It’s the lowest unemployment rate in about 17 years (see graphic, below).
The importance for factory built housing of these facts will be explained further below.
While that hiring reported is fewer than the 300,000 plus that some expected, it was far above September’s (+18,000), when the impact of storms caused disruptions in the workplaces, and thus in employment.
“Employment in food services and drinking places increased sharply, mostly offsetting a decline in September that largely reflected the impact of Hurricanes Irma and Harvey,” the BLS said.
In October, job gains also occurred in professional and business services, manufacturing, and healthcare.
“Since January, the unemployment rate has declined by 0.7 percentage point, and the number of unemployed persons has decreased by 1.1 million,” per the BLS. (See table A-1.)
Unemployment is Declining
Talking Heads…
To sum up the points from the experts on the panel this morning, the report reflects mixed signals, and there are several reasons why the tax package is necessary in order to spur more growth.
Consumer sentiment is the highest since 2004. There is economic momentum. Job optimism is at its highest since 2001. Finding skilled workers is still a challenge.
Joanie Courtney, Employbridge Professional Services stated that more companies believe they will have to higher trainers in order to help boost the skills of the available workers. But that too is a reflection that companies are now willing to invest in workforce development, as opposed to off-shoring jobs, etc.
Note, if you watch this roughly five-minute Fox Business video, the initial graphic shown on wages was incorrect; they later correct it to reflect what is shown in the still above.
To see the above graphic full size, as a download, click here.
What Does It Mean for Manufactured Housing?
As has been previously noted, publicly traded manufactured home companies often point to improving employment data as signs that opportunities for more sales exist too.
The same point can be made about earnings.
Wages have been rising this year, and while many in the mainstream media haven’t connected that to policies being implemented by the Trump Administration, the law of supply and demand applies.
Regardless of which party or persons administer given polices, when:
economic incentives are created, and disincentives are removed, more investment, job growth, and wage growth will naturally follow.
Shipment Sneak Preview…
Manufactured home shipment data will likely be published on Monday. The early snapshot? At the current pace, manufactured home shipments for 2017 could come in at several thousand less than 100,000 new homes. That’s an improvement, but still not the industry’s potential.
Billionaires and big business are investing in manufactured housing. Why? The video above sheds light in just 128 seconds.
There’s progress, but more is possible. © ## (News, analysis, commentary.)
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