Key labor market data revealed mixed results, including lower-than-expected job gains missing the mark. However, a better unemployment rate counterbalanced those job gains.
Economists viewed the data as roughly neutral. The other major economic news contained no surprises. Therefore, mortgage rates ended the week with little change.
Dampened Job Gains
Analysts closely watched last Friday's employment report. The latest report suggested that COVID-19 dampened job gains. Unfortunately, the leisure and hospitality sectors experienced this impact the most. Against a consensus forecast of 720,000, the economy added just 235,000 jobs in August 2021....