Much Better Jobs News… and that’s good for South Lake Tahoe.

December 31st, 2010 categories: Buyers Report, For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

The job market just got a little better

What's good for jobs… is better for South Lake Tahoe real estate home sales.

This welcomed report represents a significant corner turned on the road to US jobs market recovery. In a real sense, US jobs recovery is good for South Lake Tahoe housing too.

Throughout the downturn in the real estate market, a changed that started in the last quarter of 2005, we've written about the jobs market often. No real growth in housing will occur until employment gets better, and that's a fact.

Recently though, and this is one of the keys to a better stream of economic news over the last months, we have seen some positive movement in jobs recovery.

Associated PressIt is important to note that this latest report, which covers the week with the Christmas holiday, is considered by some economists to be less reliable than most. A cause for that thought is that many state offices close for at least one day, which affects the numbers… by a thirtyeth, and some economists feel that other seasonal factors make the report more volatile as well.

Still, an analyst said there were no unusual factors affecting the report and that it considers the impact of the holiday, and more economists concluded that what matters most is the downward trend.

This is still the best jobs report in the last two and a half years. Here's some key bullet points:

  • The number of Americans applying for unemployment benefits fell to its lowest point in nearly two and a half years, a sign that the job market is slowly improving.
  • Fewer than 425,000 people seeking unemployment benefits signals modest job growth.
  • Economists say applications need to fall consistently to 375,000 or below to bring down the unemployment rate.
  • Applications for unemployment benefits peaked during the recession at 651,000 in March 2009.

Associated Press article. CNN article.

Previous Lake Tahoe Real Estate Blog posts:

Dec 19, 2010: Is the US Economy Getting Better… a Good Day for South Lake Tahoe on the Recovery Path
Dec 5, 2010: More Insight into the US Labor Market: is Productivity a Culprit?
Dec 3, 2010: Today's US Unemployment Numbers
Dec 1, 2010: Even Better U.S. Job News
Nov 24, 2010: The Best Jobs Report in Two Years
May 6, 2010: More US Jobs Reports
Apr 28, 2010: US Jobs News, is it Hopeful?
Apr 2, 2010: A March Toward Job Growth
Dec 17, 2009: Jobless Claims, two different points of view

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This entry was posted on Friday, December 31st, 2010 at 12:14 pm and is filed under Buyers Report, For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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