Bloomberg (September 1)
“That jump in the unemployment rate was not a reflection of companies firing workers in anticipation of a slowdown.” A “very large 700,000 increase” in job seekers “caused the labor force participation rate to jump to 62.8%, the highest since before the pandemic.”
Tags: 62.8%, Companies, Firing, Highest, Job seekers, Jump, Labor force, Pandemic, Participation rate, Slowdown, Unemployment rate, Workers
Houston Chronicle (June 17)
“U.S. mortgage rates had their biggest one-week jump in 35 years…. The 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.” This is likely to accelerate the trend as higher borrowing rates have already been cooling the housing market. “Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared.”
Tags: 2008, 30-year rate, 5.78%, Borrowing, Buyers, Home prices, Housing crisis, Jump, Mortgage rates, Sales, Soared, U.S.
