[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fakny5bmaue7p":3,"$ffeh0925h8cuz":42,"$f2emv3tus0uf1":46,"$fbwk2pqjjqsc7":50},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1803,"what-experts-are-saying-about-the-2021-job-market","What Experts Are Saying about the 2021 Job Market","Earlier this month, the \u003Cem>Bureau of Labor Statistics\u003C\u002Fem> (BLS) released their most recent \u003Cem>\u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fpdf\u002Fempsit.pdf\">Jobs Report\u003C\u002Fa>\u003C\u002Fem>. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, \u003Cem>Chief Economics Commentator\u003C\u002Fem> at the \u003Cem>Wall Street Journal\u003C\u002Fem> (WSJ), \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002F86F72442EA56A4BB2540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">explains\u003C\u002Fa>:","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F19111249\u002F20210121-KCM-Share.jpg","Earlier this month, the \u003Cem>Bureau of Labor Statistics\u003C\u002Fem> (BLS) released their most recent \u003Cem>\u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fnews.release\u002Fpdf\u002Fempsit.pdf\">Jobs Report\u003C\u002Fa>\u003C\u002Fem>. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, \u003Cem>Chief Economics Commentator\u003C\u002Fem> at the \u003Cem>Wall Street Journal\u003C\u002Fem> (WSJ), \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002F86F72442EA56A4BB2540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">explains\u003C\u002Fa>:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement parks, \u003Cstrong>tumbled 498,000\u003C\u002Fstrong>.” \u003C\u002Fem>\u003C\u002Fblockquote>\r\nIn the same report, Michael Pearce, \u003Cem>Senior U.S. Economist \u003C\u002Fem>of \u003Cem>Capital Economics,\u003C\u002Fem> agreed:\r\n\u003Cblockquote>\u003Cem>“The 140,000 drop in non-farm payrolls was entirely due to a massive plunge in leisure and hospitality employment, as bars and restaurants across the country have been forced to close in response to the surge in coronavirus infections. With employment in most other sectors rising strongly, the economy appears to be carrying more momentum into 2021 than we had thought.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nOnce the vaccine is distributed throughout the country and the pandemic is successfully under control, the vast majority of those 480,000 jobs will come back.\r\n\r\nHere are two additional comments from other experts, also \u003Ca href=\"https:\u002F\u002Feconomics.cmail19.com\u002Ft\u002FViewEmail\u002Fd\u002F86F72442EA56A4BB2540EF23F30FEDED\u002F5323CD85A2087AFD22947492D9797BBC\">reported\u003C\u002Fa> by the WSJ that day:\r\n\u003Ch5>\u003Cstrong>Nick Bunker, \u003Cem>Head of Research in North America\u003C\u002Fem> for \u003Cem>Indeed\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“These numbers are distressing, but they are reflective of the time when coronavirus vaccines were not rolled out and federal fiscal policy was still deadlocked. Hopefully, the recent legislation can help build a bridge to a time when vaccines are fully rolled out and the labor market can sustainably heal.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch5>\u003Cstrong>Michael Feroli, \u003Cem>Chief U.S. Economist\u003C\u002Fem> for \u003Cem>JPMorgan Chase\u003C\u002Fem>:\u003C\u002Fstrong>\u003C\u002Fh5>\r\n\u003Cblockquote>\u003Cem>“The good news in today’s report is that outside the hopefully temporary hit to the food service industry, the rest of the labor market appears to be holding in despite the latest public health challenges.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch4>\u003Cstrong>What impact will this have on the real estate market in 2021?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nSome are concerned that with millions of Americans unemployed, we may see distressed properties (foreclosures and short sales) dominate the housing market once again. Rick Sharga, \u003Cem>Executive Vice President\u003C\u002Fem> at \u003Cem>RealtyTrac\u003C\u002Fem>, along with most other experts, doesn’t believe that will be the \u003Ca href=\"https:\u002F\u002Fwww.realtytrac.com\u002Fnews\u002Fwhy-the-2021-real-estate-recession-will-be-different-from-2008\u002F\">case\u003C\u002Fa>:\r\n\u003Cblockquote>\u003Cem>“There are reasons to be cautiously optimistic despite massive unemployment levels and uncertainty about government policies under the new Administration. But while anything is possible, it’s highly unlikely that we’ll see another foreclosure tsunami or housing market crash.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nFor the households that lost a wage earner, these are extremely difficult times. Hopefully, the new stimulus package will lessen some of their pain. The health crisis, however, should vastly improve by mid-year with expectations that the jobs market will also progress significantly.","\r\nFor the households that lost a wage earner, these are extremely difficult times. Hopefully, the new stimulus package will lessen some of their pain. The health crisis, however, should vastly improve by mid-year with expectations that the jobs market will also progress significantly.",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},6,"For Sellers","sellers",{"id":25,"name":26,"slug":27},7,"Foreclosures","foreclosures","2021-01-21T10:00:49Z","2021-01-21T11:00:49Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},1802,"owning-a-home-is-still-more-affordable-than-renting-one","Owning a Home Is Still More Affordable Than Renting One","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F19103210\u002F20210120-KCM-Share.jpg","2021-01-20T10:00:46Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},1804,"financial-fundamentals-for-homebuyers-infographic","Financial Fundamentals for Homebuyers [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F01\u002F21112615\u002F20210122-KCM-Share.png","2021-01-22T11:00:04Z",{"cover":43,"open":44,"shareSpread":45},"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":47,"open":48,"shareSpread":49},"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",[51,55,56,57,58,62,66,70,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154,158],{"id":52,"name":53,"slug":54},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":21,"name":22,"slug":23},{"id":25,"name":26,"slug":27},{"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"]