Tag Archives: Jobs

For the fourth consecutive quarter, the mortgage industry posted a net gain in jobs, according to Mortgage Daily├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Second Quarter 2012 Mortgage Employment Index. However, the net gain reported in the second quarter is well under the gain reported for the first quarter of the year. According to the report, 1,335 jobs were added to the mortgage industry in the second quarter, down from 2,969 added in the first quarter but up from a net loss of 464 jobs a year ago. The net gain is the result of 5,580 hirings and 4,245 layoffs in the sector over the second quarter.

First time claims for unemployment were unchanged at 374,000 for the week ended August 25, the Labor Department reported Thursday after revising upward by 2,000 the prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós originally reported 372,000 claims. Economists surveyed by Bloomberg had expected 370,000 initial claims. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô dipped 5,000 to 3,316,000 from the prior week's 3,321,000, revised from the originally reported 3,317,000. The BLS report will be published September 7. From mid-July to mid-August, first time claims are down 14,000 but continuing claims.

First time claims for unemployment insurance increased 4,000 for the week ended Aug. 18 to 372,000, the highest level in a month, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 365,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 368,000 from the originally reported 366,000. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô increased 4,000 to 3,317,000 from the prior week's 3,313,000, revised from the originally reported 3,305,000.

The 30-year fixed-rate mortgage slipped to 3.42 percent this week as market watchers waited for news about the economy. Zillow found the benchmark home loan falling from 3.44 percent last week, only after peaking at 3.47 percent on Wednesday. Interest rates for the 15-year fixed-rate mortgage averaged 2.76 percent, while those for 5-year and 1-year adjustable-rate mortgages hovered around 2.4 percent. Mortgage rates zigzagged across much of the rest of the country, falling 12 basis points in New York but rising by three basis points in Illinois.

Strong employment reports boosted mortgage rates back up for the second week in a row, Freddie Mac reported Thursday. The GSE's Primary Mortgage Market Survey shows the 30-year fixed averaging 3.59 percent for the week ending August 9, an increase from 3.55 percent the previous week. The 15-year fixed also posted gains, averaging 2.84 percent for the week, up from 2.83 percent a week ago. The 5-year adjustable-rate mortgage followed, increasing to 2.77 percent from 2.75 percent the week before.

First time claims for unemployment insurance fell 6,000 for the week ended Aug 4 to 361,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 367,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 367,000 from the originally reported 365,000.

The nation added a surprising 163,000 jobs in July but the unemployment rate ticked up to 8.3 percent as the number of people working actually declined, the Bureau of Labor Statistics reported Friday. At the same time, June's paltry job gains originally reported at 80,000 were reduced to 64,000 while May├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós job numbers edged up to 87,000 from 77,000. Average weekly hours remained 34.5 and average hourly earnings rose to $19.77 from $19.75, continuing pressure on household incomes, as the economic recovery sputters along.

First time claims for unemployment insurance rose 8,000 for the week ended July 28 to 365,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 370,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 357,000 from the originally reported 353,000. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô fell 19,000 to 3,272,000 from the prior week's 3,291,000, revised from the originally reported 3,297,000. The numbers reflected a slightly stronger labor picture after a volatile few weeks.

First time claims for unemployment insurance fell 35,000 for the week ended July 21 to 353,000, the Labor Department reported Thursday. Economists surveyed by Bloomberg had expected 380,000 initial claims. The prior week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós total was revised up to 388,000 from the originally reported 386,000. The surprisingly strong report came just two weeks after initial claims had plunged to a four-year low ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 352,000 ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reflecting seasonal adjustments to account for annual auto industry furloughs as car makers retool for a new model year.

A weakened second quarter may indicate a slowdown in economic activity for the rest of the year, Fannie Mae reported Monday. According to a report from the GSE, its Economic & Strategic Research Group may have been too optimistic in its original 2012 GDP growth projection of 2.2 percent. Its revised growth rate estimate is 2.0 percent. Despite the downgrade in anticipated economic growth, Fannie Mae found a silver lining in the housing market. Year-over-year, home sales increased by 9 percent, and single-family housing starts are nearly 20 percent higher (although still below healthy norms).