Today's strong jobs report could effect future interest rate cuts.  U.S. employment rebounded last month on robust public education and other service-sector hiring, and the biggest surprise was taht August's decline was revised to a gain, signaling resilience in the labor market and reining in hopes for further aggressive easing by the Federal Reserve. Nonfarm payrolls rose 110,000 in September, and August was revised to an 89,000 rise from a previous estimate of a 4,000 decline. The unemployment rate rose 0.1 percentage point in September to 4.7%.

It will be interesting to see what the FED does at their meeting later this month.  The chance of the FED cutting by .25 basis points is now 50/50.  For the Orange County real estate market it would be very helpful if the FED does cut by .25 at the end of October.

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