Jun 23, 2021
It takes more than a “Help Wanted” sign to get people back to the labor force
Olivier Douliery/AFP via Getty Images
Half of states have now decided to opt out of the extra $300 a week in federal unemployment benefits. Governors say they're trying to help businesses that don't pay enough to compete with government benefits to fill 9 million openings. But it's not just an open job that people need to get back to work. Also, May saw a record year-over-year price increase for existing homes. But we need to be careful when comparing this year's data to that of 2020. And, frustrated would-be homebuyers look for a light at the end of the tunnel in this hot housing market.
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Be careful when you see headlines about record year-over-year increases in various aspects of the U.S. economy
“Always be cautious right now when you hear that year-over-year comparison,” said Susan Schmidt, head of U.S. equities at Aviva Investors. “When you get that comparison, it’s not really important this year because it’s such an abnormal comparison when you think about where we were last summer.” One of the recent records we’ve seen in the data is the yearly increase in existing home prices. All that said, home prices are, in fact, up and there is an increased demand for housing. That’s making it hard and expensive to buy. There are also supply shortages depressing housing stock.
Stephen Brashear/Getty Images for Redfin
Music from the episode
On My Way Home Kan Sano
The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Senior Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Brian Allison
Engineer
Meredith Garretson Morbey
Senior Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Alex Schroeder
Producer
