According to the Bureau of Labor Statistics (BLS) and its November 2012 Non-Farm Payrolls report, the U.S. economy added 146,000 net new jobs last month. November's job growth exceeded Wall Street expectations of 90,000 jobs added for the month, and was a small increase from October's 138,000 jobs added. Three job sectors in which employment rose in November include : Retail : 58,000 jobs added Business and Professional Services : 43,000 jobs added Healthcare : 20,000 jobs added It appears that the effects of Hurricane Sandy were muted, although they may be temporarily overshadowed by … [Read more...]

Friday morning, the government's Bureau of Labor Statistics will release its Non-Farm Payrolls report, more commonly called the "jobs report". Depending on how the jobs data reads, FHA and conforming mortgage rates may rise, or fall. This is because today’s mortgage market is closely tied to the U.S. economy, and the U.S. economy is closely tied to job growth. Economists expect that employers have added 125,000 net new jobs to their payrolls in October 2012, up from September's tally of 114,000 net new jobs. Jobs have been added to the economy over 24 consecutive months leading … [Read more...]