July payrolls released this morning grew by 209,000, enough to stop cold a decline in mortgage and other long-term rates and roughly double the monthly gain, which would stabilize the unemployment rate at today’s 4.3 percent — either stop hiring, or add more people to the work force, or the rate of unemployment will continue to fall, presumably below zero, and with who-knows-what consequences for wages and inflation.
EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019