Submitted by Lance Roberts via RealInvestmentAdvice.com,
Housing Recovery – Not So Much
“Everyone wants a house, and that’s a big problem.
We’ve noted in the past that there is a substantial issue in the housing market right now. Too few homes are being built for the number of people that want to move into them, thus driving up prices and keeping some lower-end or first-time buyers out of the market.“
With layoffs surging, ISM surveys slumping, and earnings collapsing, the incessant down-trend in initial jobless claims - to 43 year lows - seems aberrant at best and manipulated at worst. However, the tide may be turning as last week's 17k surge to 274k (the biggest WoW jump since January 2015) begins to catch up claims to reality...
As we detailed earlier, the initial claims data doesn't fit with Challenger-Grey layoffs...
Doesn't fit with Services Employment...
Against expectations of a 195k gain, ADP reported just 156k job growth in April with manufacturing losing jobs once again and services job growth clowing quickly to catch down to such negative indicators as ISM Services Employment. This is the worst headline print since April 2013. From last week's job-creation-machine firinmg on all cylinders, Mark Zandi is now more cautious - “The job market appears to have stumbled in April. Job growth noticeably slowed, with some weakness across most sectors.
Submitted by Devon Herrick via National Center for Policy Analysis,
Twenty workers from the The Hanford Site nuclear facility in Washington state were sent for medical evaluations after inhaling chemical vapors in the vicinity of a leaking nuclear waste tank. Some workers had reported smelling a suspicious odor or developing symptoms, such as headaches. Lat month, thousands of gallons of radioactive waste leaked at the site On Thursday work to empty waste from Tank AY-102, Hanford’s double-shell tank with an interior leak was stopped after the suspicious odors were reported.