Unemployment rate tumbles; CFPB tinkers with QM mortgages

by. Henry Meier

I’ve been holding off on posting the blog this morning and I’m glad I did. The unemployment numbers just came out and the WSJ is reporting that:

“Americans gained jobs at the fastest pace in more than two years last month and the jobless rate plunged, a sign the economy has rebounded from a winter rut.

Nonfarm employment grew a seasonally adjusted 288,000 last month, the Labor Department said Friday. That marked the best month of job creation since January 2012 and the second-best month since the economy emerged from recession in mid-2009.”

In talking to credit unions this week all of them were hit hard by winter weather that literally put a freeze on lending as people stayed by their fireplaces and put off purchases like new cars. Hopefully these numbers indicate that the economy really is gaining steam and that employers are confident enough to start adding jobs. I’m still not convinced but time will tell.

Now back to my regularly scheduled blog….

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