Employers Add Scant 39,000 Jobs in November – A Reprieve for Mortgage Rates
December 3, 2010 by Dan Hartman · Leave a Comment
It appears that labor markets may not be as strong as recent data have suggested. The Bureau of Labor Statistics’ Employment Situation Report was released this morning, showing a mere 39,000 jobs added in November, far below our estimate of 210,000 and other analysts average estimates of 130,000. A surprising drag on total employment was the retail sector. While expansion in that sector would ordinarily be expected at this time of the year, retail employment actually fell 28,100 in the month.
Strong Jobs Growth in October Fails to Lower Unemployment
November 5, 2010 by Dan Hartman · 1 Comment
Non-farm employers added 151,000 positions in October, a substantial jump from declines previously announced for August and September. Gains were strongest among private, non-government employers who added 159,000 positions. This sector has been viewed as key to moving employment in the economy forward. Government is unlikely to increase its hiring any time soon, especially with the potential for gridlock between Capitol Hill and the White House.
Private Employers Surprise Markets, Add 67,000 Jobs in July – Daily Mortgage Rate Update for September 3rd, 2010
September 3, 2010 by Dan Hartman · Leave a Comment
The unemployment rate ticked upward slightly to 9.6%. This rate, which tracks the number of workers who have actively sought work in the past 4 weeks, compared with the total of that figure plus those who have held a job in that time frame, has been steady in the 9.5-9.7% range for several months. The increase this month over last month’s 9.5% is largely attributed to a number of previously discouraged workers, that is, workers who had given up on looking for work, returning to their search.
Disappointing Jobs Growth; Why the Unemployment Rate is Meaningless – Daily Mortgage Rate Update for August 6th, 2010
August 6, 2010 by Dan Hartman · Leave a Comment
Interestingly, the unemployment rate for July remained stable at 9.5%, pointing to some of the fallacies of that figure. In the United States, unemployment is measured as the percentage of the labor force that is not working, but has actively searched for employment in the last 30 days. Given the depth of the economic crisis from which we are recovering, there are many who have been unemployed for a long time, and who have given up looking altogether, while waiting for better times.
