This morning’s Non-Farm Payrolls report (i.e. the number of new jobs created for industries other than farming) registered a 167,000 gain in November This is tremendously higher than the 115,000 jobs economists had predicted.
Markets were caught leaning in the wrong direction after an ADP report released Wednesday said that 40,000 jobs were likely lost in November.
It’s chaos in the markets right now and mortgage rates are surging higher, completely erasing yesterday’s gain.
