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Tag Archives: Unemployment

Mortgage Employment Increases in Q3

Hiring in the mortgage industry increased in Q3 for the fifth straight quarter, according to Mortgage Daily's Mortgage Employment Index. The index shows 8,711 hires were made in the year's third quarter, up more than 3,000 from the last quarter and nearly 3,500 from Q3 2011. Even with an estimated 5,785 layoffs, the industry saw a net increase of nearly 3,000 jobs--more than double the gain in Q2. For 2012's first three quarters, mortgage and real estate finance companies recruited 7,230 more people than they've laid off.

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Fannie Mae Revises Forecast in Light of Positive Developments

According to Fannie Mae, the fundamentals are set in place for a solid housing recovery. The GSE revised its housing forecast for this year and the next to reflect changes made in the housing market, including low interest rates, rising prices, and a healing labor market. Analysts for the company also note that there is an upside risk to their forecast, as "pent-up demand amid stronger household formation may result in stronger housing activity next year" than what's expected.

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Sandy Cuts Jobless Claims

First-time claims for unemployment insurance fell 8,000 to 363,000 for the week ended November 3, the Labor Department reported Thursday. Economists expected 370,000 initial claims filing. It was the third straight weekly decline and the fifth drop in the last seven weeks.

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Unemployment Rate Inches Up Even as Jobs Numbers Increase

The nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós unemployment rate inched up to 7.9 percent in October, even as the economy added 171,000 jobs, the Bureau of Labor Statistics reported Friday. The labor force--the sum of employed and unemployed--improved in October, causing the bump in the unemployment rate and signaling renewed confidence among those on the sidelines that jobs are available. With its mixed results, the report provides fodder for both President Barack Obama and Governor Mitt Romney four days before Election Day.

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First-Time Unemployment Claims Tumble

Unemployment

First-time claims for unemployment insurance fell 9,000 to 363,000 for the week ended October 27, the Labor Department reported Thursday. It was the second straight weekly decline and the fourth drop in the last six weeks. The initial claims report has been unusually volatile for the last month, with wide swings in the seasonal adjustment factors used by the Labor Department to "normalize" the data. The seasonal adjustment for next week's report will be "unfavorable," bumping first-time claims higher.

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September Spending Growth Outpaces Income

Consumer spending rose $87.9 billion, 0.8 percent, in September twice the 0.4 percent growth in personal income, $48.1 billion, the Bureau of Economic Analysis reported Monday. While the increase in income matched economist expectations, the increase in spending was higher than forecast. It was the third straight month spending grew faster than income, confirming last Friday's report showing a solid growth in Gross Domestic Product from 1.3 percent in the second quarter to 2.0 percent in the third.

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First-Time Jobless Claims Drop Sharply

First-time claims for unemployment insurance fell 23,000 to 369,000 for the week ended October 20, the Labor Department reported Thursday. Economists expected initial claims to fall to 372,000. The initial claims report has been unusually volatile for the last month with wide swings in the seasonal adjustment factors used by the Labor Department to "normalize" the data. However, the factor used for this week's report was virtually the same as the factor used a week ago, suggesting the sharp drop in claims reflects a truer reading of the labor market.

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