About Jon Iacono
Jon Iacono brings his 21+ years of experience in the industry to Advisors Mortgage Group. Jon was born in Brooklyn, NY but has lived the majority of his life in Monmouth County, NJ. As a graduate of Monmouth University with a concentration in Management and Computer Science, Jon brings his training and education to Advisors Mortgage to help grow and manage the recruiting team.
Jon worked alongside many mortgage and real estate industry professionals previously with Mortgage Intelligence companies such as, Mortgage Market Guide, Loan Tool Box, Certified, Scripts for Success, CMPS, MBS Highway, Turning Point CRM and more. Jon gives back to his community and has been an active volunteer firefighter for the Colts Neck 84 -1 station since 2004. He enjoys staying active by playing golf, lifting weights, boxing, training Jiu Jitsu and most importantly spending time with his two kids Lily and Jonny Jr.
Weak Labor Market overshadowed by Rising Oil Prices
March 9, 2026
Recent employment reports show signs that the labor market is weakening.
The Challenger, Gray & Christmas Job Cut Report showed nearly 50,000 job cuts in February. While that was lower than January, the drop was expected since layoffs are usually higher right after the holidays. In fact, this past January had the most layoffs for that month since 2009.
Revelio Labs also reported about 17,000 job losses in February. Most cuts came from retail and leisure/hospitality, while healthcare added about 16,000 jobs. Overall, 53% of industries lost jobs, showing that the weakness was fairly widespread.
The Bureau of Labor Statistics reported an even bigger decline, showing 92,000 jobs lost in February—much worse than the expected 59,000.
Another part of the report, the Household Survey, showed 185,000 jobs were lost while the labor force grew slightly. As a result, the unemployment rate rose from 4.3% to 4.4%, a little higher than expected.
Normally, signs of a weaker labor market help the bond market and lead to lower interest rates. However, rising oil prices—now close to $90 per barrel—are pushing rates higher instead. If oil prices settle down, bonds could improve again, and mortgage rates may start to fall.
Source: MBS Highway
