Posted by: Larry Stevens | October 3, 2014

Will Rates Go Up Now That Unemployment Has Dropped Below Six Percent?

Real Estate Finance Insights

We learned this morning that the United States gained 248,000 jobs in the month of September, pushing the unemployment rate down to 5.9%, the lowest level since July 2008.  It has taken just over six years for the employment situation in the United States to get back to the levels we enjoyed prior to the onset of some of the darkest days of the Great Recession.

Unemployment Rate Graph Source: Calculated Risk Blog

Even August hasn’t turned out as bad as was first reported — the BLS revised that month’s employment gains from 142,000 up to 180,000.  In fact, right now 2014 is on pace to be the best year for both total and private sector job growth since 1999!

Still, September’s strong jobs growth could lead the Federal Reserve to start raising interest rates sooner, rather than later, next year if they’re followed by good numbers over the next…

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