Paul Sakuma, AP
For most, a poor jobless report is a bad thing, including President Obama. But, homebuyers can look on the bright side as mortgages rates drop.
U.S. employers only added 96,000 jobs last month, according to Friday’s report from the Labor Department. The unemployment rate dropped to 8.1 percent, but only because many of the unemployed have stopped looking for work.
“We still see some areas where we need more improvement,” U.S. Secretary of Labor Hilda Solis told Bloomberg. “That’s why we need to have cooperation with the Congress. They’ve got a proposal up there, the American Jobs Act, that would help create a million jobs.”
But, the jobless report isn’t bad for everyone.
Despite the jobs report, yields on Frannie Mae and Freddie Mac mortgage securities fell to their lowest point in five years, according to Bloomberg. The drop in yields has staved off the effects of the European debt crisis on mortgage rates, lowering them from 3.66 percent to 3.55 percent.
- Lawsuit accuses state of illegally pursuing...
- 9 startup companies perfect for your family
- Chinatown Supermarket opens in South Salt Lake
- The wrath of Comic-Con: S.L. convention...
- Consumer index climbs to record level in Utah
- Dave Ramsey says: Don't touch that 529 plan
- BYU grad strikes gold teaching via online...
- U.S. economy grows at scorching 4 percent in...
- Fast food workers vow civil disobedience 18
- Dave Ramsey says: Don't leave an estate... 13
- San Diego Comic-Con tells Salt Lake... 12
- BYU grad strikes gold teaching via... 12
- Sarah Palin launches online... 10
- Dave Ramsey says: Don't touch that 529... 8
- The wrath of Comic-Con: S.L. convention... 8
- U.S. economy grows at scorching 4... 5