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Hotels: Occupancy Rate Decreased Year-over-year, “Hotels’ rocket is losing fuel”

From Jan Freitag at HotelNewsNow.com: June data shows US hotels’ rocket is losing fuel Well, it finally happened, 12-month-moving-average occupancy is no longer at record levels. June 12MMA occupancy at 66.2% was below the May result of 66.3%. Occupancy bottomed out in January 2010 (54.5%), and we had reported consecutively higher annualized occupancies ever since. […]

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Goldman: July Payrolls Preview

A few brief excerpts from a note by Goldman Sachs economist Spencer Hill: We estimate nonfarm payrolls increased 190k in July, 25k above consensus of +165k. While July employer surveys declined on net, jobless claims and job availability measures remain at very strong levels, and we also expect a boost from Census hiring worth 10-20k. […]

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July Employment Preview

On Friday at 8:30 AM ET, the BLS will release the employment report for July. The consensus is for an increase of 156,000 non-farm payroll jobs in July, and for the unemployment rate to decline to 3.6%. Last month, the BLS reported 224,000 jobs added in June. Here is a summary of recent data: • […]

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Construction Spending Declined in June

From the Census Bureau reported that overall construction spending declined in June: Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3 percent below the revised May estimate of $1,303.4 billion. The June figure is 2.1 percent below the June 2018 estimate of $1,314.8 billion. Both private and […]