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Market Housing Update November .. Real estate experts

Saturday, November 7, 2015   /   by Rummy Dhanoa

Market Housing Update November .. Real estate experts

riday… both the bond and stock markets were subjected to selling pressure for much of the session following a significantly stronger than forecast October jobs report. The jobs data released today makes it far more likely the Federal Reserve will raise interest rates at their December 16 FOMC meeting. The 30-Day Fed Fund futures prices are now showing a 70% probability for a December rate hike, up from yesterday’s 58% probability reading.

As far as revisions went, the change in total nonfarm payroll employment for August was revised higher from 136,000 to 153,000, and the change for September was revised lower from 142,000 to 137,000. With these revisions, employment gains in August and September combined were 12,000 more than previously reported. Over the past three months, job gains have averaged 187,000 per month.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 2.1 million in October and has shown little change since June. These individuals accounted for 26.8% of the unemployed in October. The civilian labor force participation rate was unchanged at 62.4% in October, following a decline of 0.2% in September.

Summary of today’s economic data

Nonfarm Payrolls: Actual = 271,000; Consensus = 181,000; Prior = 137,000 revised lower from 142,000

Nonfarm Private Payrolls: Actual = 268,000; Consensus = 160,000; Prior = 149,000 revised higher from 118,000

Unemployment Rate: Actual = 5.0%; Consensus = 5.1%; Prior = 5.1%

Hourly Earnings: Actual = 0.4%; Consensus = 0.2%; Prior = 0.0%

Average Workweek: Actual = 34.5; Consensus = 34.5; Prior = 34.5
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The data relating to real estate for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Rummy Dhanoa - eXp Realty - New York Real Estate Experts are marked with the One Key, Inc logo or an abbreviated logo and detailed information about them includes the name of the listing broker.

The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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