Jobs | Wage Growth

Mortgage and Lending with Benchmark Home Loans 173024

The Labor Department reported this morning that there were 263,000 jobs created in April, well above the 180,000 - 200,000 range expected while February and March were revised modestly higher by a total of 16,000. The unemployment rate fell to 3.6%, the lowest since December 1969 while average hourly earnings rose 0.2% versus the 0.3% expected.

In addition, the year-over-year wage growth number was 3.2%, matching the March number. This number came in lower than expectations, so with it comes less inflation expectations. The Labor Force Participation Rate edged lower to 62.8%. Total unemployed or the U6 number remained at 7.3%. Overall a solid report with a Goldilocks scenario of strong job growth with subdued inflationary pressures from wages.

Posted by

Steve Reed

Benchmark Home Loans

Branch Manager

NMLS #173024

Ark-La-Tex Financial Services, LLC NMLS #2143 

4138 Bristol Highway, Suite #4

Johnson City, TN 37601

Phone 423-232-0111

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Comments (2)

Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

Great report it is always great to have the latest information. Thanks for sharing, I hope you have a great weekend.

May 03, 2019 01:52 PM
Debe Maxwell, CRS | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

The market reacted very well to today's blowout numbers. Bodes well for consumer confidence and help with the spring housing market.

May 03, 2019 02:00 PM