Market Update

Abysmal jobs report disheartening as rates move back below 3%

     
Abysmal jobs report disheartening as rates move back below 3%

Saying September’s jobs report was a total letdown would be a serious understatement. Expected to rise by 500,000 jobs, the Labor Department’s non-farms payroll report for September shows that just 194,000 jobs were added. The unemployment rate did go down to 4.8% against the 5.1% forecast. Interestingly, government payrolls led the decline reporting a loss of 123,000. Wages have shown a steady increase over the last few months, however, with September’s $.19 rise bringing the average hourly earnings to $30.85 for all employees.

Continue reading Abysmal jobs report disheartening as rates move back below 3% at Movement Mortgage Blog.

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