Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Good November Jobs Report Points To Higher Mortgage Rates, Likely More Rate Hikes Coming From The Fed (REAL Wage Growth At -2.2% YoY, US Yield Curve Inverted For 109 Straight Days)
Confounded Interest ^ | 12/02/2022 | Anthony B. Sanders

Posted on 12/02/2022 7:58:02 AM PST by Kaiser8408a

Unlike yesterday’s ADP jobs report (only 127k jobs added), the official Federal government report shows 263k jobs added. I like the ADP report, but The Fed pays attention to the BLS numbers. So, …

U.S. employers added 263,000 jobs in November, and the nation’s unemployment rate stayed the same at 3.7 percent, according to data released Friday by the Labor Department. Meanwhile, average hourly pay for workers rose 5.1 percent from a year earlier, to $32.82 from $31.23. But the US headline inflation rate at the last reading was 7.7% YoY that equates to -2.2% REAL Average Hourly Earnings YoY.

Mortgage rates fell to 6.51 yesterday, but expectations of Fed rate hikes (WIRP) and the 10-year Treasury yield are up today. In fact, the 10-year US Treasury yield is up 10 basis points this morning. This will likely translate to higher mortgage rate today.

Inflation is still the humming dragon crushhing the US middle class and at last report stood at 7.7% YoY. Average hourly earnings YoY rose to 5.1% in November, which is good. But inflation takes a huge bite out that number, resulting in -2.2% YoY REAL average hourly earnings.

And the US 10Y-2Y Treasury yield curve has been inverted for 109 straight days.

Here is the rest of the jobs report.

The biggest gainer? Motion picture and sound recording industries followed by logging (with rising energy prices, people have to heat their homes somehow).

(Excerpt) Read more at confoundedinterest.net ...


TOPICS: Business/Economy; Food; Government; Politics
KEYWORDS: blogpimp; inflation; jobs; recession; retread; wages
Wow, Biden's jobs added is almost twice as big as the private sector's ADP report. Would I put that past Biden and the Swamp Monsters? No.
1 posted on 12/02/2022 7:58:02 AM PST by Kaiser8408a
[ Post Reply | Private Reply | View Replies]

To: Kaiser8408a

One of these things is not like the other.


2 posted on 12/02/2022 8:02:55 AM PST by Sirius Lee (They intend to murder us. Prep if you want to live and live like you are prepping for eternal life)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaiser8408a

The Market is down a half a percent on the news...Yay.


3 posted on 12/02/2022 8:03:29 AM PST by Shady (The #JihadJunta: "We are now a nation of Men, Not of Laws. You are not as equal as we are...")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaiser8408a
Good = bad

got it?

4 posted on 12/02/2022 8:06:09 AM PST by Magnum44 (...against all enemies, foreign and domestic... )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Shady

Market sees good jobs report as a reason the Fed will continue strong interest rate hikes.

Darned if you do, darned of you don’t. Great position for America to be in.


5 posted on 12/02/2022 8:10:29 AM PST by Nathan _in_Arkansas (Hoist the black flag and begin slitting throats. )
[ Post Reply | Private Reply | To 3 | View Replies]

To: Kaiser8408a

Doesn’t November usually show a very large jobs gain ?, prepping for Christmas, especially with plenty of cash in peep’s pockets ?


6 posted on 12/02/2022 8:25:16 AM PST by chiller (Davey Crockett said: "Be sure you're right. Then go ahead'. I'll go ahead.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaiser8408a

You can only stay in panic for so long, eventually you calm down even as things get worse.

It’s a natural defense mechanism to keep you operating instead of paralyzed by needless fear.


7 posted on 12/02/2022 8:30:44 AM PST by SaxxonWoods (The only way to secure your own future is to create it yourself.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaiser8408a

And oh by the way:

“US Yield Curve Inverted For 109 Straight Days)”

No, the 3 month T-Bill has moved back below the 10 year for the first time in a while. An inversion of the 3 month above the 10yr Bond is considered the strongest indicator of recession.


8 posted on 12/02/2022 8:34:15 AM PST by SaxxonWoods (The only way to secure your own future is to create it yourself.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaiser8408a

Anomalies galore. Wages increased .5% while productivity is still going down.


9 posted on 12/02/2022 3:54:26 PM PST by griswold3 (Truth, Beauty and Goodness )
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson