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Posts Tagged ‘bureau of labor’

Indiana County has Highest Job Growth in the Nation

July 2nd, 2013 Comments off

Elkhart County in northern Ind. topped the nation for job growth in 2012 with a rate of 7.4 percent from Dec. 2011 to Dec. 2012, as compared to a national rate of 1.9 percent, according to the U. S. Bureau of Labor Statistics. The county, and neighboring LaGrange County, are the hubs of recreational vehicle production, the sister industry of manufactured housing (MH), turning out 83 percent of the nation’s RV’s. Manufacturing employment grew 11.6 percent in the county last year, adding 5,479 jobs, rvbusiness states. As MHProNews knows, the area is also home to several MH builders as well as component suppliers to the factory-built home industry.

(Photo credit: Wikipedia–manufactured home chassis)

Shortage of Skilled Tradespeople may Slow Recovery

June 24th, 2013 Comments off

A shortage of skilled trades workers combined with tight credit and lack of available finished lots may slow the housing market rebound, according to Fitch Ratings, although the only likely downside is a longer construction timeline. Prior to the Great Recession, over eight million construction workers were employed, but according to the Bureau of Labor Statistics, as of May 2013 that number stood at 5.8 million. Many tradespeople left the field during the downturn and have not returned, feeding into the shortage. Currently, as HousingWire tells MHProNews, the only areas experiencing shortages are metro markets recovering faster than the national average, such as those in Fla., Calif., Nev., and Ariz.

(Photo credit: HousingWire)

Elkhart Tops the Nation

April 1st, 2013 Comments off

RVBusinses informs MHProNews Elkhart County, Indiana led the nation in job growth for the period Sept 2011 to Sept. 2012  for the largest U. S. counties, with 6.9 percent versus the national rate of 1.6 percent, according to the Bureau of Labor Statistics. While Elkhart hosts several component suppliers to the manufactured and modular housing industry, it is definitely home to MH’s sister industry, the recreational vehicle (RV) business, producing 83 percent of all North American RV’s, says the Recreation Vehicle Industry Association (RVIA). Approximately half of all employment in the county is related to RVs, which saw shipments grow 13.6 percent last year.

(Photo credit: Wikipedia–Chateau Sports Class RV)

Boomers Head into the Sunset Pinched

October 9th, 2012 Comments off

According to Senior News Weekly, the National Center for Policy Analysis (NCPA) reports Baby Boomers 45-64 are experiencing high mortgage and health care expenses while their retirement and savings dwindle, leaving them short of sufficient income to retire. Real incomes for those middle-aged to older have stagnated in the last 20 years, and boomers have not saved the recommended ten percent of their incomes annually. Using data from the Bureau of Labor Statistics’ Consumer Expenditure Survey, the report states the age of the first-time home-buyer rose from 28 in 1985 to 35 in 2011, which increases the likelihood of a mortgage being carried into pre-retirement years. As MHProNews has learned, the NCPA recommends reforming the income tax system and making all types of savings tax-neutral.

(Photo credit: Rich Saal/State Journal Register)

Lending Industry Adds Employees

October 5th, 2012 Comments off

Friday’s jobs reports from the U.S. Bureau of Labor Statistics shows mortgage lenders have added a total of 18,400 employees since January, 2,800 (full-time) of them in August 2012, bringing the overall total to 280,500 jobs in the mortgage banking and brokerage sector. According to nationalmortgagenews, this marks the sixth consecutive month of employment growth in the industry, which has climbed seven percent since Aug. 2011. As MHProNews has learned, on the overall jobs picture, the economy added 114,000 new jobs in Sept., and the unemployment rate fell from 8.1 percent in Aug. to 7.8 percent in Sept., the lowest since Pres. Obama took office.

