Friday, October 5, 2007

Strong Jobs Report and Upward Revision to August

I don't know about you, but I still have the foggiest crystal ball that I have ever had. With all this "mortgage meltdown" and "housing slump", we are still creating JOBS. The Labor Department just released their report showing employers boosted payrolls by 110,000 and adjusted August from a loss of 4,000 to a gain of 89,000. In reality, they are saying 203,000 more jobs have been added. So much for a recession.
This is good and OK news. It is good because the more people working and the higher the wages makes home ownership more affordable. Also, the better our economy is doing the quicker we will rebound from this real estate market. The OK part is that the better the economy is doing, the less likely rates will go down. Another way of increasing affordability. Right now I would love to see lower rates and less mortgage issues. That would be the quick fix. But in the long run, a better economy and more jobs is more sustainable.
I look forward to our Arizona Job report due out September 20Th.

http://money.aol.com/marketnews/bonds/article


By the way, HOW ABOUT THOSE ARIZONA DIAMONDBACKS!

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