Based on the latest Alignable Rent Poll, the ability of small businesses to pay their full rent in December continues to decline, as more COVID-related shutdowns occur. Overall, 35% of small business owners reported that they couldn't make rent this month (up 3% from 32% in November). And for minority-owned businesses, the struggle is even more pronounced: nearly half … [More]
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Survey: Nearly 70% of Americans Will Not Travel for Christmas
American Hotel & Lodging Association
A recent national survey commissioned by the American Hotel & Lodging Association (AHLA) shows that nearly two-thirds (69%) of Americans will not travel for Christmas. With a new surge in COVID-19 cases, the CDC recommending that Americans do not travel over the holiday season and new stay-at-home orders in place in states across the country, the holiday season will … [More]
Home Equity Reaches Record Highs: Homeowners Gained Over $1 Trillion in Equity in Q3 2020, Says Report
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the third quarter of 2020. The report shows U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen equity increase by 10.8% year over year, representing a collective equity gain of $1 trillion, and an … [More]
U.S. Weekly Jobless Claims Up Sharply as COVID-19 Cases Rise to Record Numbers
U.S. Department of Labor
In the week ending December 5, the advance figure for seasonally adjusted initial claims was 853,000, an increase of 137,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 712,000 to 716,000. The 4-week moving average was 776,000, an increase of 35,500 from the previous week's revised average. The previous week's average was … [More]
CPI for Urban Areas up 0.2%, Demonstrating Slow Growth Ahead
U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in November on a seasonally adjusted basis after being unchanged in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.2 percent before seasonal adjustment. The seasonally adjusted increase in the all items index was … [More]
Report: Serious Delinquencies Leveled Off in September for the First Time Since Start of Pandemic
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for September 2020. On a national level, 6.3% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This represents a 2.5-percentage point increase in the overall … [More]
How the DACA Program Restores Hope and Creates New Opportunities for Dreamer Entrepreneurs
by Edgar R. Olivo
Imagine being at your desk, contemplating your business and professional goals for the upcoming year and suddenly, with no warning, you are told they are never going to happen because the current President does not consider you valuable enough as a contributor to the economy. This was the sentiment and reality for hundreds of thousands of Dreamers whose aspirations were held … [More]
Small Business Owners Remain Uncertain After Election
NFIB
The NFIB Small Business Optimism Index declined 2.6 points in November to 101.4 but remains well above the 47-year historical average reading of 98. Six of the 10 Index components declined and four increased. The NFIB Uncertainty Index decreased 8 points to 90, still a historically high reading. Owners expecting better business conditions over the next 6 months declined 19 … [More]
Hiring Outlooks Continue to Improve For Q1, Though Pre-Pandemic Hiring Levels Will Take Longer to Return
ManpowerGroup
Employers in the U.S. report steadily improving hiring plans for Q1 according to the latest ManpowerGroup Employment Outlook Survey of more than 6,700 employers. The survey reveals employers are shifting their HR priorities for the long-term as a result of the pandemic with employee health & wellbeing, manager coaching and upskilling front and center for HR leaders. Key … [More]
Even in a Pandemic, Demand for Homes Remains Robust
inbusinessPHX.com
The coronavirus crisis has led to a surge in joblessness and economic uncertainty, but interest in homeownership across the country remains as strong as it was before the pandemic, according to the latest national index by professors at Florida Atlantic and Florida International universities. The Beracha, Hardin & Johnson Buy vs. Rent Index determines whether consumers … [More]
Household Holiday Recycling Impacts Availability of Consumer Paper Goods
Republic Services, Inc.
With consumers shopping online more than ever before, Republic Services is bracing for an influx of discarded packaging material during the holiday season and is asking consumers to make sure they are recycling materials correctly. There's significant need for recycled paper due to the unprecedented demand for household paper products and cardboard during the … [More]
November Employment Picture Bleak despite Rise of 245,000 Employed
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However, the pace … [More]
Over Half of Small Businesses Looking to Hire, Having Difficulty Finding Workers
NFIB
Small businesses reported a historically high level of job openings in November, according to NFIB’s monthly jobs report. Overall, 53% reported hiring or trying to hire in November, down 2 points from the previous month. A seasonally adjusted net 21% of owners are planning to create new jobs in the next 3 months, up 3 points from October. “Small businesses are doing their … [More]
Weekly Jobless Claims Decrease Slightly, Economic Slowdown Looms
U.S. Department of Labor
In the week ending November 28, the advance figure for seasonally adjusted initial claims was 712,000, a decrease of 75,000 from the previous week's revised level. The previous week's level was revised up by 9,000 from 778,000 to 787,000. The 4-week moving average was 739,500, a decrease of 11,250 from the previous week's revised average. The previous week's average was revised … [More]
Small Businesses Need Our Help Here’s How to Support Local Businesses During This Holiday Season
by Edgar R. Olivo
By now you have probably heard many news stories about how the pandemic is crushing the economy, particularly hitting local small businesses the hardest. Small businesses have struggled during the coronavirus pandemic, but their owners hope the holiday shopping will boost their sales. Viviana O. started her business, JV Beauty Lashes, at the start of this year, just before … [More]
Why Housing Demand Will Likely Stay High for Years to Come
Zillow
Low rates of household formation since the Great Recession have caused 5.7 million "missing" households, a new Zillow® analysis finds. These missing households represent people who historically would have moved into their own home but have been unable or unwilling to do so, and should keep housing demand high for many years to come as the market catches up. Americans of … [More]
Gaining Momentum: Annual U.S. Home Prices Appreciated 7.3% in October, Says Report
CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for October 2020. Nationally, home prices increased 7.3% in October 2020, compared with October 2019, marking the fastest annual appreciation since April 2014. On a month-over-month basis, home prices increased … [More]
Workforce and Childcare
by Mike Hunter
It has been reported some parents here in the United States are using between 8% and 42% of their income to have their children cared for while they are at work. Recent studies collated by co-working specialists Instant Offices shows more than half of American parents are more concerned about childcare costs now than they were before the pandemic. While the cost of daycare … [More]
