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Employment by wage level, claims, durable goods, pending home sales, steel prices

Summary:
Claims continue to drift lower but are still about double what they were pre covid: Continued claims are also about double pre covid levels: Fell back some and still below pre covid highs.This chart is not adjusted for inflation: Same pattern of recent weakness: Pending home sales in the US surged 51.7 percent year-on-year in April of 2021, the biggest increase ever amid a low base effect from last year when sales sank at a record pace because of the pandemic. All four US regions recorded year-over-year increases. On a monthly basis however, pending home sales dropped 4.4 percent, compared to forecasts of a 0.8 percent rise, with only the Midwest witnessing month-over-month gains. “Contract signings are approaching pre-pandemic levels after the big surge due to the lack of

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Employment by wage level, claims, durable goods, pending home sales, steel prices
Claims continue to drift lower but are still about double what they were pre covid:

Employment by wage level, claims, durable goods, pending home sales, steel prices
Continued claims are also about double pre covid levels:

Employment by wage level, claims, durable goods, pending home sales, steel prices
Fell back some and still below pre covid highs.
This chart is not adjusted for inflation:

Employment by wage level, claims, durable goods, pending home sales, steel prices
Same pattern of recent weakness:

Pending home sales in the US surged 51.7 percent year-on-year in April of 2021, the biggest increase ever amid a low base effect from last year when sales sank at a record pace because of the pandemic. All four US regions recorded year-over-year increases. On a monthly basis however, pending home sales dropped 4.4 percent, compared to forecasts of a 0.8 percent rise, with only the Midwest witnessing month-over-month gains. “Contract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes,” said Lawrence Yun, NAR’s chief economist. “The upper-end market is still moving sharply as inventory is more plentiful there”. Yun anticipates housing supply to improve as a whole as soon as autumn. He points to an increase in the comfortability of those listing, as well as a rise in sellers after the conclusion of the eviction moratorium or as they exit forbearance. source: National Association of Realtors

Employment by wage level, claims, durable goods, pending home sales, steel prices

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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