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Here's what today's job creation implosion means for housing and mortgage finance

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Lending / The Ticker

Private companies added 215,000 jobs in November

Highest amount reached in a year

hiring sign

According to the LA Times, the private-sector labor market drastically increased in November as companies added 215,000 jobs to their payrolls, the most in a year.

The paper wrote the following:

Job growth for October also was revised up significantly to 184,000, from ADP's initial report of a disappointing 130,000, indicating that companies' ability to weather the partial federal government shutdown and the political battle over raising the debt limit that month was better than expected.

"The job market remained surprisingly resilient to the government shutdown and brinkmanship over the Treasury debt limit," said Mark Zandi, chief economist of Moody’s Analytics, which assists ADP in its monthly report.

"Employers across all industries and company sizes looked through the political battle in Washington," he said. "If anything, job growth appears to be picking up.”

Source: LA Times
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