Workers staying in place is a bad sign for housing
Unemployment and housing are inextricably linked. Essentially, those who are employed are more likely to buy homes, but that’s not the entire equation.
The Wall Street Journal points to another disturbing trend: workers staying in place. These individuals, who work but never move-up or find better positions, may also be less likely to make large-asset purchases. WSJ has more:
Friday was meant to be the day the Labor Department released its monthly snapshot of employment and unemployment. But though closely watched by investors and policy makers, the report was deemed insufficiently "essential" to escape the partial government shutdown that began last week.
Economists expected the report to show that the pace of hiring held roughly steady at 181,000 jobs in September, but no one will know for sure until the shutdown ends.