Freddie Mac: The “juice” that will fuel the economic recovery is housing, or more specifically, new home sales, Freddie Mac stated in its economic and housing market outlook report for May.
Although the unemployment rate has been decreasing, falling to 6.5 percent in April, the GSE explained the reduction is due to a decline in the labor force participation rate, not an increase in employment.
According to Freddie Mac, the labor force participation rate, which remained at 63 percent in April, was at the lowest level since 1980.
However, as the building of new homes adds to the availability of jobs, the unemployment rate should inch down. Read more ...
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