Breakthrough Job Gains as Labor Market Makes Vast Improvements
The monthly employment report brought stronger than anticipated data as the U.S. achieved breakthrough job gains. Simultaneously, incoming Institute of Supply Management (ISM) service data also yielded great news.
As the United States economy took home a couple of "wins," the impact negatively affected mortgage markets. Ultimately, mortgage rates ended the week slightly higher.
Breakthrough Job Gains
In July 2021, employment realized breakthrough job gains, gaining 943,000. Overall, this soared far above the consensus forecast of 850,000. Additionally, anal...