Video Transcript
Today is the first Friday of the month, which means it's Jobs Report Day is what I would say if the government was functioning and doing all the things we've come to expect it to do. But it's not. And there will be no jobs report today. And no update on how many net new jobs were created last month or lost. No update on the Unemployment Rate to get a better look at the U.S. workforce. No wage earnings reports to see if income is keeping up with the cost of living. Most of all, no new info for the Federal Reserve ahead of its last meeting of the year, which happens next week. For context, the jobs report, it's the largest data mover of mortgage rates and markets most months. This month, it's just not getting released. So mortgage rates may be extra jumpy next week as a result, especially Wednesday afternoon when the Fed adjourns at 2:00 PM Eastern. I'm Dan with Homebuyer.com. Happy homebuying.
The Government Won't Issue The December Jobs Report
The December jobs report will not be issued due to government dysfunction, leaving key labor market data unavailable. This includes updates on job creation or loss, the unemployment rate, and wage earnings, which are important for the Federal Reserve's upcoming meeting.
Video Transcript
Today is the first Friday of the month, which means it's Jobs Report Day is what I would say if the government was functioning and doing all the things we've come to expect it to do. But it's not. And there will be no jobs report today. And no update on how many net new jobs were created last month or lost. No update on the Unemployment Rate to get a better look at the U.S. workforce. No wage earnings reports to see if income is keeping up with the cost of living. Most of all, no new info for the Federal Reserve ahead of its last meeting of the year, which happens next week. For context, the jobs report, it's the largest data mover of mortgage rates and markets most months. This month, it's just not getting released. So mortgage rates may be extra jumpy next week as a result, especially Wednesday afternoon when the Fed adjourns at 2:00 PM Eastern. I'm Dan with Homebuyer.com. Happy homebuying.
