The Labor Department’s Jobs Report

The Labor Department’s Jobs Report came in much worse than analysts expected, with 240,000 jobs lost in October. In addition, the Unemployment Rate jumped to its highest level since 1994.

In market news, Stocks are coming off their worst back-to-back days since the 1987 Stock Market crash. Although Stocks opened higher this morning, they could be in for more of a decline as today’s poor Jobs Report sinks in. This could create selling pressure on Stocks, which may help bonds improve.

Currently, prices are battling a strong ceiling of resistance. Should prices break out above current levels, it would be very bullish. Therefore, I recommend floating, even though prices are modestly weaker right now and may even worsen slightly before bouncing.

This entry was posted in FHA, Franklin Loan Center, Jobs Report, Sean La Rue, Unemployment by Sean La Rue. Bookmark the permalink.

About Sean La Rue

Sean lives in the Palm Desert area and works with Franklin Loan Center as the Senior Vice President. Sean is ready to provide you the concierge level-of-service experience in purchasing or refinancing a home in Palm Springs, Palm Desert, La Quinta, Rancho Mirage, Coachella, Indio, or anywhere in California. His commitment is to treat your home loan like his own because he cares about your family.

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