“As disappointing as last month’s jobs report was, this one more than makes up for it,” said Curt Long, Chief Economist of the National Associations of Federal Credit Unions (NAFCU). “Job gains surged past analysts’ expectations, while the unemployment rate dropped even as 300,000 workers joined the labor force. Meanwhile, year-over-year wage growth hit its highest mark since mid-2009. Barring catastrophe, everything looks set for the Fed to raise rates in December.”
Read More »Wells Fargo Cuts Nearly 500 Mortgage Jobs Due to Distressed Inventory Reduction
Wells Fargo told DS News that the reason behind the massive amount of job cuts was "the result of continuing market changes, including improvements in delinquency and foreclosure rates and reduced demand for mortgage financing."
Read More »Will September’s Weak Jobs Report Slow Down Housing Growth?
While the national unemployment rate held steady at 5.1 percent from August (the U6 rate, the broadest measure of unemployment, fell 3 basis points to 10 percent), September saw a gain of just 142,000 jobs, bringing the average monthly total for the first nine months of 2015 down to 198,000, according to the September 2015 Employment Summary released by the Bureau of Labor Statistics (BLS) on Friday. By comparison, average monthly job gains for the first nine months of 2014 totaled 260,000.
Read More »Analysts Still Divided on the Possibility of a Rate Hike Following August Jobs Report
Job gains fell below expectations for the month of August, totaling less than 200,000, but wage growth finally began to show some upward pressure—but analysts are still divided on whether it will be enough to convince the Federal Reserve to raise interest rates in their September meeting.
Read More »Will Recent Job Gains Be Enough to Convince the Fed to Raise Rates in September?
Also of note, job gains for May and June were revised upward for a combined total of 14,000 more jobs than were originally reported, according to the BLS. Smoke said the job growth in the last year, which has been consistently strong in the last nine months, has been a key reason for stronger housing demand this year.
Read More »Economic and Job Growth Pushing Housing Slowly Toward ‘Normal’ Levels
Although this increase may seem marginal, this one point rise up places the market closer to the one point goal, indicating that it has returned to normal. In addition, 66 percent of markets have shown improvement year-over-year.
Read More »Housing Market Will Benefit From Increased Job Gains, Economists Say
Revised, employment gains for March and April were a combined 32,000 more than previously reported (March's job gains were revised from 85,000 up to 119,000, and April's were revised down slightly from 223,000 to 221,000). With approximately 3.01 million jobs added in the last year and the job situation seemingly recovered from a disappointing March, the housing market may be reaping the benefits later in the year, according to analysts.
Read More »Employment Gains Rebound in April; March’s Disappointing Report Was An ‘Aberration’
March's already low reported job gains total of 126,000 was revised even further lower in April's report, down to 85,000. Combined with February's job gains revision from 264,000 to 266,000 in April, employment gains in February and March combined were 39,000 lower than originally reported. Job gains have averaged 191,000 per month over the past three months.
Read More »‘Disappointing’ Jobs Report Suggests More Economic Growth Is Needed For Full Housing Recovery
After months of solid gains with the administration touting that the labor market is at its healthiest level since the turn of the century, payroll employment increases for March fell well short of expectations with just 126,000 jobs added, according to data released the Bureau of Labor Statistics on Friday.
Read More »Economist: Job Gains Solid, But Muted Wage Gains Hindering Housing
The U.S. unemployment rate dropped down to 5.5 percent in February, its lowest figure since May 2008, as 295,000 jobs were added, according to the February 2015 Employment Situation released by the Bureau of Labor Statistics on Friday.
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