Business & Investment

Weekly Economic Update Ending March 6, 2021

US employers added 379,000 jobs in February-Ministry of Labor and Statics reported 379,000 net new jobs Added in January. This is a healthy recovery from January, when the economy gained only 49,000 jobs. This figure also surprised analysts who expected 210,000 new jobs due to the rapid decline in COVID cases that allowed more economies to resume. Most of the profits came from the hospitality and leisure sector, where 355,000 jobs increased as employers rehired workers on reopening. Of the 355,000 hospitality and leisure workers, 286,000 work in bars and restaurants, 36,000 in hotels and 33,000 in gambling and recreation businesses. Despite the benefits, the number of workers in the hospitality and leisure sector is 3.5 million less than before the pandemic.The· Unemployment rate January 6.2%, It decreased from 6.3% in January.

Stock Market of the Week:

  • The Dow Jones Industrial Average ended the week at 31,496.30, up 1.8%. Last week 30,932.37. It has increased by 2.9% since the beginning of the year.
  • The S & P 500 ended the week at 3,841.94, up 0.8%. From 3,811.15 last week. It has increased by 2.4% since the beginning of the year.
  • NASDAQ closed the week with 12,920.15, down 2.1% From 13,192.35 last week. It has increased by 0.3% since the beginning of the year.

Treasury Yield 10-year Treasuries closed the week, rising 1.56%. From 1.44% last week. The 30-year Treasury yield ended the week at 2.28%. From 2.17% last week. Mortgage yields often follow government bond yields, so monitor bond yields.

Mortgage Interest Rate-March 4, 2021 Freddie Mac Primary Mortgage Survey We reported the mortgage rates for the most popular loan products:

  • The 30-year fixed mortgage rate was 3.02%. Last week it was 2.97%.
  • The fixed interest rate for 15 years was 2.34%. 2.34% last week.
  • 5-year ARM decreased by 2.73% From 2.99% last week.

Have a nice weekend!

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Weekly Economic Update Ending March 6, 2021

https:///blog/2021/03/06/18704-economic-update-for-week-ending-march-6-2021 Weekly Economic Update Ending March 6, 2021

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