Knock on wood: Confidence among U.S. homebuilders fell this month because of concerns that limited land, building materials and labor will slow sales in the short term. But builders’ outlook for sales over the next six months reached its strongest point in more than six years, suggesting the decline is temporary. The National Association of Home Builders/Wells Fargo builder sentiment index fell to 44 from 46 in February. Readings below 50 suggest negative sentiment about the housing market. The last time the index was at 50 or higher was in April 2006.
Here and there: Unemployment rates increased in half of U.S. states in January from December, as employers nationwide added the fewest jobs in seven months. The Labor Department says unemployment rates increased in 25 states, fell in only eight states and were unchanged in 17. Nationally, the unemployment rate ticked up in January to 7.9% from 7.8% in December. Employers added only 119,000 jobs, down from 219,000 in December. The Louisiana Workforce Commission has yet to report on unemployment specifics in the state for January.
Naming names: Seeking to fill yet another second-term Cabinet vacancy, President Barack Obama is set to nominate Thomas Perez, an assistant attorney general, to be the next secretary of labor, the White House says. If confirmed by the Senate, Perez, who has been head of the Justice Department’s Civil Rights Division for 3.5 years, would take the reins at the Labor Department as Obama undertakes several worker-oriented initiatives, including an overhaul of immigration laws and an increase in the minimum wage. Obama is expected to make an official announcement on the appointment later today.
