First Jobs Report of the Year is a Good One

2011 trend of better, but slower than we'd like, economic news continues.

(Lake Tahoe Real Estate Blog / January 5, 2011 / Richard Bolen)

Here's what it says, "The job market is looking a little brighter at the start of the new year." It's via the Associated Press and it's in the first weekly jobs report of 2012.

As we've consistently reported since the onset of the tough economic times that started in late 2005, and got worse by 2008, they key to recovery is the US housing market, and the key to that is our national jobs market.

Here's a few bullet points in today's jobs report:

• Weekly unemployment benefit applications have fallen to levels last seen more than three years ago.

• The data released today shows a picture of an economy that is slowly strengthening.

• Today's report found Wall Street more focused on the debt crisis in Europe, which could slow U.S. growth later this year.

• Today's results of 373,250 unemployment applications are 11 percent lower than the same time last year.

• When applications drop below 375,000 – consistently – they generally signal that hiring is strong enough to reduce the unemployment rate.

(Full article here)

Another CNNMoney.com report today on this same information, though, says the unemployment rate could likely rise by a tenth of a point tomorrow, from 8.6% to 8.7%. Some economists are predicting this because the suspect more people will likely be seeking employment because there are more jobs to be had. (here)

Previous Lake Tahoe Real Estate Blog posts you may find resourceful:

Dec 27, 2011: 2011 Year End Economic Indicators
Dec 13, 2011: US Housing Affordability Now at Record High
Dec 12, 2011: South Lake Tahoe, CA Home Values and Distressed Sales right now
Oct 2, 2011: More South Lake Tahoe, CA Home Value is Q3 Trend
Jul 6, 2011: Q2 2011 South Lake Tahoe, CA Real Estate Report
Apr 2, 2011: Q1 2011 South Lake Tahoe, CA Real Estate Report
Jan 2, 2011: 2010 South Lake Tahoe Housing Demand Report