The much anticipated jobs numbers were released today with the headline unemployment rate rising slightly from 6.1 to 6.2 percent with the increase attributed to more people getting back into the work force. While that may at first glance seem slightly positive another nugget from the data saw the laborrates to remain low for real estate investors participation rate stall at 68.2 percent, the lowest level since 1978 when Jimmy Carter was president.

Looking at the participation rate from the other direction, 31.8 percent of eligible citizens who can work have decided to opt out completely. The participation rate has held at 62.8 since April.

The number of new jobs created was again above 200,000 at 206,000 but most economists had predicted something stronger and a few more were waiting for a more robust count, something closer to or just above 300,000, given the strong GDP number for 2Q and other positive factors.

Yet the unemployment report and non-farm payroll numbers weren’t strong enough to convince investors the Fed will begin to raise interest rates sooner rather than waiting until after the first of the year and beyond. In an article you read here yesterday, in light of consistent economic growth, some feared the idea of raising the Fed Funds rate might spread to other members of the FOMC. Yet today’s unemployment numbers acknowledge tepid growth which should keep the Fed in its current stance.

The Dow was down again today albeit slightly so but the S&P 500 experienced its worst weekly fall in more than two years. Real estate investors are still enjoying cheap financing costs and are cash flowing well in most markets and mortgage rates for investors should still remain in their current range for the next several weeks as global unrest is keeping a lid on any reaction to the QEIII demise.