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The [Bureau of Labor Statistics employment report] showed employment up by more than one million in July, as the number of unemployed fell and more people returned to the labor force. Although there are concerns regarding the impact of the delta variant, these data show an economy that was continuing to recover in July.”
–MBA Chief Economist Mike Fratantoni

April Jobs Numbers Come in Well Below Consensus

In the days ahead of last Friday’s employment report from the Bureau of Labor Statistics, prognosticators went big, with consensus anticipating nearly one million new April jobs and even one economist confidently predicting 2.1 million new jobs. Alas, nearly everyone was wrong.

March Jobs Report: Full Steam Ahead

Another sign that the U.S. economy is heating up: the Bureau of Labor Statistics on Friday reported total nonfarm payroll employment rose by 916,000 in March, while the unemployment rate fell to 6 percent.

January Employment Picture Brightens a Little

Employers added 49,000 jobs in January, the Bureau of Labor Statistics reported Friday. And while the unemployment rate fell from 6.7% to 6.3%, Americans are still dealing with nearly 10 million jobs fewer than a year ago as a result of the coronavirus pandemic.

Job Losses Mark December Employment Report

The U.S. economy shed 140,000 jobs in December, the Bureau of Labor Statistics reported Friday, although the unemployment rate held steady at 6.7 percent.

Employers Add 638,000 Jobs; Unemployment Remains Elevated

The economy continued its high-low pattern in Friday’s employment report from the Bureau of Labor Statistics. While total nonfarm payroll employment rose by a strong 638,000 in October, and the unemployment rate fell to 6.9 percent, both numbers reflect the devastating economic effects of the coronavirus pandemic.

(#MBA Live) Housing, Mortgage Markets Show Resiliency, Agility

With all that has hit the mortgage industry over the past several months, Mortgage Bankers Association Chief Economist Mike Fratantoni has a positive message for mortgage lenders and servicers: “It seems like the industry has done a fantastic job of finding solutions in this crazy environment,” Fratantoni said yesterday during MBA Live: Technology Solutions Conference.

(#MBA Live) Housing, Mortgage Markets Show Resiliency, Agility

With all that has hit the mortgage industry over the past several months, Mortgage Bankers Association Chief Economist Mike Fratantoni has a positive message for mortgage lenders and servicers: “It seems like the industry has done a fantastic job of finding solutions in this crazy environment,” Fratantoni said yesterday during MBA Live: Technology Solutions Conference.

MBA Chart of the Week: Proportion of Work Being Performed Remotely

MBA’s Chart of the Week three weeks ago (May 8) focused on the U.S. Bureau of Labor Statistics’ bleak April report on employment conditions. We examined which industries and sectors have been hardest hit by the COVID-19 pandemic. This week, we continue our examination of the labor market using new survey data released by the Federal Reserve Board, and examine, by education level, how many people were able to work from home as the crisis deepened in early April.