Unemployment Drops to 7.7 as New Jobs are Created

Unemployment Drops to 7.7 as New Jobs are Created- 4 year low in unemployment combined with the all time historical low mortgage rates is a full proof recipe for a surge in real estate activity, that is good news for sellers and buyers alike. Jackson Heights has already seen a surge in prices, and with the aid of the improving economic conditions it is sure to see a steady climb.

— Real Estate Intelligence


Dec. 7, 2012

Unemployment Drops to 7.7 as New Jobs are Created

The national unemployment rate for November fell to 7.7 percent, according to the Bureau of Labor Statistics.  That is the lowest unemployment rate since February 2009.   Unemployment has slowly but steadily declined during 2012, which began with an 8.3 percent unemployment rate. The year has seen modest, but consistent job growth. Approximately 146,000 new jobs were added to the economy during November, close to the monthly average of 151,000 new jobs for 2012.    Employment sectors seeing job growth for the month were wholesale and retail trade, professional and business services, health care, and leisure and hospitality.  Jobs were lost in the construction industry, while employment figures remained steady in manufacturing, mining, transportation, financial services and public employment sectors.   Unemployment figures for December will be released on Friday, Jan. 4, 2013.