Presented by Nicholas Wealth Management
Unemployment at a 2-Year High
While the stock markets are mostly rallying, the labor market appears to be cooling down. According to the latest findings from the Labor Department, the U.S. jobless rate reached a two-year high in February after an unexpected climb from 3.7% to 3.9%.
On Wednesday, the Labor Department announced that job openings had fallen in January to their lowest levels in three months. Despite the fall in openings, however, hiring remains strong. Employers added 275,000 jobs in February, 75,000 more than what had been predicted. Meanwhile, hourly earnings rose 0.1% in February compared to 0.5% in January — a positive sign for inflation.
The decrease in job openings could also be a result of fewer workers leaving their jobs. While the pandemic marked an era of record high numbers of workers seeking out greener pastures with other employers, the Labor Department reports that the rate of workers voluntarily leaving jobs fell to its lowest level since August 2020.
Coming this week
- Is inflation going down? That question will be answered this week, as we get the latest Consumer Price Index (CPI) numbers on Monday and Producer Price Index (PPI) numbers on Thursday.
- We’ll also get a look at how consumers are feeling with the NFIB optimism index (Tuesday) and consumer sentiment (Friday).
- Other data this week includes retail sales and business inventories (Thursday) plus the latest manufacturing survey and inventory prices (Friday).
Sources:
https://www.morningstar.com
https://www.cnbc.com
https://www.marketwatch.com
https://markets.businessinsider.com
https://ycharts.comAccessed 03/08/2024
AE Wealth Management, LLC (“AEWM”) is an SEC Registered Investment Adviser (RIA) located in Topeka, Kansas. Registration does not denote any level of skill or qualification. The advisory firm providing you this report is an independent financial services firm and is not an affiliate company of AE Wealth Management, LLC. AEWM works with a variety of independent advisors. Some of the advisors are Investment Adviser Representatives (IAR) who provide investment advisory services through AEWM. Some of the advisors are Registered Investment Advisers providing investment advisory services that incorporate some of the products available through AEWM.
Information regarding the RIA offering the investment advisory services can be found at https://brokercheck.finra.org/
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
The information and opinions contained herein, provided by third parties, have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by AE Wealth Management.
This information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. None of the information contained herein shall constitute an offer to sell or solicit any offer to buy a security or insurance product.
3/24-3425868-2
Ready to Take The Next Step?
For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.
