April 2024

Happy Spring! The March jobs report showed the robust creation of 303,000 jobs while the unemployment rate declined slightly to 3.8 percent. The largest contributors to jobs were health care (72,000), government (71,000), and hospitality (49,000). Meanwhile, wages increased 0.3 percent, or 4.1 percent from a year ago. The household survey showed a mixed report of a net loss of 6,000 full-time jobs and an increase of 691,000 part-time jobs. At the same time, the number of workers reporting two or more jobs increased 217,000. This underscores well the joy and angst of the American consumer. And because the economy and inflation risks remain too strong for interest rate cuts, we wait a little longer. I hope you enjoy the warmer days of spring with family and friends!

All the Best, Jon Gauthier, President, GWM

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Click To Read GWM Newsletter – April 2024