(Photo credit: Ryan Movay/ThinkStock)

Consumer Spending Rose in 2011

September 26th, 2012 Comments off

According to data released by the federal government, CNNMoney reports consumers spent an average of 3.3 percent more on household expenses in 2011 than in 2010. The average for annual spending increased to $49,705, the first yearly rise since 2008. It must be noted that inflation, however, rose 3.2 percent, offsetting all but the most minimal gain. The survey from the Bureau of Labor Statistics says consumer spending on gasoline rose 24.5 percent in 2011, as the nationwide average price of a gallon increased 26.4 percent. As MHProNews has learned, the price of gas hits those with the lowest incomes the hardest, taking 12.2 percent of their income versus 2.7 percent for the wealthiest. Spending on food in 2011 increased 5.4 percent, while health care expenses rose 4.9 percent.

(Image credit: Fotosearch)

Low Wage Growth = Slow Economic Rebound

September 11th, 2012 Comments off

CNNMoney tells MHProNews the unemployment rate not only hurts those looking for work, it also hurts those with jobs. Why? Employers have no incentive to give raises because they know workers have few options. Hourly wages dropped by one cent in August, which indicates workers have little or no bargaining power in the face of employers, according to Heidi Shierholz of the Economic Policy Institute. Although the Bureau of Labor Statistics says hourly wages in the private sector have increased over the past year from $23.12 to $23.52, a gain of 1.7%, if you remove managerial and professional jobs, the rise is only 1.2%, which is less than the rate of inflation. Shierholz says 82% of the private workforce is in non-managerial jobs. Almost 40% of private sector employment added since early 2010 are service jobs that pay an average of $15/hour. Low wage growth translates into less consumer spending which means a robust economic recovery may be in the distant future.

(Photo credit: Ryan Movay/Thinkstock)

Mortgage Firms add Workers

May 7th, 2012 Comments off

The United States Bureau of Labor Statistics (BLS) reports mortgage companies added 2,700 full-time employees in March and another 2,800 in April, bringing employment in the mortgage and brokerage sector to 267,600 in March, almost 3,000 more employees than in Feb. of this year. OriginationNews tells MHProNews.com while employment in the mortgage industry has fallen less than two percent in the last year, there was no change in the construction industry employment from March to April this year. Meanwhile, the BLS revised employment figures for March up 34,000 to 154,000.

(Image credit: jobseach/Karen Roach)

MHC Residents May See Rents Rise

March 29th, 2012 Comments off

As follow-up to a story we published Feb. 24, 2012, homeowners in the 17 MHCs in Oceanside, California who have homesites under rent control might see their rents rise by 2.25 percent as of July 1, the NCTimes tells MHProNews.com. According to the rent control ordinance of 1984, community owners can raise rents 75 percent of the prior year’s consumer price index (CPI) for the region. The Bureau of Labor Statistics says the CPI in the San Diego region increased three percent last year. The city’s Manufactured Home Fair Practices Commission will meet this evening to review the proposal.

(Image credit: MapQuest/NAVTEQ)

Statistics Show Slight Improvement in Employment—Maybe

February 4th, 2012 Comments off

MHProNews.com has learned from NationalMortgageNews refinancings have led mortgage companies to add 3,000 employees to their rosters since September. While the U.S. Bureau of Labor Statistics (BLS) says mortgage firms employed 265,000 full time personnel at year’s end, year-over-year employment at mortgage firms actually fell 5.4 percent last year. Of the 243,000 new jobs created in January 2012, 21,000 were in construction, a drop from the gain of 31,000 in November, according to the BLS. The unemployment rate dropped .02 percent from the month earlier to 8.3 percent, a total of 12.9 million people. This figure, however, does not include the 1.1 million discouraged  job-seekers who have all but given up looking; nor the 1.7 million who sought to join the work force during the past year, but not in the past four weeks. Sources tell MHProNews.com the actual rate is closer to 11 percent. At the same time, government figures note spending is on the rise for single-family and multifamily residential construction. Fannie Mae’s “National Housing Survey” scheduled for release next week will show that consumer confidence is continuing to improve.

(Photo credit: eBay)