Additionally, average hourly earnings ended the year increasing by 3.2% while gas prices were declining. All of this is stimulus to the consumer, who drives our economy.
While the Labor Department unemployment rate did rise from 3.7% to 3.9%, this statistic illustrates that more people are entering the workforce – yet another positive sign in this economy.
I saw this graphic of a school bus named “growth.” The children on the bus named Deficits, The Fed, Tariffs, Interest Rates, Taxes, Politics, Immigration and Oil were all rowdy. The bus driver labeled “Consumer” said, “They make all the noise, but I drive the bus!”
While this is not a perfect economy, it is a healthy one. Don’t let the gyrations of the market scare you, they are likely short-term because of the noise.
Don’t hesitate to come by, call or write if you have any questions or concerns about how this affects you reaching your goals.
Talk about messing up everyone’s headline; last Friday, the Labor Department reported 312,000 new jobs in December, with an additional 58,000 revision for prior months. It was a crushing blow to the Pouting Pundits of Pessimism and their recession prognostications.
Then there is the talk from the Federal Reserve Chairman, Jerome Powell. He sounded quite “accommodating” saying that they were going to be “patient.” Check out this graphic, where the market views a rate cut as more likely than a rate hike next year.