Happy June! Instinctively, Americans know wages must rise faster than inflation for standards of living to increase. Fortunately, wages grew 3.9 percent year-over-year while inflation grew only 2.3 percent as of the end of May according to the U.S. Bureau of Labor Statistics. Meanwhile, productivity grew 1.3 percent. As we approach summer, we can expect market turbulence because of tariffs and a potential reconciliation bill, but for workers, the economy remains strong with 139,000 jobs added in May while the unemployment rate stayed at 4.2 percent. I hope you have the chance to enjoy the mountains or the beach this summer with friends and family!
All the Best, Jon Gauthier, President, GWM
If you are not connected to GWM on LinkedIn, request a link at: Linkedin.com/in/jon-gauthier-cfp/. You can also catch up on our latest activities at our Web site, www.gauthierwm.com.
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