Women now outnumber men in the workforce

An interesting tidbit emerged from last week’s jobs report from the Federal government: women now outnumber men in the workforce for the first time since the Great Recession.

Business Insider does a great job of breaking down the numbers, here. But we’ll give you the quick-and-dirty summary if you are too busy to click through.

The last time women outnumbered men was from June 2009 to April 2010. So what happened? Well, for one, it’s been well covered that the manufacturing sector of the United States is in dire straits. Traditionally, men work in these roles.

Also, gains in other sectors, mainly healthcare and education, push women past men in employment. This meant that, in December, women gained 139,000 jobs compared with the 6,000 that men obtained in the same period.

But don’t start celebrating just yet. U.S. women are far from reaching their full employment potential and actually still lag behind their European and Japanese counterparts. Ernie Tedeschi, a former Treasury Department economist, said in a tweet that a lack of benefits for working mothers might play a role.

“Employment of prime-age women in the US however, which once led the world, has fallen behind our peer countries,” Tedeschi said. “There are a lot of factors at work, but research has pointed to our relatively weak family-friendly policies in the US as a major one.”

Readers, what’s your opinion?





Housing predictions: Veros says one thing, Auction.com says another

Last week, Veros predicted that housing will appreciate through 2020 in all the major metro areas. However, Daren Blomquist, the VP of market economics at Auction.com, posted a differing LinkedIn post stating that one in four local real estate markets are expected to experience a home price decline in 2020.

The difference between the two reports is staggering and underpins the necessity to look at several forms of data when examining any single issue comprehensively.  

Why? Because Blomquist uses that data to ask if there is a looming real estate correction without a recession. The post is interesting as it brings in HELOCs and nonperforming loans to point to a market correction and Blomquist is great at drawing casualty between all of the elements. But is there something missing from the report? Let’s take a look.

“Slowing home price appreciation in most local markets means less air is being pumped into the home equity cushion that homeowners often fall back on in the event of a loan default,” he writes.

It’s hard to make a data projection on the basis of perceived behaviors, whether you agree with him or not. From a lending perspective, a homeowner would already need to have a HELOC before their default event, for this argument to work, and even predicted their own default and therefore decided to open a HELOC.

That may be a stretch. But still, hats off to Daren, who always posts content that gets you thinking. And by the way, we aren’t alone in raising our eyebrows at the post. Some of his audience also applied constructive criticism to the piece.  As one commentator opined: “Statistically speaking, you are simply describing the housing market 98% of the time.” Hmm.

American Pacific Mortgage names new Chief Compliance Officer

With state regulators looking to strengthen their enforcement powers (please see last two issues of Up NEXT), the role of Chief Compliance Officer is more important than ever. 

On his personal LinkedIn page, Bill Lowman, the CEO of American Pacific Mortgage Corp said the lender promoted one of its own into the CCO position.

“I am thrilled to announce that we have appointed Marty Allred as the Chief Compliance Officer for American Pacific Mortgage effective January 1, 2020. Marty and I joined APM within a few weeks of each other 18 years ago, and what a ride it has been! Marty has been highly successful in her tenure at APM, most recently serving as VP of Compliance.”

“As Chief Compliance Officer for APM, Marty will be responsible for overseeing and managing all aspects of the mortgage lending compliance nationwide,” Lowman added. “Marty will also serve on APM’s Leadership Team. Gloria Fillmon, who has been instrumental in mentoring Marty, will continue to serve as APM’s Chief Risk Officer.” Fillmon previously served as the company’s COO.

Congratulations, Marty!

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