Construction jobs rose in April, but dipped in professional and business services, hospitality, trade, and transportation utilities. That said, another recent Department report notes that employers added 221,000 jobs in April and 280,000 in May, but the additions are not evenly spread across industries. Good news, bad news, depending on your profession The Labor Department reports that the number of hires in April fell to 5 million, which indicates a weak point in the strong report, and although the volume remains near recent highs, this indicates a talent gap and highlights the number of people who have left the labor market and given up on looking for a job. Read also: Does being beautiful mean a better career and more money? >Click to continue reading…<<<<< #CarsonHUD Carson said the Fair Housing Act is “one of the best pieces of legislation we’ve ever had in this country,” promising to issue a “world-class plan” for housing upon his confirmation… Given his lack of experience in housing, questions seemed to often center around protecting the LGBT community and veterans, both of which he pledged to support. The confirmation hearings yesterday were far less controversial than one would expect, especially in light of how many initially reacted to his nomination. Carson and said the industry looks forward to working with him. Brown said, “While we’ve made great strides in recent years, far more can be done to put the dream of homeownership in reach for more Americans.”Īt the time of nomination, the National Association of Realtors (the largest trade organization in the nation) offered a positive tone regarding Dr. Ben Carson’s name as the nominee for Secretary of Housing and Urban Development, NAR President William E. When President-Elect Donald Trump put forth Dr. With new varients popping up, we will have to keep an eye on how the trend ultimately plays out. People who retired due to the risk of the pandemic will return to work as new strategies emerge to reduce the risk to their health. Bureau of Labor Statistics projects that the pandemic-induced increase in retirement is only temporary. FedEx, for example, just got 111,000 applications in one week, the highest it has ever recorded. Employers are starting to see record number of applicants to most posted jobs. Employers aren’t creating or posting jobs that lure people out of retirement or those near retirement age.Īs Boomers retire, how does this impact the overall labor economy?Īccording to CNN Business, there are signs that the labor shortage is abating.Boomers have more options on the table than just returning to work. The robust real estate market has benefitted Boomers, who have more equity in their homes.Boomers are less willing to risk their health. Boomers are more concerned about catching COVID-19 than their younger counterparts, so they aren’t returning to work.It’s now being suggested that many of the people who have left the labor force since the beginning of the pandemic were older Americans, not Millennials or Gen Z, as we originally thought. It’s been suggested that the younger generations don’t want to work but retiring Boomers might be the bigger culprit.ĬNN Business reports that 90% of the Americans who left the workplace were over 55 years old. Just recently, CNN reported that in November another 3.6 million Americans left the labor force. Although there were many speculations about the reasons why, from “lazy” millennials to the number of deaths from Covid. With record numbers of resignations, there’s a huge labor shortage in the United States. In July, we reported on the Great Resignation. HUD has vowed to step things up as have other organizations but we have to wonder, with HAMP being such a colossal failure, how much more “overhaul” can our system handle? It seems like ever since Uncle Sam stepped into the scene to run Fannie and Freddie, everyone’s chomping at the bit to be a part of how it is run, take Barney Frank’s call for abolishing the agencies in lieu of whatever new agency he dreams up. “FHFA does not intend for the enterprises to undertake uneconomic or high-risk activities in support of the goals, nor does it intend for the enterprises’ state of conservatorship to be a justification for withdrawing support from these market segments,” the FHFA said in a statement. These goals would disallow them from buying home equity loans and Wall Street’s mortgage securities to prevent hazardous expansions to meet the FHFA requirements. The Federal Housing Finance Agency (FHFA) aims to set goals for Fannie Mae and Freddie Mac that would target borrowers with lower incomes (at or below 80% of the area’s median, down from 100%) and give the agencies increased flexibility in measuring success.
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