Palm City Equestrian Properties: PALM CITYS HORSE TALK: STUART WEST LOTS FEATURED PROPERTIES FOR SALE: PALM CITY, FL::: OUR WEEKS ECONOMY

Palm City, Florida, Stuart West lots are featured this week. Along with our economic news, spread the word about this beautiful equestrian gated community. I have lots pending but these are large, beautiful and private. They are located near easy access to major travel and 15 minutes from the Atlantic Ocean.
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MY NEWSLETTER: OUR WEEK IN REVIEW:
OVERVIEW ~ August 30 through September 3 ~ The Dow Jones Industrial Average (DJIA) began August 30th at 10150.65 and ended Friday (Sept 3) at 10447.93. This last number is notable because it is 1.24% higher than Thursday’s close, rising strongly in the face of the weak employment report. Perhaps what we saw was a “relief rally” in which the employment indicator was gratifying precisely because it wasn’t as bad as some had feared it might be. Also significant, though, is the fact that the stock market once again showed a resilience that was apparently unexpected by many analysts. Note as well that the average Freddie Mac 30-year mortgage rate fell four basis points this week to 4.36%, while the HSH Associates averaging of mortgage rates (including jumbos) dropped 2 basis points to 4.78%.

FOCUS ~ Employment report: If you take the 67,000 new jobs added by the private sector in August and subtract those Americans who lost their jobs (primarily census workers), the resulting figure is a 54,000 net loss of jobs. This is a tepid showing, but the great news is how well the stock markets reacted, suggesting a greater willingness among investors than expected to see the brighter side of this report.

Our unemployment rate, based on the separate phone survey of private households, rose from 9.5% to 9.6%. This could mean that more workers were optimistic enough about the economy to have begun seeking jobs again (since the tally does not include workers who have given up and are not seeking work.)

Further, the new jobs in August were created in a broad range of sectors: health care, construction, mining, and temporary help services for professional and business services. And many economists see an increase in the number of temporary help service jobs as a possible harbinger of more employment in the future.

Also, hourly earnings by American workers were up 0.3% and wages rose 1.7%, both over July levels. Higher wages suggest a possible need for more employees. But we are also watching for a higher number of hours worked per employee to confirm this, and we didn’t get that in August.

All told, though it’s a rather mild employment report, it’s far better than most economists expected it to be. Indeed, most analysts were very ready to conclude that the positive elements in this report make a double-dip recession much more unlikely. And investors were pleased, as was made clear by the rising values in American stock markets