December 16, 2021

Housing Starts and Permits  (November 2021)

- Starts - Annual Rate    1,679,000. Previous was 1.502,000

- Permits - Annual Rate    1,712,000. Previous was 1,653,000

A goal must be to keep starts above the 1.500,000 annual needed to accommodate expanded population and units lost. We were below that from Jan. 2007 to Dec. 2019, went above that for 2 months and then had the COVID crash. If we have another month of greater than 1.5 million the homebuilding will have accomplished something not seen in 14 years.

SFR Starts were 1,173,000 which was -0.8% year/year.

Source:  Census  Details:  https://www.census.gov/construction/nrc/pdf/newresconst.pdf

 

Initial Jobless Claims (week ended 12/11/2021)

- Initial Claims seasonally adjusted  206,000. Previous was 188,000

- Initial Claims unadjusted, totaled 2267,509 in the week ending December 11, a decrease of 16,426 (or -5.8 percent) from the previous week

- 4-Week Moving Average seasonally adjusted  203,750. Previous was  218,750

Numbers below are for the week ended November 27.

- Total receiving regular state UI increased by 403,147 

- Total receiving Pandemic UI increased by  69,653 

- Total receiving Emergency Pandemic UI increased by 23,685   

- Total receiving any UI increased by 510,808  

Source:  Labor Department   Details: https://www.dol.gov/ui/data.pdf

 

Industrial Production  (November 2021)

- Industrial Production month/month +0.5%.    Previous was +1.6%.

- Manufacturing Output month/month  +0.7% . Previous was  +1.2%

- Capacity Utilization Rate        76.8%. Previous was 77.5%

- Industrial Production year/year +5.3%

Source:  Federal Reserve  Details: https://www.federalreserve.gov/releases/g17/current/g17.pdf