Single-family home sales were curbed by a February chill, limited inventory, and a boost in the apartment sector.
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Employers demonstrated the strength of the U.S. labor market in February as it continued to shrug off lingering global economic uncertainty and softness in oil and gas industries. Jobs were created in multiple service sectors of the economy and at government agencies during the month, helping to maintain gauges of labor market capacity at tight levels. While wage growth continues to search for a stimulus that will impart greater traction, the U.S. labor market nonetheless… Read More
A substantial increase in supply ignited a steep decline in the price of crude oil over the past year. U.S. crude inventory has increased more than 20 percent since year-end 2014 and OPEC members continue to pump at elevated levels in an attempt to weaken U.S. producers. The supply glut and downward price pressure could potentially worsen as Iran ramps up production as sanctions are lifted and the U.S. exhausts storage capacity. These trends have… Read More
January hiring fell short of expectations but gains aligned to support commercial real estate.
U.S. employers pushed ahead with hiring plans in December to top off a strong year of job creation. The vigor of the U.S. labor market evident throughout 2015 will enable the Federal Reserve to place greater weight on inflation trends in guiding its monetary policy decisions this year.