Labor Pains and Gains; Microsoft is Nook’d Out; Merry Mortgage Rates

We can work it out…

Image courtesy of Danilo Rizzuti/FreeDigitalPhotos.net

Image courtesy of Danilo Rizzuti/FreeDigitalPhotos.net

Thanksgiving might be over, but there is yet more for which to be thankful: The number of people filing for unemployment benefits dropped once again to under 300,000. The week prior,  the Labor Department reported, much to our collective chagrin, that 314,000 people applied for jobless claims. So you see now, employers really are graciously hanging onto their workforce and the job market is not “cooling” as last week’s numbers rudely suggested. But time for the downer: 2.36 million people are getting jobless benefits. However, unemployment is expected to stay at its annoying 5.8% perch – which is not totally awful since its the lowest since July of 2008.  In fact, the 4 week average for claims being filed even plunked down 9% during the year. If that doesn’t make you merry, well then, that’s your problem. Then there’s that cheery little fact that 229,000 jobs were added, on average, per month over the last year. Still not jumping out of your seat? Well you should because last year that number was a ghastly 194,000. ADP even graciously reported that 208,000 jobs were added just this past November.

Thanks for the virtual memories…

Image courtesy of cuteimage/FreeDigitalPhotos.net

Image courtesy of cuteimage/FreeDigitalPhotos.net

Barnes & Noble and Microsoft can officially change their Facebook status to “no longer in a relationship” ending a two and a half year partnership that saw mostly loss. Microsoft initially plunked $300 million into the relationship involving the once highly-touted Nook, and oh the hopes – such high hopes that with Microsoft’s tech prowess, the Nook would emerge as a formidable force in the tablet wars. But it was not to be as Microsoft did not do what others had hoped for and even went on to introduce its own tablet – The Surface. Combined with the sensation we call the “iPad” and, of course,  the Kindle Fire, the forlorn Nook was left in the digital dust.  This quarter saw revenues drop to $64 million, a staggering 41% decrease over last year, with sales down 60% for the year. Now it is up to Samsung, to help repair those shattered hopes and dreams for Barnes & Noble, as the bookseller writes out a $62 million check to buy back its stake from Microsoft.

Rated: Awesome

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

Image courtesy of Stuart Miles/FreeDigitalPhotos.net

If you’re thinking now would be a good time to buy a new house, my virtual friend, you just might be right as 15 and 30 year mortgage rates have fallen yet again. In fact,  those rates are at their lowest in a year and a half. This week you could get yourself a sweet deal on a 30 year at a rate of 3.89%. Last week that rate was hovering at 3.97%.  Looking to score a 15 year? How does 3.1% sound? I’ll tell you how it sounds – better than last week’s 3.17%. These rates, by the way, are coming just in time as home values are creeping up on us. October saw a 6% rise in values. Good news for sellers, anyways. Not so much for buyers.

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One response to “Labor Pains and Gains; Microsoft is Nook’d Out; Merry Mortgage Rates

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