U.S. Economy Added Only 12,000 Jobs in October 2024

By Tom Burnett CFA On November 1, 2024, the Bureau of Labor Statistics issued its Employment Report for October.  Job totals rose by just 12,000, well below the prior 12-month average monthly increase of 194,000.  Two factors were responsible for the small increase—the recent hurricanes in the Southeast…

Advisor Perspectives features an article by Colleen Kelleher Sorrentino and Stacey Mankoff on Navigating the $84 Trillion Wealth Transfer: Shaping the Future of Financial Planning. Read the article here.

By Tom Burnett CFA On October 10, 2024, the Bureau of Labor Statistics issued its Consumer Price report for September. The CPI rose 0.2% in September, the same increase as in August and July. Over the past 12 months, the CPI increased by 2.4%, the smallest 12-month increase since February 2021. The Core…

By Tom Burnett CFA On October 4, 2024, the Bureau of Labor Statistics issued its Employment Report for September 2024. The economy added 254,000 jobs in September, well above the monthly average of 202,000 over the previous 12 months. The unemployment rate was 4.1%, unchanged from the prior month. The…

By Tom Burnett CFA On September 18, 2024, the Federal Open Market Committee (“FOMC”) voted to lower the Fed Funds rate by 50 basis points to a range of 4.75-5.0%. Of the 12 voting members, 11 voted in favor of the cut, one voted for a cut of 25 basis points. This action is the...