U.S. Employment Numbers Continue to Recover in August

By Tom Burnett CFA On September 4, 2020, the Bureau of Labor Statistics announced that the economy added 1.37 million new jobs in August. In addition, the report indicated that the unemployment rate declined to 8.4% from 10.2% in July and 11.1% in June. The rate in February was just 3.5% before the impact…

By Tom Burnett CFA On August 27, 2020, Federal Reserve Chairman Jerome Powell delivered an online speech which describes a new approach to inflation, interest rates and employment. In his speech, Powell indicated that the Fed would no longer raise rates and slow the economy if inflation approached the…

Kelleher Financial Advisors 2nd Quarter 2020 Newsletter

By Tom Burnett CFA On August 7, the Bureau of Labor Statistics announced the national employment situation for July. Total employment rose by 1.8 million and the unemployment rate fell from 11.1% to 10.2%. Total employment now stands at 143.5 million, down 12.9 million from February. One year ago, the…

By Tom Burnett CFA On July 29, 2020, the Federal Reserve announced that its Governors had voted unanimously to leave the interest rates on short-term, fed funds unchanged at the range of 0-.25%. In its announcement, the Fed emphasized that the weak economic conditions are expected to continue well into…