HousingWire Daily Logan Mohtashami on the labor market for 2025
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Mar 10, 2025 
Logan Mohtashami, a lead analyst with deep insights into job markets, discusses the implications of the latest jobs report for 2025. He dives into key indicators like employment trends and unemployment forecasts, linking them to the broader economic landscape and mortgage rates. The conversation also tackles how demographic shifts impact labor force growth and housing affordability. Mohtashami further analyzes the effects of federal policies on home purchasing and highlights the contrast in housing dynamics across popular states.
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Jobs Report Summary
- The jobs report slightly missed estimates, with negative revisions and flat residential construction worker numbers.
- Government jobs grew, but an uptick in the unemployment rate is concerning, especially before the full impact of the fiscal drain.
Fed Prioritizes Labor
- The Fed prioritizes labor market health over inflation, as evidenced by their 2024 actions.
- They cut rates when the labor market softened, demonstrating their focus on labor conditions.
Key Labor Market Indicators
- The Fed tracks job openings, quits, hires, and wage growth as key labor market indicators.
- They also consider the unemployment rate and labor force data, particularly concerning the impact of immigration.