Job Market Review For December 2013

Dated: 01/21/2014

Views: 1209

Although it looked like the job market was improving, the Jobs Report showed that only 74,000 jobs were added in December. This was well below expectations and was the smallest increase since January 2011. On the positive side, the number of job creations for November was revised higher by 38,000, bringing November’s total to 241,000.  Conversely, the Unemployment Rate fell to 6.7 percent, which is the lowest level since October 2008.  The Labor Force Participation Rate (LFPR) dropped to 62.8 percent, matching the number from October 2013 as the lowest level since the late 1970's. The LFPR measures the proportion of working-age Americans who have a job or are looking for one, and it should be moving higher in a recovery. In addition, 347,000 people left the workforce last month, though it is unclear whether these are people retiring, people leaving the labor force because they can’t find a job, or a mixture of both. 
In spite of these numbers the Real Estate Industry is still moving in the right direction here in the Charleston area.  In part due to the increase of new businesses and increasing the labor force here. 
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Janis St. Onge

I am a certified Short Sale and Foreclosure Resource (SFR) who works with first time home-buyers, empty-nesters and investors. Call me today and let me be your eyes and ears in the Charleston tri-cou....

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