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Posts Tagged ‘Mark Zandi’

ADP Jobs Report for May Released

June 1st, 2017 Comments off
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The numbers are in… Credit: MHProNews.

The monthly private payroll jobs report from ADP and Moody’s Analytics was released today, and it appears that President Donald Trump’s “America First” plans are taking shape.

According to CNBC, job creation surged in May thanks to a jump in construction positions and a boom in professional and business services, up 253,000, which is significantly higher than the expectations from economists surveyed by Reuters, which projected a number of 185,000.

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Mark Zandi of Moody’s Analytics. Credit: CNBC.

The growth is three times the rate of the growth in the underlying labor force,” said Mark Zandi, chief economist at Moody’s Analytics.

So that means the unemployment rate, which is 4.4 percent, is quickly headed to 4 percent. This labor market is rip-roaring and getting really tight.”


Leading the way in jobs created was the services sector, with 205,000 new jobs, professional and business services contributing 88,000 jobs, which represents the best month for the sector in nearly three years, and education and health services adding 54,000 jobs.

The report noted that the construction sector added 37,000 jobs as the building season heats up, while manufacturing grew by 8,000 jobs and mining grew by 3,000 jobs.

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Credit: CNBC.

As Daily Business News readers are aware, the mining sector has been one of the cornerstones of President Trump’s agenda.

Trade, transportation and utilities added 58,000 new jobs, and franchises add 18,400 new workers.

The positive report comes at a time where economists are doubtful that the Trump administration can deliver on its goal of three percent annual GDP growth, in part because the labor market is near full employment.

The report from ADP and Moody’s Analytics are regular precursors to the nonfarm payrolls count from the Bureau of Labor Statistics (BLS).

Economists estimate that payroll growth will come in around 176,000, down from the previous month’s 211,000.

 

The Proof is in the Pudding…

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The President and First Lady visit Saudi Arabia. 300 billion in deals were completed during the visit. Credit: The White House.

As the Daily Business News covered in a feature story recently, while President Trump continues to make progress, including the lowest unemployment rate in decades, and the highest consumer, business confidence, and homebuilder confidence numbers in years, along with over $300 billion in deals with Saudi Arabia, what ELS Chairman Sam Zell colorfully called a “cacophony” of Deep State resistance has moved into high gear.

Even with that Deep State resistance, NFIB President and CEO Juanita Duggan, and industry organizations like MHARR, talked about the potentially massive impact that the Trump Administration could have.

Small business owners are clearly encouraged by the election results, but now it’s time for President-elect Trump and congressional leaders to deliver,” said Duggan.

Federal taxes, regulations, and Obamacare are the three biggest impediments to running a small business in America. Small business owners have high expectations that those problems will be addressed.”

For more on President Trump’s progress, and challenges, click here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

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President Trump at 100 Days: Numbers, Polls

April 25th, 2017 Comments off
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Credit: KCTV 5.

As President Donald Trump reaches the magic 100-day mark in office, new polling and statistics show that many American’s believe he’s getting the job done.

According to Lifezette, approximately 73 percent of American voters approve of President Trump’s performance in fighting for American jobs in an ABC News/Washington Post poll released this past Sunday.

As noted, this poll finds no evidence of buyer’s remorse among Trump supporters,” the polling analysis read.

Among those who report having voted for him in November, 96 percent today say it was the right thing to do; a mere 2 percent regret it. And if a rerun of the election were held today, the poll indicates even the possibility of a Trump victory in the popular vote among 2016 voters.”

The poll surveyed over 1000 voters, with the goal of measuring President Trump’s performance during his first 100 days in office. The poll also showed that a significant majority of Americans believe the President is keeping the pressure on U.S. based companies to keep jobs in the country, and 53 percent see the President as a strong leader.

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Credit: Heather’s Homilies.

In addition, data from the Bureau of Labor Statistics (BLS) shows that over the first 100 days, the unemployment rate for 16-24 rear olds has decreased from 10.1 percent to 9.1 percent; the rate for 20-24 year olds has decreased from 8.3 percent to 7.3 percent, and the rate for 25-34 year olds has decreased from 4.9 percent to 4.5 percent.

Over 317,000 non-farm jobs have been created, and there have been surges in both the construction and manufacturing sectors.

Confidence is playing a large role,” said Mark Zandi, chief economist of Moody’s Analytics.

Businesses are anticipating a lot of good stuff – tax cuts, less regulation. They are hiring more aggressively.”

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April 26 marks First Lady Melania Trump’s birthday, shown here in a photo with her husband, President Donald Trump and their son, Barron. Credit: People, shown under fair use guidelines.

A View from the Industry

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Todd Lamb.

Even with the progress that’s been made, President Trump still faces an uphill battle. While there are certainly skeptics in the industry, MHProNews routinely hears from those who are happy and encouraged by the president’s efforts and actions.

