Summary
The latest U.S. jobs report showed a small increase in jobs in November after a significant loss in October. Unemployment hit a four-year high, and experts are divided on how this will affect mortgage rates. The Federal Reserve may face pressure to change interest rates based on these labor market conditions.
Key Facts
- The U.S. economy added 64,000 jobs in November, following a loss of 105,000 jobs in October.
- The unemployment rate rose to 4.6 percent in November, the highest in nearly four years.
- A government shutdown delayed several economic reports, complicating the analysis of the labor market.
- Experts indicate that the labor market is showing signs of weakness.
- The Federal Reserve may be pressured to adjust interest rates based on the jobs data.
- Mortgage rates are expected to stay the same for the near future, despite the job market's current state.
- President Trump supports further cuts to interest rates as a response to the job market's condition.
