Weekly Earnings are Surging

December payrolls fell by 140k which surprised the "experts" who thought we would see gains of 50k in December. What the hell were they thinking? I honestly thought we could see job losses of over 1 million. Why? Many states like CO had totally shut down in-door dining, gyms, theaters, etc. So, I thought this number would be much worse. Here are the highlights-
The private sector shed 95k jobs and government cut 45k jobs.
Leisure and hospitality lost 498k jobs last month.
The household survey said 21k jobs were added and the unemployment rate remained steady at 6.7%.
The U6 unemployment rate dropped from 12% to 11.7% in December.
Average weekly earnings increased by 0.5% from November and weekly earnings are up by a large 6.3% year over year. This is a good sign for the real estate market is one reason why people can still afford homes even when prices are rising by over 10%. For example, let's say their income increased from $80k by 6.3%, this is an increase of $5,040 a year or $420 a month. That $420 a month at today's interest rate buy them an additional home buying power of $105k!!!