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U.S. homes lost $489 billion in home values(1) during the first 11 months of 2009, significantly less than the $3.6 trillion lost during 2008, according to analysis of recent Zillow Real Estate Market Reports.

Labor productivity – defined as output per hour – rose in 53 percent of detailed manufacturing industries in 2007, the U.S. Bureau of Labor Statistics reported. This was about unchanged from the proportion that recorded productivity increases the previous year. Unit labor costs declined in 19 percent of the industries.

A total of 157.5 million persons worked at some point during 2008, the U.S. Bureau of Labor Statistics reported. The proportion of workers who worked full time, year round in 2008 was 65.6 percent, down from 68.4 percent in 2007. The number of persons who experienced some unemployment in 2008 increased by 6.1 million to 21.2 million. This sharp increase reflects weak labor market conditions due to a recession that began in December 2007.

There were 2.5 million job openings on the last business day of October 2009, the U.S. Bureau of Labor Statistics reported. The job openings rate was unchanged over the month at 1.9 percent. The
openings rate has held relatively steady since March 2009. The hires rate (3.0 percent) and the separations rate (3.2 percent) were essentially unchanged and remained low.

Two out of three small business owners are concerned that employees might bring discrimination claims or other employment-related charges against them, according to a recent survey by The Hartford Steam Boiler Inspection and Insurance Company (HSB). More than 40 percent blamed a poor economy and 60 percent cited new worker-friendly employment laws and legislation.

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased five basis points last week to 4.67 percent, up from 4.62 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages rose one basis point to 4.20 percent from 4.19 percent, while 5-1 adjustable rate mortgages remained flat at 3.74 percent.

U.S. employees can expect median pay increases of 2.5% in 2010, according to a new Hay Group study. The 2.5% planned amount is the lowest planned increase in the last decade and it is also one half of a percent lower than when Hay Group conducted a similar study in July 2009, which forecasted a 2010 median pay budget increase of 3.0%.

The US should raise significantly federal funding on jobs programmes for young people in order to limit the impact of the economic downturn on the current generation of school leavers, according to a new OECD report. Given the pressure on public finances, this may require some reallocation of federal funding towards youth programmes.

comScore, a leader in measuring the digital world, reported holiday season retail e-commerce spending for the first 34 days of the November – December 2009 holiday season. For the holiday season-to-date, $15.3 billion has been spent online, marking a 4-percent increase versus the corresponding days last year. The most recent week saw three individual days eclipse $800 million in spending, led by Cyber Monday, with $887 million in spending, matching the heaviest online spending day on record. The following Tuesday nearly matched the Cyber Monday total with $886 million in spending, while Thursday, Dec. 3 reached $808 million in spending.

The Conference Board Employment Trends Index (ETI)™ increased for the fourth consecutive month. The index now stands at 90.8, up 1.8 percent from the revised October figure. The index is down 9.4 percent from a year ago.