June 4, 2021
- I’m Danielle Hale, Chief Economist for realtor.com® and here’s what you need to know this week.
- May data showed a healthy rebound in the labor market with 559 thousand jobs added and the unemployment rate dipping under 6 percent. Hard-hit industries including leisure and hospitality, education, and health care & social assistance saw the biggest gains.
- Layoff trends also improved with another new, post-pandemic low in jobless claims. This figure is now just one and a half times its pre-pandemic level, and on par with what was typical in 2012.
- While the jobs market is strong, car sales pulled back this month, to a pace that’s still up over 40% from last year and roughly on par with what we saw in 2019. Supply of new cars is constrained due to an ongoing semiconductor chip shortage. If you’re shopping for a car, you may have…