Mortgage Blog

Take two steps forward and one step back

February 1st, 2013 10:54 PM by Eric Fang

There was mixed news in the Jobs Report for January:
157,000 jobs were created, which was below expectations,
while the unemployment rate ticked up to 7.9% from 7.8%.
On the flip side, the November and December job numbers
were revised higher by 127,000. In addition, the
benchmark revisions showed that employers added 335,000
jobs in 2012, more than was originally reported. That
brought the average rate of job gains per month in
2012 to 181,000, up from the 175,000 per month average
seen in 2011.

Overall, the labor market continues to improve, but at
a very slow pace. And seeing the unemployment rate tick
higher is yet another reason why the Fed said last week
that their Bond purchase program (known as Quantitative
Easing) will continue.

It will interesting to wait and see more economic news
in the next a few weeks.

Posted in:General
Posted by Eric Fang on February 1st, 2013 10:54 PM



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