Residential Construction Was Weak Last Year but Likely Hit Bottom
Charlotte, NC, June 5, 2023—Residential new construction contracted significantly on the heels of the interest rate increases that hit mortgages in 2022, reports Truist.
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.
Mohawk Names Malisa Maynard Chief Sustainability Officer
Calhoun, GA, June 5, 2023—Mohawk Industries announces Malisa Maynard has been appointed chief sustainability officer.
Buyers Turning to New Homes Due to Low Existing Home Inventory
Washington, DC, June 2, 2023—More Americans are turning to new home construction as existing inventory remains low and mortgage rates begin to stabilize, reports the National Association of Home Builders (NAHB).
Employment Rose by 339,000 in May, Unemployment Also Rose
Washington, DC, June 2, 2023—Total nonfarm payroll employment increased by 339,000 in May, and the unemployment rate rose by 0.3 percentage point to 3.7%, the U.S. Bureau of Labor Statistics reported.
Ardex Launches System Selector Tool
Aliquippa, PA, June 2, 2023—Ardex has launched the Ardex System Selector, an easy way to create a complete product system in no time and the newest addition to Ardex’s digital footprint.
Construction Spending Rose 1.2% in April
Washington, DC, June 1, 2023—Construction spending during April 2023 was estimated at a seasonally adjusted annual rate of $1,908.4 billion, 1.2% above the revised March estimate of $1,885.0 billion, according to the U.S. Census Bureau. The
Mannington Commercial Appoints Cindy Kaufman as VP of Marketing
Calhoun, GA, June 1, 2023-Mannington Commercial has named Cindy Kaufman as its new vice president of marketing, effective today.
Labor Productivity Declined 2.1% in Q1 2023
Washington, DC, June 1, 2023—Nonfarm business sector labor productivity decreased 2.1% in Q1 2023, the U.S. Bureau of Labor Statistics reported today, as output increased 0.5% and hours worked increased 2.6%.
Private Sector Employment Ros by 278,000 in May
Roseland, NJ, June 1, 2023—Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5% year-over-year, according to the May ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
Floors and More to Hold Summer Convention in Boston This August
Ocala, FL, June 1, 2023-In line with the baseball theme of Floors and More’s summer convention, being held August 8 to 10 in Boston, Massachusetts, the focus will be on helping members achieve “home runs” in their business.