Labor Productivity Declined 2.7% in Q1
Washington, DC, May 4, 2023—Nonfarm business sector labor productivity decreased 2.7% in Q1 2023, the U.S. Bureau of Labor Statistics reported, as output increased 0.2% and hours worked increased 3.0%.
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.
Initial Jobless Claims Rose by 13,000 in Week Ending April 29
Washington, DC, May 4, 2023—In the week ending April 29, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 13,000 from the previous week's revised level, according to the Deparment of Labor.
NWFA 2023 Wood Flooring Expo Underway Now in Milwaukee
Milwaukee, WI, May 3, 2023-Speaking at the kickoff for the National Wood Flooring Association (NWFA) Expo, which runs May 2 to 4, the organization's president and CEO, Michael Martin, reported that roughly 40% of members anticipate an increase in sales this year-led by a contingent forecasting more than 8% growth-while another nearly 40% expect sales to be flat. Only 5% are worried about sales being down significantly, he said.
Private Sector Employment Rose by 296,000 Jobs in April
Roseland, NJ, May 3, 2023—Private sector employment increased by 296,000 jobs in April, and annual pay was up 6.7% year-over-year, according to the April ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
NTCA Announces Five-Star Project of the Year Award Winners
Jackson, MS, May 3, 2023—The National Tile Contractors Association (NTCA) has announced the winners of its Five-Star Project of the Year Awards, recognizing exceptional work in the tile installation industry.
NWFA Presents Awards & Honors at 2023 Expo
Milwaukee, WI, May 3, 2023—The kickoff for the National Wood Flooring Association (NWFA) Wood Flooring Expo included the honoring of several industry leaders and businesses.
CCA's Vantage Point Academy to Be Held May 15 to 19 in NH
Manchester, NH, May 3, 2023—CCA Global Partners in-house training arm—CCA Global University—is bringing its Vantage Point Academy six-month intensive business training and development course to the Alnoba Center in Kensington, New Hampshire from May 15 to 19.
Mortgage Applications Declined 1.2% in Week Ending April 28
Washington, DC, May 3, 2023—Mortgage applications decreased 1.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 28, 2023.
Demand for New Single-Family Homes Strong but Supply Short
New York, NY, May 2, 2023-"Home builders are enjoying stronger-than-expected business this spring, capitalizing on the recent fall in mortgage rates and the shortage of existing homes for sale,” reports the Wall Street Journal.
Orders for Manufactured Goods Rose 0.9% in March
Washington, DC, May 2, 2023--New orders for manufactured goods in March, up following two consecutive monthly decreases, increased $4.9 billion or 0.9% to $539.0 billion, the U.S. Census Bureau reported.