Tag Archives: recession

Jobless claims: put the recession on hold! (For now) For the last several months, there had been nearly a relentless slow increase in new jobless claims. That trend has broken, at least for now. Initial jobless claims declined by 2,000 to 243,000. The 4 week average, however, increased by 1,500 to 247,000.  Continuing claims declined -19,000 from their 4 month high water mark one week ago to 1,415,000: Claims had been trending almost...

Increasing trend in jobless claims continues; on track to give recession warning in November Initial jobless claims rose another 7,000 to 251,000 last week, an 8 month high. The 4 week average rose 4,500 to 240,500, a 7+ month high.  And continuing claims also rose 51,000 to 1,384,000, which is 78,000 above their 50 year low set on May 21: Three weeks ago I noted that reviewing the entire 50+ year history of initial claims, “there are almost...

Negative May and YoY real retail sales add to the foreboding signals of a recession next year Nominal retail sales for the month of May declined -0.3%, and April was revised down by -0.2% to +0.7%. This reduces April’s number, after inflation to +0.4%, followed by a “real” decline in May of -1.2% after rounding. YoY real retail sales were up 8.1%, but because inflation in the past 12 months has been 8.5%, real retail sales YoY is down -0.4%. Here...

In the U.S., we are told, the post-World War II period was a golden age of full employment. High wartime government spending had brought to an end the double-digit unemployment and misery of the Depression, and as war gave way to peace, unemployment settled at a non-inflationary level of 3-5%. It's known as the post-war "economic miracle".But it's a myth. There was never full employment. The low unemployment of the post-war years is a massive statistical fudge. In fact, over five million...

The worst interest rate upturn since 1994 is likely to produce the worst housing downturn in over a decade No economic news of note today; but tomorrow we will see housing permits and starts for March, and on Wednesday existing home sales. So let’s take an important look at housing. The recent increase in mortgage rates to over 5% is the most serious interest rate threat to housing in at least the past 30 years. As the below graph shows, the...

I’ve written a 750-word overview of the federal role in housing policy. The English-language version is here: https://nickfalvo.ca/canada-ten-things-to-know-about-the-federal-role-in-housing-policy/ The French-language version is here: https://nickfalvo.ca/canada-dix-faits-saillants-sur-le-role-du-federal-en-matiere-de-politique-du-logement/ Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton...

I’ve just written a report for Employment and Social Development Canada on the current recession’s likely long-term impact on homelessness in Canada. An overview of the report can be found here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is Section Editor of the Canadian Review of Social Policy/Revue canadienne de politique sociale. You can...

I am currently writing a report for Employment and Social Development Canada looking at the long-term impact of the current recession on homelessness. It should be ready by early November. In the meantime, a teaser blog post I’ve just written on the same topic is available here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is Section...

I am currently writing a report for Employment and Social Development Canada looking at the long-term impact of the current recession on homelessness. It should be ready by early November. In the meantime, a teaser blog post I’ve just written on the same topic is available here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is Section...

On July 21, the Alternative Federal Budget Recovery Plan was released. The document aims to provide public policy direction to Canada’s federal government, in light of the current COVID-19 pandemic. I was author of the Recovery Plan’s chapter on affordable housing and homelessness, which can be accessed here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve...