Aside from 16-year low unemployment, monthly jobs data indicate weak labor conditions — driving down rates. But staffing expanded in the mortgage industry.

Data reported Friday by the Census Bureau indicate that the U.S. unemployment rate was 4.3 percent in May — the lowest it’s been since May 2001.

Unemployment stood at 4.4 percent as of one month previous, according to the BLS, while it came in at 4.7 percent as of the same month last year.

Source: Mortgage Daily