The Economy , ,

27 Months Of Consecutive Job Growth Helping Home Prices Rise

The Bureau of Labor Statistics (BLS) Non-Farm Payrolls report for December exceeded Wall Street's expectations by 5,000 net new jobs, showing 155,000 positions created in December. The December tally raised the economy's 12-month total to 1.84 million net new jobs created nationwide. Jobs added in December mark the 27th consecutive month of job growth. Job sectors showing the strongest growth to close out 2012 included: Health Care Drinking and Eating Establishments Construction Manufacturing Private-sector hiring is driving the jobs market, too. 168,000 new private sector jobs were added in December. Government jobs fell by thirteen thousand. Monthly job creation has…
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The Economy , ,

Mortgage Rates Rising On 26 Straight Months Of Jobs Growth

According to the Bureau of Labor Statistics (BLS) and its November 2012 Non-Farm Payrolls report, the U.S. economy added 146,000 net new jobs last month. November's job growth exceeded Wall Street expectations of 90,000 jobs added for the month, and was a small increase from October's 138,000 jobs added. Three job sectors in which employment rose in November include : Retail : 58,000 jobs added Business and Professional Services : 43,000 jobs added Healthcare : 20,000 jobs added It appears that the effects of Hurricane Sandy were muted, although they may be temporarily overshadowed by seasonal factors. After losing more…
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The Economy , ,

November 2012 Non-Farm Payrolls Report May Show Hurricane Sandy Effects

Floating a mortgage rate? Consider getting locked Thursday. ADP released its November 2012 Employment Report Wednesday in which the payroll-processing firm reported 118,000 new jobs created last month. The company said the service sector created 114,000 new positions, the construction sector created 23,000 new positions, and goods-producing businesses created 4,000 new jobs, among others. There was a 16,000 decline in manufacturing employment. ADP's monthly Employment Report can influence mortgage rates. This is because it's typically released during the same week as the Non-Farm Payrolls report from the U.S. Bureau of Labor Statistics, and can sometimes provide a preview. The Non-Farm…
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The Economy , ,

October Jobs Report Blows Away Estimates; Mortgage Rates Falling

Another month, another good showing for the U.S. economy. Mortgage rates are performing surprisingly well after Friday's release of the October 2012 Non-Farm Payrolls report. The Bureau of Labor Statistics' monthly report beat Wall Street expectations, while also showing a giant revision to the previously-released job tallies of August and September. 171,000 net new jobs were created last month against calls for 125,000 and revisions for the two months prior totalled 84,000. October also marked the 25th consecutive month of U.S. job growth -- a period during which 3.8 million jobs have been reclaimed. This sum represents more than half of…
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