwide, the unemployment rate ticked down to 7.8 percent in November from 7.9 percent the previous month. That occurred mostly because more Americans out of work gave up looking for jobs and were not counted as unemployed.

Read the rest of this entry »

US – Home Construction Boom Led By Apartment Demand

February 7, 2013

Total housing starts rose 12% vs. November to an annualized 954,000, the Commerce Department reported. That’s the most in 4-1/2 years and far above the 887,000 expected. Construction on housing with five or more units shot up 23%. Single-family starts were up 8%.

The strong construction figures and a five-year low in jobless claims helped push the S&P 500 to a fresh five-year high. That’s despite a weak report on mid-Atlantic manufacturing.

Read the rest of this entry »

US – Apartment Rent Growth Expects to be 3%, same in 2012 compared to 4.8% in 2011

February 7, 2013

Effective rents for new leases in the U.S. apartment sector climbed 3.0 percent during 2012, according to MPF Research, an industry-leading market intelligence division of RealPage.  The annual rent growth pace slowed throughout the year, after the rate of increase reached 4.8 percent in 2011.

Rent growth over the past year remained a bit above the long-term norm of 2.5 percent recorded during the past two decades. An increase of 3.0 percent is similar to the average results posted during past periods when occupancy was sustained at strong and generally stable levels, according to MPF Research. Comparable annual price increases registered most recently from 2005 through the middle of 2008, and before that in the middle to late 1990s.

Read the rest of this entry »