June 16, 2011

Initial Unemployment Claims 414K; Building Permits Up; Housing Starts Up v. April, Down v. Last Year; Home Completions Flat v. April, Way Down v. Last Year

Filed under: Economy,Taxes & Government — Tom @ 8:40 am

Initial Claims: seasonally adjusted 414,000K, down from previous week’s upwardly revised (of course) 430K. Not seasonally adjusted claims were 395K, down about 12% from last year’s level.

Housing info (Census Bureau release):

BUILDING PERMITS

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 612,000. This is 8.7 percent (±1.5%) above the revised April rate of 563,000 and is 5.2 percent (±2.4%) above the May 2010 estimate of 582,000.

Single-family authorizations in May were at a rate of 405,000; this is 2.5 percent (±1.1%) above the revised April figure of 395,000. Authorizations of units in buildings with five units or more were at a rate of 190,000 in May.

HOUSING STARTS

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 560,000. This is 3.5 percent (±12.4%)* above the revised April estimate of 541,000, but is 3.4 percent (±8.7%)* below the May 2010 rate of 580,000.

Single-family housing starts in May were at a rate of 419,000; this is 3.7 percent (±9.5%)* above the revised April figure of 404,000. The May rate for units in buildings with five units or more was 134,000.

HOUSING COMPLETIONS

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 544,000. This is 0.4 percent (±14.6%)* above the revised April estimate of 542,000, but is 22.5 percent (±9.2%) below the May 2010 rate of 702,000.

Single-family housing completions in May were at a rate of 431,000; this is 2.9 percent (±17.0%)* above the revised April rate of 419,000. The May rate for units in buildings with five units or more was 108,000.

More later.

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