The November Jobs report will be released tomorrow morning. The BLS Jobs Report estimates 180,000 jobs added year-over-year, with the unemployment rate expected to remain at 3.9%, and average hourly earnings to decline from 4.1% to 4%.

What this means is continued data pointing towards a soft recession or the absence of one.

Jobless Claims, which measure individuals filing for unemployment benefits, rose by 1,000 to 220,000. While not a significant increase, it’s noteworthy. Continued Claims, indicating those who continue to receive benefits, fell by 64,000 to 1.861 million.

This suggests a weakening labor market, providing another data point for the Fed’s consideration.

The CoreLogic Home Equity Report in Q3 shows a 6.8% year-over-year increase. This is attributed to amortization (mortgage payments over time) and appreciation, with the average Loan-to-Value (LTV) ratio at 42%. It means you have 58% equity in the house.

It’s worth noting that during the Bubble years, the average LTV was 81% or 19% equity.

What this means is get off the couch and buy a house….

Anticipate significant data in tomorrow’s Jobs report. Hang on and have a great rest of your week.