July job openings increased to 10.9 million, up 779,000 from June. The record number suggests weaker August job growth was partly related to a low supply of workers and demand for workers remains robust.Read More
Market Commentary: U.S. Job Creation Slows, Emergency Unemployment Benefits Expire For 7.5 Million People
The U.S. economy produced just 235,000 new jobs in August, missing expectations of 725,000. Unemployment dipped to 5.2%. Average hourly earnings rose 0.6%, partly because wages continue to rise more rapidly compared to the pre-pandemic pace.Read More
Did you know you can utilize a health savings account (HSA) to invest for your future? HSAs have many tax benefits, including tad-deductible contributions and tax-deferred growth. But is one right for you? This worksheet will help you determine if you qualify, as well as identify common mistakes consumers make with HSAs that you can avoid.
Are you healthy? Or are you anticipating some hefty medical bills coming up? Or do you want to save money in a tax-advantaged way for future medical expenses? If so, a health savings account (HSA) might be a good choice. An HSA is a tax-favored savings and investment account that’s used for qualified health care expenses and tethered to high-deductible health plans (HDHPs).Read More
Market Commentary: Fed Chair Signals Reduction in Bond-Buying Program; S&P 500 Reaches Another All-Time High
Federal Reserve Chair Jerome Powell joined the chorus of Fed officials signaling the U.S. central bank would reduce its bond-buying program designed to keep long-term interest rates low and sustain the economy during the pandemic. After two strong jobs reports and generally positive economic news, Fed officials seem ready to reduce bond purchases later this year.Read More
The benefits provided by recent stimulus packages seem to be fading. U.S. retail sales dipped 1.1% last month and have now declined in two of the last three months [Figure 1]. Declines in motor vehicle and online purchases led the fall. Restaurant sales grew 1.7% in July and continue to rebound. Federal Reserve minutes indicated the economy looks strong enough for the central bank to taper bond purchases in coming months.Read More