Jobs
On Friday a great jobs report came out. The economy added 223,000 jobs in May and the unemployment rate is at 3.8%. This is the lowest rate in the last 18 years. Layoffs are also at a 50 year low. With the job market so strong and unemployment so low it almost seems imminent that wages should start to push higher.
Employment
With such a good jobs report coming out, it’s important to look under the hood at what contributed to this. This is the lowest unemployment rate for women since 1953. Also, we are starting to see a major statistical step up in that manufacturers are starting to hire high schoolers for summer employment. This further shows the growth in this specific industry.
G7 Summit
The G7 summit will be coming up this week. The G7 is a group of the 7 largest and most advanced economies. This includes Canada, France, Germany, Italy, Japan, U.S., and the United Kingdom. This is intriguing in that the U.S. just imposed tariffs on everyone included in this group. Italy is currently in a populous revolt to leave the EU. The British are currently debating on ways to leave Germany, France and Italy. Also, Canada and the U.S. are in debates on whether NAFTA should continue. Japan seems to be the odd man out with relatively no internal drama.
Greg Powell, CIMA®
President and CEO
Wealth Consultant
Email Greg Powell here
Bobby Norman, CFP®, AIF®
Senior Vice President
Wealth Consultant
Email Bobby Norman here
Ashley Page, JD, MBA
Senior Vice President
Wealth Consultant
Email Ashley Page here
Trey Booth, CFA®, AIF®
Senior Vice President
Wealth Consultant
Email Trey Booth here
Fi Plan Partners is an independent investment firm in Birmingham, AL, serving clients across the nation through financial planning, wealth management and business consulting. Fi Plan Partners creates strategies in the best interest of their clients using both fee based investing and transactional investing.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
Economic forecasts set forth in this presentation may not develop as predicted.
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