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Wage & salaries are somewhat stronger in Q2.
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Benefits moderate in Q2 after Q1 surge.
Introducing
Carol Stone, CBE
in:Our Authors
Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
Publications by Carol Stone, CBE
USA| Jul 29 2022U.S. Employment Costs Advance 5.1% Over a Year Ago
USA| Jul 27 2022U.S. Mortgage Applications Decrease for a Fourth Straight Week
• Purchase & refinancing applications both decline again.
• Fixed-rate mortgage rates ease modestly; other rates also little changed.
USA| Jul 26 2022U.S. FHFA House Price Advance Moderates Slightly in May
• House prices rose "just" 1.4% in the month, but maintain strong year-to-year pace.
• Prices gain in every region, though Pacific and Mid Atlantic slow noticeably.
• General business activity lowest since May '20; future general business activity rebounds.
• Production up slightly in July; new orders down again.
• Prices received and prices paid still strong, but noticeably less than in June.
USA| Jul 15 2022Empire State Manufacturing Index Rises Back Above Zero
• Shipments increase at more companies.
• New orders have modest net improvement.
• Share of companies paying higher prices still high but shows some easing.
USA| Jul 14 2022U.S. Initial Unemployment Claims Up Again
• Initial claims increased 9,000 to 244,000 in the July 9 week.
• But continued claims eased 41,000 in the July 2 week.
• The insured unemployment rate returned to record low of 0.9%.
USA| Jun 15 2022U.S. Mortgage Applications Rebound in June 10 Week
- Both purchase and refinance loan applications increased.
- Both fixed rate and adjustable rate loan applications increased.
- Interest rate on 30-year fixed rate loan highest since November 2008.
- Q1 borrowing largest ever, except for early 2020 COVID recession period.
- Federal government generated biggest increase in Q1.
- Household borrowing, especially mortgages, was also sizable.
USA| Jun 02 2022U.S. Productivity Revised to Show Slightly Smaller Decrease in Q1, as Compensation Higher
- Nonfarm productivity fell at 7.3% annual rate in Q1.
- Compensation growth revised up meaningfully, especially in manufacturing.
- Unit labor cost growth revised up on upward compensation revision.
USA| Jun 01 2022U.S. JOLTS: April Job Openings Ease Slightly from All-Time High
- The number of job openings falls 455,000 in April, but still historically very large.
- New hires also ease, but remain sizable.
- Quits and layoffs decrease.
USA| May 12 2022U.S. Unemployment Claims Edge Upward
- Initial claims increase 1,000 to 203,000.
- Continued weeks claimed fell again to a new 52-year low.
- Insured unemployment rate remained at record low of 1.0%.
USA| May 04 2022U.S. Mortgage Applications Turn Upward After 7 Weekly Declines
- Total applications up 2.5%.
- Loans to purchase a house rise 4.1%, refinance loans manage 0.2% increase.
- Mortgage interest rates ease slightly.
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