Jobs, Jobs, JOBS!!!

Written by Posted On Monday, 04 September 2023 00:00

Thursday we got the new jobless claims and continuing claims numbers, and Friday we got the BLS Jobs Report for the month of August. The initial jobless claims and continuing claims number are always important, but they will serve to lay the foundation of the BLS Jobs Report that can really move the markets.

For the past several FED meetings, the governors have pointed to the steady decline in initial claims and the growth of jobs in the market to show that the economy is still too robust to stop raising interest rates. Despite the fact that the BLS just released an important report stating that from April of 2022 to March of 2023, they have overstated the number of jobs by more than 300,000 jobs! That’s not a small number. In fact, when put into real terms, that is a miss of more than 9% on a monthly basis. When you add into the numbers that ADP numbers have been wildly out of touch with reality to the point that people are now almost completely ignoring them, it makes you wonder that with all the actual technology we have at our disposal, how are these “season adjustments” “phone surveys” and the “birth/death model” need to be looked into and either improved or replaced. NOBODY but the FED really believes the numbers!

Please watch the reports today and on Friday. They both can move the markets, but if the BLS numbers show a weaking in the job market and softer wage pressure, we could see big improvements in the bond market. Strong numbers and we could see rates go higher quickly as it will give the FED ammunition for yet more rate hikes!

On the brighter side, purchase activity is strong despite 7% rates as many are understanding its about the Monthly VALUE of the payment, and not the rate! We also need to focus on our accountant list so we cam make our calls next week and start connecting with those filing those tax returns for the clients who have extensions! It will be a busy few days before an opportunity packed Labor Day weekend!

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.


By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle.

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