[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fllfmivvwxbtd":3,"$ffeh0925h8cuz":39,"$f2emv3tus0uf1":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":27,"next":33},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":25,"updatedAt":26},1684,"the-latest-unemployment-report-slow-and-steady-improvement","The Latest Unemployment Report: Slow and Steady Improvement","Last Friday, the\u003Cem> Bureau of Labor Statistics\u003C\u002Fem> (BLS) released its latest \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fempsit.nr0.htm\">Employment Situation Summary\u003C\u002Fa>. Going into the release, the \u003Ca href=\"https:\u002F\u002Fwww.calculatedriskblog.com\u002F2020\u002F08\u002Fjuly-employment-preview.html\">expert\u003C\u002Fa> consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F09105358\u002F20200810-KCM-Share-2.jpg","Last Friday, the\u003Cem> Bureau of Labor Statistics\u003C\u002Fem> (BLS) released its latest \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fempsit.nr0.htm\">Employment Situation Summary\u003C\u002Fa>. Going into the release, the \u003Ca href=\"https:\u002F\u002Fwww.calculatedriskblog.com\u002F2020\u002F08\u002Fjuly-employment-preview.html\">expert\u003C\u002Fa> consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.\u003C!--more-->\r\n\r\nWhen the official report came out, it revealed that \u003Cstrong>1.8 million jobs were added\u003C\u002Fstrong>, and the \u003Cstrong>unemployment rate fell to 10.2%\u003C\u002Fstrong> (from 11.1% last month). Once again, this is excellent news as this was the third consecutive month the unemployment rate decreased.\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F20200810-MEM-Eng-1-1.jpg\">\u003Cimg class=\"aligncenter wp-image-42815\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F20200810-MEM-Eng-1-1.jpg\" alt=\"The Latest Unemployment Report: Slow and Steady Improvement | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>There is, however, still a long way to go before the job market fully recovers. The \u003Cem>Wall Street Journal \u003C\u002Fem>(WSJ) put a potential \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002F1068CC5C02D98BD92540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">date\u003C\u002Fa> on that recovery:\r\n\u003Cblockquote>\u003Cem>“July’s payroll growth, at 1.8 million, still leaves total payrolls 12.9 million lower than in February. And yet if job gains continued at July’s pace, that deficit will be erased by March 2021. If payrolls reclaim their last peak in 13 months, that would be remarkably fast. It took more than six years after the last recession.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>Permanent vs. Temporary Unemployment\u003C\u002Fstrong>\u003C\u002Fh4>\r\nDuring a pandemic, it’s important to differentiate those who have lost their jobs on a temporary basis from those who have lost them on a permanent basis. \u003Cem>Morgan Stanley\u003C\u002Fem> economists noted in the same WSJ article:\r\n\u003Cblockquote>\u003Cem>“The rate of churn in the labor market remains incredibly high, but a notable positive detail in this month's report was the \u003Cstrong>downtick in the rate of new permanent layoffs\u003C\u002Fstrong>.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nTo address this, the \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2020\u002F06\u002F24\u002Fshould-we-be-looking-at-unemployment-numbers-differently\u002F\">core\u003C\u002Fa> unemployment rate becomes increasingly important. It identifies the number of people who have permanently lost their jobs. This measure subtracts temporary layoffs and adds unemployed who did not search for a job recently. Jed Kolko, \u003Cem>Chief Economist \u003C\u002Fem>at \u003Cem>Indeed\u003C\u002Fem> and the founder of the index \u003Ca href=\"https:\u002F\u002Ftwitter.com\u002FJedKolko\u002Fstatus\u002F1291716024782340100\">reported\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Core unemployment fell in July for the first time in the pandemic. That's the good news I was hoping for.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What about the housing market?