This week, Todd Lamb of Lamb Investments told MHProNews,  “Pray for Donald Trump, the President is under constant attack.”

MHARR CEO, M. Mark Weiss, JD, shared similar thoughts with MHProNews in a story, linked here. MHARR’s top staff have praised the early Trump Administration efforts, as the video shown above demonstrates.

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L A ‘Tony’ Kovach, credit, MHVillage.

As well as the markets and new job creation are already responding to his initiatives, where could we be if there wasn’t a non-stop assault on our new president?” said MHProNews  and MHLivingNews Publisher L.A. “Tony” Kovach.

Back in November, Tim Williams told MHProNews that, “I am deeply encouraged that less than 24 hours into President Trump’s term, he has frozen new, potentially burdensome regulations.”  For his full comments, click here.

For more on the progress of the Trump Administration, including proposed budget cuts to National Public Radio (NPR) and the Corporation for Public Broadcasting (CPB), click here. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

Oil Price Drop will Cost Jobs, Reduce Home Values

August 28th, 2015 Comments off

housing slides  cnnmoney  creditWhile home values dropped drastically for most of the nation following the housing bubble, the oil-producing states posted housing gains. With crude oil trading at half the price of a year ago, according to nationalmortgagenews, New Mexico, North Dakota, Oklahoma, Wyoming and Alaska may see home prices fall six to 20 percent over the next five years. As MHProNews posted many times in the last several years, modular workforce housing and manufactured housing experienced a strong uptick in oil-producing areas of the country.

Fannie Mae Economist Eric Brescia, in a report, said if lower energy prices reduce demand for shale oil, home values will be flat in Texas in five years.

This is going to hurt, but we won’t see a repeat of the 1980s when Texas was awash in vacant houses,” said Mark Zandi, chief economist for Moody’s Analytics Inc. in West Chester, Pa. “Going into this, most of the oil states were vastly undersupplied with housing. That’s going to cushion the blow.

The government estimates lower oil prices have kept $700 a year in each American household. However, it will cost the energy sector about 150,000 jobs from January 2015 to March 2016, and another 150,000 workers in related industries such as pipe manufacturing, says Zandi. ##

(Image credit: cnnmoney)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

CFPB Director takes Questions

June 25th, 2013 Comments off

Consumer Financial Protection Bureau Director Richard Cordray, in a speech followed by a Q and A before the Exchequer Club, said more commotion than necessary is being made about the qualified mortgage (QM) rule. He says lenders will continue lending as they have in the past, even outside the rule, according to nationalmortgagenews. For a lender “to not make those mortgages and leave that money on the table and leave people un-served because of some vague fear that they can’t quite articulate; that doesn’t sound to me like the kind of good decision-making that lenders have made for years,” said Cordray. He agrees with the chief economist at Moody’s Analytics, Mark Zandi, who says $20 billion of the $1.25 trillion mortgage market will fall outside the QM rule, which amounts to two percent of the total. Noting the agency is trying to be flexible in its overall approach, when questioned about the extensive mortgage data the CFPB is currently gathering, Cordray said the information collected will help a future director make more solid policy decisions. Speaking of his own battle with Republicans over his confirmation, as MHProNews has learned, he does not profess to know what was in the mind of the Dodd-Frank Act congressional creators, but feels the structure allows the ability to reshape policy as needed.

(Photo credit: ABCNews–CFPB Director Richard Cordray)

NAHB Cautiously Optimistic

October 18th, 2012 Comments off

The National Association of Home Builders (NAHB), while noting their prediction of a 21% rise in single-family housing starts this year to 528,000 units, and next year to 665,000, says the uncertainty of how the Dodd-Frank Act plays out is preventing lenders from loosening credit, and further constraining the housing recovery. In addition, the unknown effects of the “fiscal cliff” of mandatory budget cuts and tax increases at the beginning of 2013 have put some investors on hold. Mark Zandi of Moody’s Analytics, forecasting optimism, says the GDP will grow two percent for the year and housing starts will total 1.1 for 2013. But he also notes hiring will not pick up until the “fiscal cliff” is resolved. And as MHProNews has learned, the economy will be stymied until hiring increases.

(Photo credit: Fotosearch)

Analyst Says Housing Market May Fall Further

June 6th, 2011 Comments off

HousingWire reports that Moody’s Analytics says the federal government should do more to help the 14 million underwater mortgages before falling home prices lead to another downturn in the housing market.  Analyst Mark Zandi says plummeting home values could be sufficient to induce more underwater borrowers to hand their keys over to the lender, especially if they can rent something suitable for less than their mortgage payment.  Half of the 14 million owe 30 percent or more than the house is actually worth.  Zandi suggests lawmakers enact more home refinancing options that reduce the principal more aggressively.