“Bad news goes about in clogs, good news in stockinged feet.” Welsh Proverb. And there was certainly both good and bad news in last week’s Jobs Report. The Labor Department reported that just 36,000 jobs were created in January, with only 50,000 jobs created in the Private sector, much lower than the numbers anticipated. However, there were upward revisions to both November and December, which added another 40,000 jobs than previously reported.
The Unemployment Rate fell to 9%, down from 9.4% last month, rather than increasing as had been expected. In addition, the U6 or “real” rate of unemployment, which includes discouraged workers and those who have accepted part-time employment for economic reasons, fell to 16.1%, from the previous month of 16.7%…and reflects the lowest level since April 2009!
If you have been thinking about purchasing a home, this is a great time to get started! Home loan rates are still very attractive, so call or email me if you want to talk about your situation.