Newsbytes

98,000 Jobs Added in March

Total nonfarm payroll employment rose by 98,000 in March, a decline from February’s downwardly revised figure of 219,000, according to the Bureau of Labor Statistics. The national unemployment rate moved down to 4.5%. The majority of gains occurred in professional and business services and in mining. Private-service providing industries added a net 61,000 jobs, led by gains in professional and ...

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FDIC’s New Affordable Housing Guide Details FHLB Programs

The FDIC today released the third installment of its guide to affordable single-family home loan programs, which collects information about programs to expand access to affordable mortgage credit, including programs targeted in rural and low- and moderate-income communities and to Native Americans and veterans.

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Job Cuts Rose in March

Employers announced plans to cut 43,310 jobs in March, according to a report issued by Challenger, Gray & Christmas. March’s announced cuts were 17% more than February’s. The month’s figure was 2% lower than March 2016. The retail sector has led the way this year in job cuts, with 38,464 so far this year. This is 19% higher than the ...

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FOMC Minutes: Shrinking of Balance Sheet Could Begin this Year

Fed officials expressed that they anticipate the reduction of the $4.5 trillion portfolio to begin later this year as interest rates continue to increase, according to the minutes of the meeting released today. “Most participants anticipated that gradual increases in the federal-funds rate would continue and judged that a change in the (Fed’s) reinvestment policy would likely be appropriate later ...

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