Loading ...Jobs Shock: US Lost 92K Payrolls In February, Far Below Lowest Estimate, As Unemployment Rate Rises
In our nonfarm payrolls preview, we quoted JPMorgan’s Market Intel desk which said that “for this print, the stronger the better”, which by implication means that a poor number would be bad. By that logic, the payrolls report couldn’t be any worse…
https://www.zerohedge.com/markets/jobs-shock-us-lost-92k-payrolls-february-unemployment-rate-rises
Much of Canada in the same boat,
Home builders are warning Kelowna city council that the residential construction sector is under severe strain, and their policies aren’t helping to keep the industry alive or put people in affordable homes.
In a letter to mayor and council, the Central Okanagan Canadian Home Builders’ Association said a number of small builders are at a breaking point, due to policy decisions and rising costs threatening the viability of their businesses.
The typical Kelowna home builder constructs just three to five homes a year. Some have not pulled a building permit in more than two years, said the letter signed by board president Krista Paine and executive officer Cassidy deVeer.
Foreign born workers have lost 519,000 jobs over last year, while native born workers have gained 128,000 jobs.
Federal employees now down by 330,000 or 11% since peak govt employment in October 2024.
When you see home prices, how much is structure and how much is land (which is where the action has been)?
And everyone else’s land values has driven up the cost of building the structure.