424,000 Full-Time Jobs JUST Disappeared

The April Jobs Report shocked Wall Street by adding 115,000 jobs, nearly double expectations. But underneath the headline, the labor market may be much weaker than it appears. The Household Survey showed 226,000 jobs lost, 424,000 full-time jobs disappeared, and the U-6 unemployment rate climbed to 8.2%. Markets are reacting positively today, but much of that optimism may actually be tied to hopes for a resolution in the Iran conflict and lower oil prices, which could eventually help mortgage rates improve. Russell McDonald | NMLS 290837 | Broker CA DRE 01150730 Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628 Real Estate Broker - CA Dept of Real Estate #MortgageTips #JobsReport #Economy #MortgageRates #FederalReserve