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
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Patrick HueyPatrick Huey is a small business owner and the author of two books on history and finance as well as the highly-rated recently-released fictional work Hell: A Novel. As owner of Victory Independent Planning, LLC, Patrick works with families and non-profit organizations. He is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Advisor in Philanthropy® and an Accredited Tax Preparer. He earned a Bachelor’s degree in History from the University of Pittsburgh, and a Master of Business Administration from Arizona State University. Archives
September 2024
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Patrick Huey is an investment advisor representative of Dynamic Wealth Advisors dba Victory Independent Planning, LLC. All investment advisory services are offered through Dynamic Wealth Advisors. You can learn more about us by reading our ADV. You can get your copy on the Securities and Exchange Commission website. See https:/ / adviserinfo.sec.gov/IAPD by searching under crd #151367. You can contact us if you would like to receive a copy. The tax services and preparation conducted by Patrick Huey and Victory Independence Planning are considered outside business activities from Dynamic Wealth Advisors. They are separate and apart from Mr. Huey's activities as an investment advisor representative of Dynamic Wealth Advisors.
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