Lets Talk About New Jobs

Dated: 06/17/2013

Views: 1303

On 6/7/2013, the Labor Department reported that 175,000 new jobs were created in May, a slight increase over the projected 159,000 they had expected. Even so, the unemployment rate slightly rose to 7.6 percent from 7.5 percent. This increase in the unemployment rate was due to more job seekers entering the labor force.

The Jobs Report also showed that the Labor Force Participation Rate (LFPR) inched up to 63.4 % from the thirty-five year low of 63.3%. The LFPR calculation is simple. If you are 16 years old and not in the military, then you either have a job or you don't. The ratio of people "participating" or working is then compared to the total population.

In the housing sector, research firm CoreLogic reported that national home prices, including distressed sales, rose 12.1 percent in the year ended in April and were up 3.2 percent from March to April. The rise was the largest annual gain since February 2006. However, prices are still 22.4 percent lower than their peak from April 2006. Overall, the housing sector continues to receive positive news.
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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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