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Posts Tagged ‘new jobs’

Job Growth Keeps Pace with Population Growth

July 5th, 2013 Comments off

While the unemployment rate remained at 7.6 percent, job growth in June hit 195,000, 40,000 more than economists expected and equal to the revised rate for May, 2013. While construction and manufacturing changed little, the biggest gains were in leisure and hospitality (up 75,000), professional and business services (up 53,000) and retail (up 37,000). While noting that three-fourths of the new jobs would qualify as low-quality work, J. J. Kinahan, of TD Ameritrade, says wages grew faster in June than the 12-month average. Economists say this level of job growth just keeps pace with the population level, and pales compared to the 250,000 jobs created monthly during the 1990’s, according to CNNMoney. As MHProNews understands, job growth is key to a healthy housing market.

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Clayton Acquires Window Maker

June 7th, 2013 Comments off

According to knoxnews, Clayton Supply, a division of Clayton Homes, has acquired one of its suppliers, a vinyl window manufacturer in Crossville, Tenn. Purchased from Elixir Industries and renamed Clayton Windows, the facility has the production capability for 450 windows a day, but Clayton intends to ramp up output to 1,000 a day by adding another assembly line and 20 new jobs by year’s end. Founded in 2010, Clayton Supply provides building materials to 35 manufacturing facilities. It also refurbishes manufactured homes in Alabama for Vanderbilt Mortgage and Finance and 21st Mortgage, two companies that back MH loans. Terms of the transaction were not disclosed. As MHProNews knows, Clayton Homes of Maryville, Tenn. is the largest producer of manufactured homes in North America, and a subsidiary of Berkshire Hathaway.

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Bipartisan Legislation will Ease Credit Access

May 23rd, 2013 Comments off

The National Association of Home Builders (NAHB) reports the inventory of newly-built homes because of the recession has led to both houses of Congress with legislation seeking to resolve some ongoing credit access problems for builders. S. 1002 Senators was introduced by Robert Menendez (D-NJ) and Johnny Isakson (R-Ga). Similar to the bill in the Senate, H. R.1225 was introduced in the House by Reps. Gary Miller (R-Calif.) and Carolyn McCarthy (D-NY). NAHB Chairman Rick Judson says new homes lead to new jobs and additional revenue for all levels of government. As MHProNews knows, Rep. Gary Miller also co-sponsored HR 1779, The Preserving Access to Manufactured Housing Act, as we reported here May 3, 2013.

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City Council Approves Tax Breaks

May 9th, 2013 Comments off

As follow-up to a post MHProNews published April 8, 2013 about Lippert Components, Inc. requesting a tax break for expanding its operations at three plants in Goshen, Ind., according to the Goshen News approval came from the Goshen City Council May 7 for tax phase-ins. Component supplier to the manufactured housing and recreational vehicle industries, Lippert intends to invest $10 million in upgrading equipment and then hire up to 376 workers by 2016. In addition, RV component supplier Falcon Corp. from Ocala, Fla. received a seven-year tax phase-in for a $3.9 million 170,000 square foot distribution center that will create 27 new jobs. Lippert is a subsidiary of Drew Industries, Inc.

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Fewer Entrepreneurs Equals Fewer New Jobs

October 5th, 2012 Comments off

In past years, start-up companies have generated three million new jobs annually, but that number has fallen below 2.5 million since the beginning of the recession. According to CNNMoney, Economist Tim Kane of the Hudson Institute states in the 1980’s and 1990’s 11 jobs were created by start-ups per every one thousand people. That number has fallen to less than eight for each thousand. He says, “The state of entrepreneurship in the United States is, sadly, weaker than ever.” One of the reasons he cites is the requirement by local and state officials for licenses and regulations that especially target lower and middle-class would-be entrepreneurs. In addition, MHProNews has learned, for companies that do not need office staff, taxes and paperwork are less when outsourcing work to freelancers in less developed countries.

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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.

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Housing Market Inching Back

October 5th, 2012 Comments off

The National Association of Home Builders tells MHProNews the NAHB/First American Improving Markets Index (IMI) indicating positive movement in the housing industry rose four notches from last month to include 103 metropolitan markets. Measuring housing permits, employment and house prices for at least six consecutive months, the Oct. reading marks the highest number since the list was created one year ago. “While 11 new housing markets were designated as improving in October, 92 metros retained their spots on the IMI and just seven slipped from the list,” noted Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “This is an encouraging sign that the housing recovery is proceeding at a steady pace as firming prices and employment help spur new building activity, which in turn generates new jobs and more home sales.” New markets added to the list include: Santa Cruz, CA; Pocatello, ID; Savannah, GA; and Abilene, TX.

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Is the Worst Over?

September 21st, 2012 Comments off

The news-times says data from the Census Bureau shows 36.5 million people, 12 percent of the population, moved to a new home this year, up from a record low of 11.6 percent in 2011. The most mobile group, young men 25-29, are moving out of their parents’ home, either returning to school or feeling confident about their job prospects, even though the unemployment rate remains stubbornly stuck. Andrew Cherlin, a professor of sociology and public policy at Johns Hopkins University, says, “We may be seeing the beginning of the American family’s recovery from the Great Recession. It could be the modest number of new jobs or simply the belief that the worst is over,” he adds. As MHProNews has learned, the picture remains mixed, however: Homeownership dropped last year to its lowest rate in over a decade, 64.6 percent; more Americans are using food stamps than ever before; and data released this week by the Conference Board’s Index of Leading Economic Indicators, which forecasts future economic activity, dropped 0.1 percent in August, after rising 0.5 percent in July. Harvard University Economist Richard Freeman said the data points to “a fragile recovery.”

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Private Job Reports Looking Up

September 7th, 2012 Comments off

In advance of the government’s jobs report, CNNMoney tells MHProNews paycheck processing firm ADP says private employers added 201,000 jobs in Aug., an increase from 173,000 in July. Adding more than 150,000 jobs in a month decreases the unemployment rate. ADP says the service sector added 185,000 new jobs, while manufacturing added 16,000. Construction employment rose 10,000, the third consecutive monthly increase, and the largest rise since March. Meanwhile, the Labor Dept. says unemployment claims dropped 12,000 from the previous week, and outplacement firm Challenger, Gray, & Christmas report planned job cuts hit a 20-month decline.

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Full Housing Recovery: Ten Years Away?

September 5th, 2012 1 comment

originationnews says while home values are expected to rise around four percent this year, the increase is driven more by low inventory than by rising demand. The rise in some markets is due to investors buying especially lower-priced homes, and flipping them in six months to a year as prices improve. Dean Baker of the Center for Economic and Policy Research, noting the vacancy rate rising on single-family homes in Phoenix, where prices have increased 14 percent since 2011, says, “That’s consistent with the story of speculation.” Unlike many others in the housing industry, he will not be surprised if prices fall again. He says house prices typically rise with inflation, currently at two percent, which means it will be ten years before prices return to their peak in 2006, especially given all the underwater mortgages. MHProNews has learned that many of the new jobs that have been created recently are lower paying jobs, which may coincide with the fact that many of the homes being sold are lower priced homes.

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