Announced this morning, the economy added 250,000 jobs in October, much higher than expected and the unemployment rate held steady at 3.7%. Average Hourly Earnings grew 0.2% in October and has increased 3.1% on an annual basis. A strong report, with a very healthy headline number, low unemployment, and annual wage growth above 3%. With inflation levels currently in check, near the stated targets, hopefully the Federal Reserve can maintain a measured approach to tightening policy in the months ahead. Meanwhile, per recent reports, it appears President Trump and President Xi Jinping have made some progress on addressing the U.S. / China trade concerns. In all, equity futures and bond yields are higher this morning heading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.