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Weekly Economic Update, February 6-10, 2017

Posted by on 8:30 am in Announcements: Financial Planning, General Parrott Insurance News | Comments Off on Weekly Economic Update, February 6-10, 2017

POSITIVES & NEGATIVES IN JANUARY’S JOB DATA The Department of Labor’s latest jobs report showed 227,000 net new hires last month. Unfortunately, wages grew just 0.1% in January as the headline jobless rate rose slightly to 4.8%. The U-6 rate, counting the underemployed, rose 0.2% to 9.4%.1 STRONG CONSUMER CONFIDENCE & SPENDING While the Conference Board’s monthly consumer confidence index declined 1.5 points in January, it remained at a high level with a 111.8 reading. Personal spending improved 0.5% in December, with personal...

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Weekly Economic Update, January 9 – 13, 2017

Posted by on 10:15 am in Announcements: Financial Planning, General Parrott Insurance News | Comments Off on Weekly Economic Update, January 9 – 13, 2017

RISING WAGES, MODERATE HIRING IN DECEMBER The Department of Labor’s latest employment report shows the average hourly wage at $26.00 last month, up 2.9% in a year. That is the largest annualized wage increase seen since June 2009. Payrolls expanded by 156,000 additional hires in December, leaving total 2016 job growth at a 5-year low of 2.2 million. (This could be a sign of the labor market reaching full employment.) The headline jobless rate ticked up to 4.7%, while the U-6 rate encompassing the underemployed was at 9.2%.1...

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Weekly Economic Update, January 2-6, 2017

Posted by on 9:17 am in Announcements: Financial Planning, General Parrott Insurance News | Comments Off on Weekly Economic Update, January 2-6, 2017

A SURGE IN CONSUMER OPTIMISM The Conference Board’s consumer confidence index continued to climb in December. Analysts polled by MarketWatch projected a reading of 110.0 for the gauge, but it beat that forecast, rising 4.3 points to a 15-year peak of 113.7. The major factor in the gain? Growing expectations of a better economy, particularly among older Americans. The CB’s monthly expectations index reached a high unseen since December 2003.1,2 PENDING HOME SALES SLIP Housing contract activity declined 2.5% in November, according...

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Weekly Economic Update, December 19-23, 2016

Posted by on 2:47 pm in Announcements: Financial Planning, General Parrott Insurance News | Comments Off on Weekly Economic Update, December 19-23, 2016

FED RAISES RATES, PLOTS THREE 2017 HIKES Federal Reserve policymakers unanimously chose to raise the benchmark interest rate by a quarter point last week. That was expected; less expected was the central bank’s adjustment to its 2017 dot-plot. Fed officials now see three rate hikes next year instead of two. The move to the new target range of 0.50-0.75% sent the dollar and bond yields higher Wednesday – the yield on the 2-year note quickly touched a peak unseen since August 2009. Stocks suffered only moderate losses after the...

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Weekly Economic Update, December 12-16, 2016

Posted by on 9:12 am in Announcements: Financial Planning, General Parrott Insurance News | Comments Off on Weekly Economic Update, December 12-16, 2016

SERVICE SECTOR LOOKS VERY HEALTHY The Institute for Supply Management’s monthly services index improved 2.4 points in November to a 57.2 reading. Analysts polled by Briefing.com had expected a small gain to 55.6. It was the PMI’s best reading since October 2015, and it marked the 82nd consecutive month of expansion for the non-manufacturing segment of the economy.1 HOUSEHOLD SENTIMENT SOARS Rising 4.2 points to a mark of 98.0, December’s initial University of Michigan consumer sentiment index came in just a tenth of a point below...

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