Weekly US unemployment claims fall to nine-month low.
(Lake Tahoe Real Estate Blog / December 8, 2011 / Richard Bolen)
How better US jobs news is good for South Lake Tahoe is simply this: the national jobs market is directly tied to the housing market. Steady improvement in our country's employment picture will eventually lead to first, home value stability, and secondly gradual return to higher home values.
What's good for today's home buyer is rising home values have not occurred yet, nor do we expect that in the near future. As one tracks the jobs market, though, there will become a point where it will cost more to buy a South Lake Tahoe home than it does now.
Today's jobs report cited 23,000 fewer unemployment claims than were expected.
Here's some bullet points in today's report as brought to us by CNNMoney.com:
- The number of Americans filing for first-time unemployment benefits fell to a nine-month low.
- This signals a bright spot in the tough employment environment.
- A level below 400,000 often signals job growth strong enough to lower the unemployment rate.
- These numbers could have been affected by seasonal adjustments for the Thanksgiving holiday.
(full article here, and another article about the same information from the New York Post here.)
Previous Lake Tahoe Real Estate Blog posts about jobs:
Aug 5, 2011: Better Jobs Report News
Jul 28, 2011: A Better Jobs Report… amid this Political Nonsense!
May 8, 2011: A Good Jobs Report
Mar 4, 2011: Jobs Report: Good News for all of Us, and South Lake Tahoe too.
Mar 3, 2011: Caution: positive South Lake Tahoe housing news found here
Feb 10, 2011: More Better Economic News for South Lake Tahoe
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