Skip to main content

What Does the Future Hold for the Housing Market as Unemployment Dips Below Nine Percent?

NationalMortgageProfessional.com
Mar 04, 2011

The U.S. Bureau of Labor Statistics (BLS) has reported that non-farm payroll employment increased by 192,000 in February, and the unemployment rate droppped slightly to 8.9 percent. Job gains occurred in manufacturing, construction, professional and business services, healthcare, and transportation and warehousing. For the week ending Feb. 26, the advance figure for seasonally adjusted unemployment claims was 368,000, a decrease of 20,000 from the previous week's revised figure of 388,000. The four-week moving average was 388,500, a decrease of 12,750 from the previous week's revised average of 401,250. The advance seasonally adjusted insured unemployment rate was three percent for the week ending Feb. 19, a decrease of 0.1 percentage point from the prior week's revised rate of 3.1 percent. The advance number for seasonally-adjusted insured unemployment during the week ending Feb.19 was 3,774,000, a decrease of 59,000 from the preceding week's revised level of 3,833,000. The four-week moving average was 3,863,750, a decrease of 40,500 from the preceding week's revised average of 3,904,250. Employment in the service-providing sector continued to expand in February, led by a gain of 47,000 in professional and business services. Employment services added 29,000 jobs, and employment rose by 7,000 in management and technical consulting. Within employment services, the number of jobs in temporary help services edged up over the month. Construction employment also rose by 33,000 in February, following a decline of 22,000 in January that may have reflected severe winter weather. Within construction, specialty trade contractors accounted for the bulk of the February job gain (+28,000). For more information, visit http://www.bls.gov.
Published
Mar 04, 2011
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Industry News
Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Industry News
Jan 26, 2023
Housing Prices Across Texas Likely Hobbled In 2023

But you’re getting a lot less for $1 million

Industry News
Jan 23, 2023
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023