Video Transcript
Finally we're getting the jobs data from September with the government shut down over and agencies getting back to speed. We'll see it this Thursday, November 19. And better late than never, I guess. But this is economic data that we would have seen October 3, which means it's stale. And Wall Street will have mostly moved on. So this is a no-win situation in a lot of ways. If the data's strong, it gets brushed off because we just came off a 6-week shutdown. And if the data's weak, it reinforces the idea that we're headed into recession, which may reduce your mortgage rate. But there's a third issue at play and that's at the head of the Bureau of Labor Statistics, the agency that produces the Non-Farm Payrolls report, she was fired in August after releasing a disappointing jobs report. So, data's coming out, it's six weeks old, and nobody's sure if it's an accurate read. For now, mortgage rates are down. I'm Dan with Homebuyer.com. Happy homebuying.
Can We Trust The Jobs Report?
The September jobs report will be released on November 19, following a six-week government shutdown. This data is considered stale, and its accuracy is questioned due to the recent firing of the Bureau of Labor Statistics head after a disappointing report in August.
Video Transcript
Finally we're getting the jobs data from September with the government shut down over and agencies getting back to speed. We'll see it this Thursday, November 19. And better late than never, I guess. But this is economic data that we would have seen October 3, which means it's stale. And Wall Street will have mostly moved on. So this is a no-win situation in a lot of ways. If the data's strong, it gets brushed off because we just came off a 6-week shutdown. And if the data's weak, it reinforces the idea that we're headed into recession, which may reduce your mortgage rate. But there's a third issue at play and that's at the head of the Bureau of Labor Statistics, the agency that produces the Non-Farm Payrolls report, she was fired in August after releasing a disappointing jobs report. So, data's coming out, it's six weeks old, and nobody's sure if it's an accurate read. For now, mortgage rates are down. I'm Dan with Homebuyer.com. Happy homebuying.










