Inside the Economy: Unemployment, U.S. Net Worth, and New Home Sales

This week on Inside the Economy, we explore unemployment and jobs, U.S. net worth by households, and the housing market. Economic data suggests a potential return to trend growth. As of January, job openings reached 7.6 million, while unemployment peaked at 6.8 million. With recent developments regarding federal job cuts, potential reductions to the Department of Defense workforce have been considered. If a select percentage of these workers are laid off, what effect could that have on national unemployment? In other news, U.S. net worth has reached $170 trillion, primarily driven by housing and market investments. How much wealth is held by the average U.S. household compared to the rest of the world? New home sales fell 10% in January, but the overall level of home sales remains high when compared to 2010-2016. How has the multifamily sector performed in recent months? Tune in to learn more!

 

Key Takeaways:

• Durable Goods at 3.1%
• 10-year bond yield at 4.29%
• Crude Oil at $69.47 a barrel