March 17, 2022

Housing Starts and Permits (February 2022)

- Starts - Annual Rate    1,769,000. Previous was 1,657,000

- Permits - Annual Rate    1,859,000. Previous was 1,895,000

A goal must be to keep starts above the 1.500,000 annual needed to accommodate expanded population and units lost. In addition we need 500,000 more starts per year to make up for 15 years of Starts less than 1,500,000.

SFR Starts were 1,215,000 which was +13.7% year/year.

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

 

Initial Jobless Claims (week ended 3/12/2022)

- Initial Claims seasonally adjusted  214,000. Previous was 229,000

- Initial Claims   unadjusted, totaled 2 12, a decrease of 16,981 (or 02,894 in the week ending March 7.7 percent) from the previous week. 

- 4-Week Moving Average seasonally adjusted  223,000. Previous was  231,250

Numbers below are for the week ended 2/26:

Total receiving regular state UI increased by 59,752 

Total receiving any UI decreased by 59,752

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

 

Industrial Production  (February 2022)

- Industrial Production month/month +0.51.4%.    Previous was +1.4%.

- Manufacturing Output month/month +1.2% . Previous was  0.2%

- Capacity Utilization Rate        77.6%. Previous was 77.3

- Industrial Production year/year +7.5%

Source:  Federal Reserve  Details: https://www7.federalreserve.gov/releases/g1/current/g17.pdf