It’s Wall Street’s monthly ritual – another first Friday and another job’s report. So, let’s dig in and offer some perspective.
Nonfarm payrolls rose a strong 224,000 in June. The unemployment rate inched up from 3.6% in May to 3.7% in June because more people started looking for jobs than landed jobs (U.S. BLS).
The monthly numbers get plenty of attention, maybe too much attention. Asking whether the U.S. economy is generating new jobs is an important question. But, monthly data can be lumpy, which whipsaws sentiment.
Please be advised that our office will be closed in observance of Indepdendence Day tomorrow, July 4th. We will we back on Friday the 5th, but it is possible that we will have reduced office hours, as well. We wish all of our clients a happy and safe 4th of July!
On July 4th, we celebrate the 243rd anniversary of the signing of the Declaration of Independence. In its honor, here are 8 fun facts about one of the nation’s most treasured documents:
It’s summertime and we’re heading into the second half of the year. Time really does fly!
But it’s a milestone for the economy. The economic expansion that began in July 2009 is 10 years old. It’s run exactly 120 months, tying the longest expansion on record (NBER). Barring an unforeseen economic shock, a new record is within reach.
The G20 meeting includes 19 nations plus the European Union. In focus, a meeting between President Trump and China’s President Xi regarding trade.
Investors aren’t expecting a trade deal at the G20 meeting this weekend. A reduction in U.S. tariffs on Chinese goods is probably too much to ask for.
What outcome are investors seeking? Absent the unlikely prospect of an agreement, or significant progress towards a deal—
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