The 390,000 new jobs added to the U.S. economy in May exceeded expectations. The unemployment rate held steady at 3.6% and average hourly earnings moderated a bit at an annualized rate of 5.2%. The strength of payrolls in May was widespread, with solid gains in professional & business services employment (+75,000), leisure & hospitality (+84,000), construction (+36,000) and manufacturing (+18,000). The one weak spot was retail, where employment fell by 61,000. Elements of the May report show signs of a deceleration in wage growth, but thus far the slowing is not sufficient to let the Fed alter their plans for additional 50 bps rate hikes.
Ben Tuscai joins the Sunpointe Team... Read More
Published Works
Over the past twenty years, Michael has written five books on behavioral finance and emotional investing to help clients make better investment decisions and reach their goals. His latest work below on the left is designed to help individuals recognize and better manage their behavioral investing biases in any stage of life or market environment.
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