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average work week

Home > Posts > Tag: average work week

Mortgage pricing is trying to work its way back from the lows of the early morning trade

Mortgage pricing is trying to work its way back from the lows of the early morning trade. We are not out of the woods yet, although I wouldn’t expect this trade session today to be very volatile facing tomorrow morning’s Employment report. From what we are seeing, the estimates are anywhere’s from 100k to 130k job losses vs the 190k number from the previous report. I am leaning more towards the -110k mark at this point. Expectations are for the unemployment rate to stay at the 10.2% previous month number, as well as avg hourly earnings and avg work week numbers to stay the same as well.

2009-12-03T11:20:49-06:00December 3, 2009|Austin Mortgage Market|

Overall, the report shows that the employment situation remains depressed and economists are now saying that approximately 100k new jobs need to be created each month in order to meet the demand of new workers entering the market

This morning, the October employment report produced some surprises. Most notably, the unemployment rate rose to 10.2%, well higher than expected, and its highest level since 1983. We did hit the jobs number right on the head at190,000 job losses for the month, but August and September's job losses were revised with 91,000 fewer lost. September numbers were revised to only being down 219k from the 263k previously reported. Overall, the report shows that the employment situation remains depressed and economists are now saying that approximately 100k new jobs need to be created each month in order to meet the demand of new workers entering the market.

2009-11-06T10:24:56-06:00November 6, 2009|Austin Mortgage Market|