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Employment and Salary Numbers Improve in November

By
Real Estate Agent with Hart Real Estate Solutions RRE-BRO-LIC-24638

 

Employment and salary numbers continued to improve in November—a good sign for other finance sectors including housing. The Bureau of Labor released a report that highlighted several positive trends.

Payroll employment expanded by 321,000 people in the month of November. That increase was far above the expected amount set in previous months. Monthly employment gains in 2014 had averaged around 233,000. Job gains in September and October also had to be revised, adding more than 44,000 people to their earlier figures.

The average workweek and average hourly pay rose for the US as a whole. The labor force expanded by 119,000 and the US’s current unemployment rate of 5.8% is considered to be at the high end of normal.

For a growing housing industry, wage concerns are often the most powerful retardant. Seeing positive news in the labor industry reflects well on the housing industry down the line. As more capital becomes available to more Americans, more homes can expect to be bought and sold, more often than not, at higher prices.

 

Source: http://eyeonhousing.org/2014/12/the-employment-situation-in-november-3-2-1-lift-off/

Comments (1)

Graham Holmes - Yucaipa Homes Listing Agent
Reviron Realty - RDCPro e-Pro Listing Broker - Yucaipa, CA
When Experience Matters

Thanks Tim. Let us all hope is continues to improve.

Dec 17, 2014 03:01 AM