On this unique video sequence on Inman, Windermere’s Principal Economist Jeff Tucker illuminates the newest stats, stories and numbers you must know. This week: The most recent employment numbers.
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At this time’s quantity you must know: 254,000
That’s the variety of jobs added this September, in line with the newest jobs report launched Friday, Oct. 4.
That exceeded expectations for 145,000 jobs added. Furthermore, the payroll counts for July and August had been revised up by 72,000 jobs mixed.
It’s additionally the perfect month of job good points since March of this yr, and it bucks the pattern of a cooling labor market this summer season.
Persevering with with the September jobs report, the following quantity to know proper now’s 4.1 %.
That’s the brand new unemployment price, which ticked downward barely from 4.2 %. The falling unemployment price and rebounding job development collectively paint an image of an economic system in higher form than it regarded this summer season. In different phrases, buyers are now not as anxious a few recession, which additionally means rates of interest gained’t must fall so far as shortly as many had been anticipating in September.
Which brings me to the final key quantity to know proper now: 6.5 %.
You may name this the grey lining to the rainbow of fantastic job development, which is that borrowing prices have stopped falling for now and, the truth is, firmed again up.
On the finish of the day, it nonetheless leaves mortgages considerably cheaper than they had been this spring, or presently final yr, nevertheless it’s a reminder that the rate-cutting cycle doesn’t deliver mortgage charges down in a clean, predictable path, however relatively in a “two steps down, one step up” form of a zigzag path.
Jeff Tucker is the Principal Economist for Windermere Actual Property in Seattle, Washington. Join with him on X or Fb.
