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Encouraging jobs numbers good sign for housing

December 3, 2010 - More Americans may soon regain the confidence they need to pack their moving boxes in the near future.

Data from ADP Employment Services showed that the nation's private employers added 93,000 new jobs during October, following up a 82,000 gain the previous month. It was the largest single-month gain for private employment in three years, and it was the tenth consecutive month with increasing jobs figures, said the report. Ultimately, the findings were an encouraging sign that more Americans were finding work and the financial stability to consider moving into new homes in the near future.

The company added that the rise will not likely affect the nation's unemployment rate, which current sits at 9.6 percent and is projected to remain above 9 percent through 2011, said ADP.

"There is just a feeling that we have turned a corner," Joel Prakken, chairman of Macroeconomic Advisers, told CNN Money. "It seems to me that we have left behind the recessionary declines of employment. We have passed through a phase where employment was flat."

Rising consumer sentiment might also foreshadow increased relocation in the coming months. The Thomson Reuters/University of Michigan's consumer sentiment index rose to 71.6 in October - a five-month high.
 

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