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US economy adds 145,000 new hires; unemployment stays at 3.5%
Seth Sandronsky Business Management, Services & Risk ManagementIn December, U.S. nonfarm payrolls grew by 145,000 after November's gain of 266,000, while the rate of unemployment remained at 3.5%, according to the Bureau of Labor Statistics. The total number of unemployed persons stayed at 5.8 million versus 6.3 million and a jobless rate of 3.9% a year ago. Meanwhile, hourly pay increases are tepid. "Year-over-year nominal wage growth was 2.9% — the lowest it's been in 18 months," according to Elise Gould, an economist with the Economic Policy Institute in Washington, D.C., in a statement.
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Rethinking the ‘placemaking’ agenda
Lucy Wallwork Construction & Building MaterialsIf modern politics has shown us anything, it is that even in the era of the supposed "global citizen," issues of place and identity remain connected in powerful ways. The recent election campaign in my home country of the U.K. was testament to this, as in similar ways is the recent political history of the U.S. "Placemaking" is all the rage in urbanist circles today. But it seems to me that the concept of "place" needs rescuing from its current status as either meaningless buzzword or tool of a divisive nationalism to be a much more progressive guiding principle for what comes next in our neighborhoods.
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Build your business with confidence
Lloyd Princeton Business Management, Services & Risk ManagementThings are looking up. OK, maybe the outlook is not as sunny as it was a few years ago, but it’s not so bad. Growth may be slowing, but there’s still growth. Employment keeps going up. Consumer spending, the engine that drives the economy, is vigorous. The stock market is robust. Concerns that we’re heading toward the next recession appear to be evaporating. On the whole, business owners have lots to feel good about. That said, a lot of factors are in play at the moment that could sway things in one direction or the other.
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Builders, buyers optimistic about housing market
Michael J. Berens Construction & Building MaterialsRenewed activity in home sales along with low interest rates and a more positive forecast for the economy in the year ahead have boosted builder and buyer confidence in the housing market. While price increases and a shortage of inventory have hamstrung purchases of existing homes, sales of new homes have been increasing. That trend is likely to continue into 2020 as builders continue to respond to pressures to build more affordable homes.
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A new, blue year
Tory Barringer Interior Design, Furnishings & FixturesIt's official: 2020 will be the year of blue — and no, that's not a political forecast. For more than 20 years, the Pantone Color Institute (PCI) has been the trendsetter for the hues to watch for in the coming year. Its selection for 2020 is Classic Blue (PANTONE 19-4052), which PCI Executive Director Leatrice Eiseman described in a release as a "boundless blue evocative of the vast and infinite evening sky." Pantone isn't the only one calling for a blue year.
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Bills requiring baby changing tables in men’s restrooms become more…
Scott E. Rupp Facilities & GroundsPieces of legislation mandating that men's public restrooms include a baby changing station continue to gain support. If all goes according to plan in Wisconsin, the state could soon join others in doing so, reports Milwaukee's WTMJ-TV. Two state representatives and a state senator — all men — have introduced the bill requiring the changing tables in any newly built or substantially renovated public building. Massachusetts is looking at a bill, too. Similar bills have passed in Arizona, Utah, California, Illinois, and New Mexico.
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What lies ahead for remodelers?
Michael J. Berens Construction & Building MaterialsAs remodelers prepare to say goodbye to the century's second decade, they may be feeling a bit ambivalent about their future prospects. All in all, the last half of the present decade has been pretty good for remodelers, with annual growth figures hovering around 5 to 7% or better. Recent indicators suggest that trend is winding down. The good news is demand for remodeling services should remain solid, but revenue growth in the next couple of years will likely be more modest.
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US payrolls add 266,000 jobs; unemployment rate falls to 3.5%
Seth Sandronsky Business Management, Services & Risk ManagementIn November, total U.S. nonfarm payrolls added 266,000 new hires, as the unemployment rate dipped to 3.5%, according to the Bureau of Labor Statistics. The unemployment rate has been under 4% for 21 straight months. Unemployment among major worker groups changed scantly last month, as did the number of people out of paid work at 5.8 million. Additionally, GM workers returned from being on strike. Wage growth, however, is not as robust as job increases, according to economist Elise Gould of the Economic Policy Institute.
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Master planning: A trellis to grow a city on
Lucy Wallwork Construction & Building MaterialsWe have all likely come across master plans, the "placemaker's" new tool of choice. They mostly take the form of differently colored polygons within a site outline to delineate what uses will be allowed where and how an area of new development might take shape. But until recently, master plans have been quite unfashionable. In an age of speculative anything-goes urbanism, development has resisted attempts to grow itself along a "trellis" drawn up by the planners. Here we look at what master planning means as a process and what challenges it faces for the future.
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Luxury homebuyers are shifting locales
Michael J. Berens Interior Design, Furnishings & FixturesThe market for luxury homes regained its footing in the third quarter — the first positive quarter of growth this year. Sales of second and vacation homes also are rising. Unexpectedly, activity was greatest in so-called secondary markets, notably areas that are experiencing migrations of more affluent homeowners and real estate investors. These trends should help to widen the sphere of opportunities for interior designers seeking to acquire more high-end clients.
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