jobs

More Americans Are Working And Are Being Paid More To Work

March 9, 2007

Mortgage rates are moving higher this morning after the 8:30 EST release of February’s jobs report. The 97,000 new jobs created was in-line with the 95,000 expectation, but January’s numbers were revised higher by 35,000 to 146,000. In addition, the report showed a slight drop in unemployment and an increase in average hourly earnings. If […]

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The Week In Review (March 5, 2007) : What To Watch For

March 5, 2007

Two weeks ago, the tone on Wall Street was overwhelmingly positive and the glass was half-full.  Last week, however, that all changed. The week began with former Fed Chairman Alan Greenspan’s remarking that a 2007 recession may be looming, and it ended with Dow posting its worst one week loss in more than four years. […]

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Upward Revisions Keeps Weak Job Data From Moving Rates

February 2, 2007

This morning’s Non-Farm Payrolls report showed that 111,000 new jobs were created in January, short of Wall Street’s 155,000 expectations.  The weaker-than-expected figure did not give mortgage markets a reason to rally, however, because December’s figures were revised higher by 39,000 and November’s by 42,000. Traders have shrugged off the data for three major reasons: […]

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The Week In Review (January 29, 2007) : What To Watch For

January 29, 2007

After a week of bludgeoning in which mortgage rates rose as much as 0.50% on the heels of a supposed housing sector rebound, don’t expect the fireworks to stop anytime soon. This Monday and Tuesday will be quiet with respect to economic releases, but Wednesday through Friday will be jammed-packed with mortgage-rate-moving data. The highlights […]

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Once Bitten, Twice Shy: ADP Says Jobs Were Lost in December

January 10, 2007

After last week’s data showed ongoing strength in the U.S. economy, there is a growing sentiment that the Fed will choose to raise the Fed Funds Rate before it begins lowering it. FFR currently stands at 5.250% and here is what markets are predicting over the near-term: After January 30-31 Meeting: Decrease to 4.750: 0% […]

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How Today’s Jobs Report Surprised Traders

January 5, 2007

This morning’s Non-Farm Payrolls report (i.e. the number of new jobs created for industries other than farming) registered a 167,000 gain in November This is tremendously higher than the 115,000 jobs economists had predicted. Markets were caught leaning in the wrong direction after an ADP report released Wednesday said that 40,000 jobs were likely lost […]

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Once Bitten, Twice Shy: ADP Says Jobs Were Lost in December

January 4, 2007

This summer, economists were predicting that 175,000 new jobs were created in June and then payroll processor ADP shared their own estimate of 368,000 with the markets. In a panic, mortgage rates moved higher because – well, what if ADP was right?!? The actual figure turned out to be 121,000. That major miss jolted the […]

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