U.S. Economic News

July 24, 2017

U.S. Economic Indicators

Existing home sales fell 1.8% to a seasonally adjusted annual rate of 5.52 million in June, but are 0.7% above year-ago levels.  NAR notes that demand remains strong, but that “severe housing shortages” have kept many would-be buyers on the sidelines.  NAR Report

U.S. News

The Wall Street Journal reports that while many states hit record-low unemployment in June, eight still have not recovered from the recession due to population losses and long-term declines in major industries.  Although the U.S. labor market as a whole appears to be at or near full employment, the data highlight the uneven state of local labor markets across the country.  WSJ

According to the Wall Street Journal, U.S. college tuition is growing at the slowest pace in decades.  The authors attribute the trend to demographic shifts (e.g., lower birth rates and an aging population) that have reduced the pool of traditional college-age Americans.  They also cite a tightening labor market, which has resulted in fewer individuals going back to school. WSJ