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nThe housing market has continued to show tremendous resilience during the pandemic. Commenting on the labor report, Robert Dietz, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>National Association of Home Builders \u003C\u002Fem>(NAHB), \u003Ca href=\"https:\u002F\u002Ftwitter.com\u002Fdietz_econ\u002Fstatus\u002F1291715690328731649\">tweeted\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“Housing continues to rebound in another positive labor market report. Home builder and remodeler job gains of 24K for July. Residential construction employment down just 56.4K compared to a year ago. Total residential construction employment at 2.85 million.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWe should remain cautious in our optimism, as the recovery is ultimately tied to our future success in mitigating the ongoing health crisis. However, as Mike Fratantoni, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>Mortgage Bankers Association,\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.msn.com\u002Fen-us\u002Fmoney\u002Frealestate\u002Fhere-are-todays-best-mortgage-and-refinance-rates-for-august-7-2020\u002Far-BB17H7rr\">reminds us\u003C\u002Fa>: \u003Cem>“The pace of job growth slowed in July, but the gains over the past three months represent an impressive rebound during the ongoing economic challenges brought forth by the pandemic.\"\u003C\u002Fem>","\r\nWe should remain cautious in our optimism, as the recovery is ultimately tied to our future success in mitigating the ongoing health crisis. However, as Mike Fratantoni, \u003Cem>Chief Economist\u003C\u002Fem> for the \u003Cem>Mortgage Bankers Association,\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.msn.com\u002Fen-us\u002Fmoney\u002Frealestate\u002Fhere-are-todays-best-mortgage-and-refinance-rates-for-august-7-2020\u002Far-BB17H7rr\">reminds us\u003C\u002Fa>: \u003Cem>“The pace of job growth slowed in July, but the gains over the past three months represent an impressive rebound during the ongoing economic challenges brought forth by the pandemic.\"\u003C\u002Fem>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F20200810-MEM-Eng-1-1.jpg",false,[17,21],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers","2020-08-10T10:00:01Z","2020-08-10T10:00:02Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},1683,"2020-homebuyer-preferences-infographic","2020 Homebuyer Preferences [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F06152056\u002F20200807-KCM-Share.jpg","2020-08-07T10:00:31Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},1685,"current-buyer-seller-perks-in-the-housing-market","Current Buyer & Seller Perks in the Housing Market","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F08\u002F06144829\u002F20200810-KCM-Share-1.jpg","2020-08-11T10:00:00Z",{"cover":40,"open":41,"shareSpread":42},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[48,52,53,54,58,62,66,70,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154,158],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":55,"name":56,"slug":57},7,"Foreclosures","foreclosures",{"id":59,"name":60,"slug":61},8,"Infographics","infographics",{"id":63,"name":64,"slug":65},9,"Home Prices","home-prices",{"id":67,"name":68,"slug":69},11,"First-Time Buyers","first-time-buyers",{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":79,"name":80,"slug":81},38,"Move-Up","move-up",{"id":83,"name":84,"slug":85},41,"For Sale by Owner","for-sale-by-owner",{"id":87,"name":88,"slug":89},42,"Featured","featured",{"id":91,"name":92,"slug":93},45,"New Construction","new-construction",{"id":95,"name":96,"slug":97},52,"Luxury \u002F Vacation","luxury--vacation",{"id":99,"name":100,"slug":101},53,"Rent vs. Buy","rent-vs-buy",{"id":103,"name":104,"slug":105},80,"Time-sensitive","time-sensitive",{"id":107,"name":108,"slug":109},81,"Outdated","outdated",{"id":111,"name":112,"slug":113},147,"Internal","internal",{"id":115,"name":116,"slug":117},148,"Do Not Autopost","do-not-autopost",{"id":119,"name":120,"slug":121},320,"Inventory","inventory",{"id":123,"name":124,"slug":125},321,"Agent Value","agent-value",{"id":127,"name":128,"slug":129},322,"Affordability","affordability",{"id":131,"name":132,"slug":133},323,"Buying Tips","buying-tips",{"id":135,"name":136,"slug":137},324,"Downsize","downsize",{"id":139,"name":140,"slug":141},325,"Economy","economy",{"id":143,"name":144,"slug":145},326,"Equity","equity",{"id":147,"name":148,"slug":149},327,"Forecasts","forecasts",{"id":151,"name":152,"slug":153},328,"Selling Tips","selling-tips",{"id":155,"name":156,"slug":157},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":159,"name":160,"slug":161},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]