Mark Hamrick

Senior Econ Analyst & Washington Bureau Chief, Bankrate. Creator, The Hamrick Brief on Substack. LinkedIn Top Voice. Past President, National Press Club.

[Mark Hamrick @hamrickisms]

The latest Challenger, Gray & Christmas report suggests that disruption is becoming more visible. Employers have now announced nearly 88,000 AI-related job cuts so far this year, exceeding the 2025 total.
The AI story is real. So is the need for perspective.
The biggest risk may not be AI itself, but failing to adapt as the technology reshapes the way work gets done.
Read my earlier piece here: https://t.co/2av9e8zLju…

[Mark Hamrick @hamrickisms]

New report from Challenger is finds artificial intelligence is actively reshaping the job market. It drove 40% of job cut announcements in May, the leading cause both for the month and the entire year to date. AI can be a career savior for those who learn to leverage it, and a job killer for those who ignore it. The window to adapt is narrowing. https://t.co/zW15pmt62K

[Mark Hamrick @hamrickisms]

ADP says private sector employers added 122k jobs in May. Broad-based is the word for this snapshot of the labor market, for a change, encompassing sectors and firm sizes.
Private sector hiring in May was paced by services, surging 114k, with education/health adding 57k jobs and trade/transportation/utilities adding 36k. Information shed 9,000 jobs. Goods-producing sectors added 8k, construction led the way by 8k, manufacturing was up by 3k, and natural resources/mining lost 3k jobs.
By firm size, small businesses added the most with 67k, followed by large employers with 40k, and mid-sized firms adding 17k.
On pay, job-stayers saw 4.4% year-over-year growth, little changed from prior months. Job-changers got 6.5%, a slight dip from April's 6.6%, suggesting the premium for switching jobs is slowly narrowing as the market has cooled.

[Mark Hamrick @hamrickisms]

This week in The Hamrick Brief on Substack: A look at the Misery Index. Can the economy really be that bad? https://t.co/iATwbnvYKO

[Liz Ann Sonders @LizAnnSonders]

Average MSRP for a new car slowed to $51,469 in April, down from a recent high of $52,217… average price in May 2019 was $39,711
@DataArbor

[Mark Hamrick @hamrickisms]

Not from "central casting"...

[The Associated Press @AP]

BREAKING: President Trump taps housing finance director Bill Pulte as acting director of national intelligence to replace Tulsi Gabbard. https://t.co/MsAP2xHQ1m

[Mark Hamrick @hamrickisms]

Employers added more job openings in April, but actual hires declined. My take on the still largely frozen job market:
https://t.co/MZNewe4s32

[Mark Hamrick @hamrickisms]

What to make of the forthcoming jobs report, and why purchases of new homes can have their own allure, given the financial tools that large builders can bring to the settlement table. Go Bills!

[WBEN NewsRadio 930AM @WBEN]

Healthcare and social assistance continue to make up the majority of job gains in the US. Meanwhile, new home sales have stagnated. Bankrate's Mark Hamrick (@hamrickisms) takes a deeper look at the numbers. https://t.co/C3LCgfWQQD

[Mark Hamrick @hamrickisms]

Sharing a personal story about the late Ted Turner, who launched CNN 46 years ago today. Also in The Hamrick Brief, why many Americans feel miserable about the economy. And, recalling the common sense humor of Will Rogers. https://t.co/BfOhYIWFnT

[Mark Hamrick @hamrickisms]

Now live on Substack… The latest edition of The Hamrick Brief. https://t.co/ec6re3bQV8

[Patrick De Haan @GasBuddyGuy]

the U.S. average price of gasoline has fallen below $4.30 to $4.296/gal, the lowest level in over a month. however, if a deal with Iran is not solidified very soon to reopen the Strait, prices may once again spike. 49 of 50 states are seeing lower prices vs a week ago.

[Mark Hamrick @hamrickisms]

Ahead of the release of the May employment report, the job market and housing market feel stuck.
https://t.co/epGFKKYcxq

[Mark Hamrick @hamrickisms]

It's almost like this administration isn't up to speed on best practices for pandemic protection. https://t.co/E3qSVZSmzx

[Mark Hamrick @hamrickisms]

Latest @Bankrate weekly survey of large lenders, 30-year fixed-rate mortgage: 6.56%. Feb. avg. before Iran War: 6.15%.

[Mark Hamrick @hamrickisms]

No one lives in the national housing market. But here is what today's data tells us about the environment everyone is navigating.
-S&P Cotality Case-Shiller national: +0.7% year-over-year in March. FHFA Q1: +1.7% year-over-year. April CPI: +3.8%.
-Affordability has been improving. NAR Q1 data: share of income spent on mortgage payments down to 21.5%, from 24.3% a year ago. First-time buyers: 32.5%, down from 36.6% a year ago.
But: Bankrate national lender survey puts the 30-year fixed at 6.60% last week, up from 6.46%. Oil prices up, inflation up, Treasury yields up, mortgage rates following. Fed on hold. A hike is possible.
Existing home sales April: 4.02 million annualized. Full-year 2025 was the weakest since 1995.
Affordability is moving in the right direction. Mortgage rates aren't making it easy.

[Mark Hamrick @hamrickisms]

@KeenanGroup @WBEN Thank you, my friend!

[Mark Hamrick @hamrickisms]

Two home price reports out today:
-Case-Shiller national: +0.7% year-over-year in March.
-FHFA Q1: +1.7% year-over-year. April CPI: +3.8%. Home prices are losing ground to inflation. Wage growth is also higher.
-Bankrate's latest national lender survey: 30-year fixed now at 6.60%, up from 6.46% the prior week. Oil prices are driving inflation higher, pushing up the 10-year Treasury yield and fixed mortgage rates with it. The Fed is sidelined. A rate hike is not off the table.
-NAR affordability index: ~35% below pre-pandemic levels. Existing home sales April 2026: 4.02 million annualized. Full-year 2025: lowest volume since 1995.
-No one lives in the national market. But this is the environment from a high-level view.

[Mark Hamrick @hamrickisms]

I'm so pleased to be starting the week with WBEN now, with live hits planned for 7:50 am on Mondays. We got it going today because of the holiday. Always an engaging conversation with Susan and Brian. Go Bills!

[WBEN NewsRadio 930AM @WBEN]

The war in Iran is rippling throughout the economy, impacting more than just gas prices. Also, there's worrying signs for credit card debt. Bankrate's Mark Hamrick (@hamrickisms) tells us more. https://t.co/CEXJ0hECdo