WEEKLY TIP
As we approach the middle of the month, review your recent purchases and expenses. Identify any impulse buys or unnecessary expenditures and challenge yourself to cut back on non-essential spending. Redirecting those funds towards savings or debt repayment can help you achieve your financial goals faster.
WEEKLY QUOTE
“The first step towards getting somewhere is to decide you’re not going to stay where you are.”
– J.P. MORGAN
WEEKLY RIDDLE
What starts with “t,” ends with “t,” and has “t” in it?
LAST WEEK’S RIDDLE
What can go through glass without breaking it?
ANSWER: Light
Weekly Economic Update
March 11, 2024
UNEMPLOYMENT AT 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://www.cnbc.com
https://markets.businessinsider.com
https://ycharts.com
Accessed 03/08/2024
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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 OLV Investment Group.
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.
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