The U.S. economy scored its third straight month of more than 200,000 jobs created with 227,000 in February as measured by the Non Farm Payroll data. It is widely believed by economists that the economy needs to add at least 150,000 jobs each month in order to continue our growth out of the last recession.
The Unemployment Rate was unchanged at 8.3% from the prior month, however that rate is based upon a phone survey and economists put much greater value and weight on the Non Farm Payroll data which is based upon real data and statistics.
This three month positive trend in job creation is very important for housing as this trend comes at the perfect time before the busy home buying season. Obviously, consumers that feel better about their job security or have recently returned to work will help to bolster demand for housing.
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