Labor Productivity Rose 3.7% in Q2
Washington, DC, August 3, 2023—Nonfarm business sector labor productivity increased 3.7% in Q2 2023, the U.S. Bureau of Labor Statistics reported, as output increased 2.4% and hours worked decreased 1.3%.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
NWFA Rolls Out New Course, "Selling Against Wood Floor Look-alikes"
St. Louis, MO, August 3, 2023-The National Wood Flooring Association (NWFA) has launched a new sales course, "Selling Against Wood Floor Look-alikes," aimed at helping industry professionals effectively sell real wood flooring in an increasingly competitive marketplace.
Initial Jobless Claims Rose by 6,000 in Week Ending July 29
Washington, DC, August 3, 2023—In the week ending July 29, the advance figure for seasonally adjusted initial claims was 227,000, an increase of 6,000 from the previous week's unrevised level of 221,000, according to the Department of Labor.
Spec-Intelligence Launches Integration Software Technology
Chicago, IL, August 3, 2023—Spec-Intelligence, a commercial construction product data SaaS company, announced the launch of its proprietary Spec-ID Integration software technology that connects to Procore through an API.
HD Supply Acquires Redi Carpet
Atlanta, GA, August 2, 2023-HD Supply has completed the acquisition of Redi Carpet.
Residential Home Purchases by Foreign Buyers Declined 9.6% YOY
Washington, DC, August 2, 2023-Foreign buyers purchased $53.3 billion worth of U.S. existing homes from April 2022 through March 2023, slipping 9.6% from the previous 12-month period, according to a new report from the National Association of Realtors.
Dallas, Texas Led Hotel Construction Pipeline in Q2 2023
Portsmouth, NH, August 2, 2023—In Q2 2023, the five markets with the largest hotel construction pipelines are Dallas, Texas with a record-high 184 projects/21,501 rooms; Atlanta, Georgia with 141 projects/17,993 rooms; Phoenix, Arizona with 119 projects/16,107 rooms; Nashville, Tennessee with 116 projects/15,346 rooms; and Los Angeles, California with 112 projects/17,797 rooms, according to Lodging Econometrics.
Private Sector Employment Rose by 324,000 in July
Roseland, NJ, August 2, 2023—Private sector employment increased by 324,000 jobs in July, and annual pay was up 6.2% year-over-year, according to the July ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
LSI Flooring to Distribute Tisca Rugs in U.S. and Canada
New York, NY, August 2, 2023-Tisca Rugs, an Austrian rug manufacturer, will be exclusive distributed exclusively in the U.S. and Canadian markets by LSI Flooring.
Mortgage Applications Declined by 3% in Week Ending July 28
Washington, DC, August 2, 2023—Mortgage applications decreased 3.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 28, 2023.