U.S. Companies Added 263,000 Workers In March … The Most Since 2014 … That Really Escalated Quickly

U.S. companies added 263,000 workers in March, the most since December 2014, suggesting further tightening of the labor market, payrolls processor ADP said on Wednesday. Strong job gains in the coming months will likely add upward pressure on wages, supporting the Federal Reserve’s view for at least two more interest rate increases by the end of 2017. “The labor market is tight and it will get tighter,” said Mark Zandi, chief economist at Moody’s Analytics which jointly developed the ADP National Employment Report.

That escalated quickly. Better and higher paying jobs are coming. That is going to hurt the low-fee mortgage segment. Where in the world will they find field inspectors who will perform $3 mortgage inspections and pay $1,265 upfront for a background check and expensive E&O insurance. The Mortgage Order Mills (MOMs) are hurting for workers. The mortgage segment is like a huge Florida sink hole where there is no bottom.

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