Well, when you have 85k jobs lost in December and the unemployment rate is at 10%, the New Year doesn’t particularly look that promising to you if you’re getting fitted for that cap and gown in May.
While many are saying that the economy is “switching gears”, a 10% unemployment rate isn’t really indicative of that, now is it?
I was reading an article this morning that said that, in a broader measure, we have 17.3% of the labor force that is unemployed, and the civilian labor force has dropped by over 661,000 people.
Explain to me again how our economy is getting better?
Regardless of every single economic report that comes out, our economy will not be on the road to recovery until these numbers go down and jobs are created.
“No tiki, no laundry!”
In regards to mortgage rates this morning, we’re teetering back and forth. We were up 32 bps, then down 3, and now currently up 16, but not enough for any major movements.
Personally, I took a locking stance yesterday because I didn’t want to gamble with today’s reports, however if you can stomach it, continue to float if you have a little “Vegas” in you.
