8/9: MetroIntelligence Econ Update, P.DUFFY

JOLTS:  June job openings rose 0.5 percent as surplus of open positions remains

Although overall job openings were nearly flat between the final days of May and June (rising by 0.5 percent to 6.7 million), hires fell 1.67 percent while separations rose 1.53 percent. With 6.6 million unemployed persons in June (falling to 6.3 million in July), there still likely remains a surplus of open positions.

READ MORE

 

July Employment Trends Index rose 5.4 percent year-on-year

The Conference Board Employment Trends Index™ (ETI) increased in July, after increasing in June. The index now stands at 109.89, up from 108.72 (a downward revision) in June. The change represents a 5.4 percent gain in the ETI compared to a year ago.

READ MORE

 

CoreLogic:  June homes up 0.7 percent from May and 6.8 percent year-on-year

CoregLogic:  June home prices increased nationally by 0.7 percent from May and 6.8 percent year over year. Looking ahead, the CoreLogic HPI Forecast indicates that the national home-price index is projected to continue to increase by 5.1 percent over the next year.

READ MORE

 

Consumer borrowing growth slowed in June as revolving credit use declined

Consumer borrowing slowed in June after hitting a six-month high in the prior month, but still rose at an annual rate of 3.1 percent.  Revolving credit, including credit cards, declined by 0.2% in June after rising 11.2% in May.  This is the second drop in credit-card use in the past four months. Nonrevolving credit, including auto and student loans, rose 4.4% in June, and has been rising at a relatively steady pace in recent months.

READ MORE