On Friday the Labor Department reported that the unemployment rate has dropped from 9.9% to 9.7% in the month of May. Generally every little bit of positive movement helps to strengthen the economy. Many analysts are however calling this a disappointing number as most of the jobs posted are from temporary census workers being hired.
The Fed is not expected to raise interest rates on the news. I wouldn't expect a small decline like this to sway the Fed's decision to keep rates low to stimulate the economy.
Are you or someone you know suffering from unemployment due to the weak economy? I would love to hear your story.
To view your neighborhood values, visit http://www.joshmcknight.com
Unemployment Rate Dropped Slightly
On Friday the Labor Department reported that the unemployment rate has dropped from 9.9% to 9.7% in the month of May. Generally every little bit of positive movement helps to strengthen the economy. Many analysts are however calling this a disappointing number as most of the jobs posted are from temporary census workers being hired.
The Fed is not expected to raise interest rates on the news. I wouldn't expect a small decline like this to sway the Fed's decision to keep rates low to stimulate the economy.
Are you or someone you know suffering from unemployment due to the weak economy? I would love to hear your story.
To view your neighborhood values, visit http://www.joshmcknight.com
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