Follow me on Google+
Mortgage and Refinance Broker, Queens NY

Instant Call

Need help? Call (718) 943-9200

Contact Us | Apply

Amerimutual Mortgage Phone Operator
  • Home
  • About
    • About Us
    • Upfront Mortgage Broker
    • Better Business Bureau
  • Purchase
    • Purchase
    • Paperwork Needed
    • How Much Can I Afford?
    • What Will My Monthly Payment Be?
    • Quick Quote
    • Apply Now
  • Refinance
    • Refinance
    • Cash Out Refinance
    • Refinance Analysis
    • Quick Refi Quote
    • Apply for Refi Now
  • Loan Options
    • Fixed Rate Mortgage
    • Adjustable Rate Mortgage
    • Pick A Term
    • FHA Loans
    • VA Loans
    • FHA VA Streamline Refinance
  • Commercial
    • Commercial Real Estate Loans
    • Apply Now
    • Contact Us
  • Calculators
    • How Much Can I Afford?
    • How Much Will My Monthly Payment Be?
    • Renting versus Buying Calculator
    • Refinance Analysis Calculator
    • Mortgage Consolidation Calculator
    • Paperwork Needed
    • The Loan Process
    • Glossary of Mortgage Terms
  • Mortgage News
  • Testimonials
  • Contact Us

The Employment Situation

January 10, 2017.

We just saw the last unemployment report of 2016. The December numbers came in at 156,000 jobs added for the month, which was a bit lower than expected–but the previous two months were revised upward by almost 20,000. The unemployment rate came in at 4.7%, as expected. Wage growth came in higher than expectations. With the year ending and a changeover in Presidents, it also gives us the chance to see how this important economic indicator is doing, not only for the past year, but for the past several years as well.

For all of 2016, the economy gained just over 2 million jobs. This is an impressive number, but it was down from 2.7 million jobs added the year before and 3.1 million jobs added in 2014. In addition, the unemployment rate started 2015 at 5.0% and ended the year at 4.7%. Finally, the labor participation rate started the year at 62.6% and ended the year at 62.7%, virtually flat for the year. It was over 66.0% before the recession hit. Looking back eight years, at the end of 2008, the unemployment rate was 7.3% and reached 10.0% during the first year of the Presidency, when the country was mired in recession.

Overall, the economy lost 8.7 million jobs during the recession, which bridged two administrations. Since the end of the recession, we have averaged a net gain in jobs of 190,000 per month, or just under 2.3 million per year. This means we have recovered the jobs lost during the recession and more, but if you average the job gains over 10 years, to include the first stages of the recession, the annual average job gains have totaled much less. In conclusion, we have made up much ground, especially when looking at the unemployment rate. However, there is more work to be done with regards to adding more jobs and increasing the labor participation rate.

Source: Origination Pro

  • ← Previous
  • Next →
Apply Online Start funding your loan Rate Watch Track & Review Rates Quick Quote 30 Second Form

Testimonials

Eli N

Benny and Phil were great to work with! they assisted us in every aspect of the process even when it wasn’t their job. They explained every step and guided/advised us on the best course of action. Their fees were more than fair and their integrity was at a level far above ANY lawyer or mortgage broker we have ever dealt with.

Joe D.

Philip Loria made the mortgage process quick and easy, and also found ways to save us money. He was always on top of things, very accessible, and his communication is top notch. I will recommend Philip Loria and Amerimutual Mortgage highly to any of my friends, family or colleagues.

Joe D. Long Island, NY
Ninfa Brusca

Philip and Benny Loria were very knowledgeable and professional. They exceeded all our expectations and were a pleasure to work with. They were both were just genuinely nice guys. They listened to all our concerns and did everything in their power to accommodate our needs and make feel comfortable throughout the whole mortgage process. I recommend Amerimutual Mortgage to anyone who is looking for a mortgage.

Ninfa Brusca Tuckahoe, NY
Lenny P., Occupation: Real Estate Development

Richard, I wanted to thank you for all your help and hard work. I am so glad our refinance was a success. You were very diligent and dedicated to getting me the best rate possible. I truly enjoyed working with you and will recommend your services to all our friends and family.

Lenny P., Rye, New York
Nick Tsatsaronis

Philip Loria, assisted me with my refinance. Thank you so much for all of your time and hard work. You made refinancing my house easy and stress free. I wouldn’t recommend anyone else. I will definitely use Amerimutual Mortgage for any future needs, and recommend them to anyone who needs a mortgage.

Nick Tsatsaronis Flushing, NY
    • Home
    • Privacy Policy
    • Terms of Use
    • Glossary of Terms
    • FAQs

    Copyright © 2025 Mortgage and Refinance Broker, Queens NY. All rights reserved.
    NY MUTUAL LLC DBA AMERIMUTUAL MORTGAGE | 18-33 41st Street, 2nd Floor, Astoria, NY 11105 | NMLS # 148477. Registered Mortgage Broker-NYS Department of Financial Services - All mortgage loans arranged with third party providers.

    Amerimutual Mortgage is BBB Accredited Business since 1/11/2012 Amerimutual Mortgage is Upfront Mortgage Brokers Amerimutual Mortgage is member of New York Association of Mortgage Brokers Amerimutual Mortgage Equal Housing Opportunity Amerimutual Mortgage is secured website


    SEO Optimized website Designed & Built by iVideoWeb.