Job Gains See a Startling Plummet Lowering Mortgage Rates
This past week marked disappointment in the labor market as job gains see a startling plummet. The major economic data accompanied by Friday's labor market report fell well below analyst expectations. As a result, mortgage rates ended the week lower.
Why Did We See Such a Shortfall in Job Gains?
The monthly employment report was highly anticipated. Without a doubt, the report saw an enormous miss, but the reason why is far less clear. In April, job gains saw a surprising downturn when the economy gained just 266,000 jobs. Thus, job gains notched far below the consensus...