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March 19, 2007

All Business: Mortgage gloom lifted by healthy job outlook

  • The job market is in good shape and people with jobs are less likely to miss or default on their loans.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — The employment outlook isn't generating nearly as many headlines as the subprime mortgage mess, but maybe it should. That's because the job market is in pretty good shape, offering support to the economy when other factors are surely weighing on growth.

    It's easy to see why the implosion in mortgages to people with weak credit has panicked stock investors. Their biggest fear is that the subprime blowup could hit the broader economy hard, potentially leading to a recession.


     
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