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U.S. Posts Its 20th Straight Month Of Job Growth

June 5, 2012 by Bob Elliot Leave a Comment

Non-Farm Payrolls 2010-2012For the second straight year, the jobs market looks to be slowing into the summer.

Last Friday, in its monthly Non-Farm Payrolls report for May 2012, the Bureau of Labor Statistics reported 69,000 net new jobs created, plus a one-tick rise in the national Unemployment Rate to 8.2%.

2012 is shaping up like 2011, it appears.

Last year, between May and August, the jobs market was decidedly worse as compared to the rest of the year, adding just 80,000 jobs on average per month as compared to 190,000 new jobs created on average during each of the other 8 months.

This year, a similar slowdown may be in store.

Although the May jobs report marks the 20th consecutive month during which the U.S. economy added new jobs, the reported figure fell well short of analyst expectations, which called for 150,000 net new jobs last month.

In addition, it was found that the previously-reported tallies for new jobs created in March and April were overstated by a total of forty-seven thousand jobs. This lowered the overall net new jobs created last month to 22,000.

Mortgage rates in Minneapolis are falling on the news.

Since the jobs report’s release, 30-year fixed rate mortgage rates have dropped below Freddie Mac’s reported 3.75% mortgage rate for borrowers willing to pay 0.7 discount points plus closing costs; and, the 15-year fixed rate mortgage has dropped farther below 3.00%.

The weaker-than-expected data has moved Wall Street investors away from stock markets in favor of the relative safety of bond markets, a market which includes the one for mortgage-backed bonds. When mortgage-backed bonds are in demand like this, it helps to push down mortgage rates nationwide.

That’s exactly what we’re seeing.

Mortgage rates are expected to make new lows this week, in part, because of U.S. employment weakness. Should this year’s jobs market rebound like in 2011, though, look for mortgage rates to climb back shortly.

Filed Under: The Economy Tagged With: Job Growth, Non-Farm Payrolls, Unemployment Rate

How To Keep Your Home House Fly Free

June 4, 2012 by Bob Elliot Leave a Comment

Keep your home house-fly freeAs the calendar turns to June and the temperatures start to rise in Minnesota and nationwide, we begin to spot more bugs, insects and pests as compared to during the winter.

Hiring an exterminator is one way to limit the number of ground-based bugs in your home. For example, periodic treatments can help to keep ants, beetles and termites at bay.

For airborne pests, however, prevention can be more difficult.

House flies can be especially nagging. They often enter through open doors and windows, then buzz through kitchen and bedrooms, spreading germs and general annoyance.

If your home is battling house flies, the good news is that there are a number of chemical-free, environmentally-friendly ways to reduce or eliminate house flies; solutions that are safe for homes with children and pets.

First, make sure your screen doors and screened-in windows are all in working order. Tears, rips and holes should be repaired or replaced. This is often a house fly’s easiest point of entry into your home.

Next, remember that house flies are attracted to surfaces with sugar or protein. Therefore, it’s important to keep kitchen surfaces and non-carpeted floors clean because these are probable “hot spots” for a house fly. Clean once or multiple times per day, and try to use products containing orange, clove or lemon oil. These oils often repel flies.

Then, examine all trash cans. Lids should remain tightly closed and garbage bags should be changed frequently. Garbage is a breeding ground for house flies and, because flies can hatch from eggs in a matter of hours, the sooner your garbage is sealed and moved to a garage or outdoor dumpster, the better.

Lastly, consider placing 2-3 dozen cloves into an apple and leaving it in a room in which flies are bothersome. The smell of the cloves repels flies and, although it won’t prevent flies from returning, the method is helpful for temporary fly relief.

Filed Under: Around The Home Tagged With: Environmentally-Friendly, House Fly, Pest Control

Insurance Policies : Which Do You Need, Which Should You Skip?

June 1, 2012 by Bob Elliot Leave a Comment

Insurance is protection against unexpected expenses and insurance policies are available for nearly any scenario you can envision — even your own ransom. But just because an insurance policy is available, that doesn’t mean you should buy it.

Some insurance policies give you good bang for the buck. Others are plain wasteful.

In this 3-minute segment from NBC’s The Today Show, you’ll hear of several common insurance policies and their relative merits to people of Minnesota who purchase them.

For example, Americans will spend an estimated $450 million on pet insurance this year. Because of the policies’ restrictions and deductibles, though, it’s an insurance policy that rarely pays off. This is one reason why financial experts often recommend that you pass on purchasing pet insurance.

Within the segment, other reviewed insurance policies include :

  • Mobile phone insurance
  • Flight and travel insurance
  • Extended warranties for electronics
  • Umbrella policies
  • Renters insurance

There’s also discussion about home warranties, and why you should avoid policies that last longer than one year.

Insurance should be an important part of your overall financial plan. However, the key is to have the proper policies in place, with an appropriate amount of coverage. Review your policies annually and keep your coverage current.

Filed Under: Personal Finance Tagged With: Insurance, NBC, The Today Show

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