Danny Salas

Archive for December 2nd, 2009

Chico, CA Interest Rates Market Report – Economic Influences – December 3, 2009

We Twittered On November 30, to Lock

Employment Looking Better

Unemployment Claims came in at 457,000 as opposed to the 480,000 that was expected.  This is the lowest reading in 14 months!  We really need to see new claims below 400,000 before we get excited about the labor market even coming close to correcting itself.  Keep in mind, that with the Tax Credit Extension, unemployment benefits were extended, as well, for those who had previously lost their ability to continue their claims. So, expect this number to be difficult to reach the below 400,000 level for some time.

Ben Bernanke Up for Re-Election

President Obama recommended Ben Bernanke for another four year term, as our Fed President, back in August.  He’ll probably get voted back in, however, what will really be interesting is if the government wants to take over the Federal Reserve.

Obama’s Job Forum

The White house is hosting a job forum of CEO’s, economists, and other leaders to determine what can be done to help the job market.  And Speaking of Jobs, the White House Commented that they think that tomorrow’s Jobs Report and Unemployment Numbers will see a slight increase.  Economists are expected a loss of 125,000 jobs.  I think it might come in a little better than that, and as far as the unemployment rate goes…even if it’s worse, I don’t think we’ll see the interest rate lows that we’ve enjoyed this past month.  I think we take advantage of what’s available and lock in before tomorrow’s Jobs Numbers.

Related Must Reads

House Passes Tax Extension
Jobless Claims…Obama Signs Unemployment Benefits Extension
Dubai’s False Troubles Was Still A Signal To Lock

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