March 2024

Happy March! The February jobs report showed the creation of 275,000 jobs while the unemployment rate increased to 3.9 percent. At first, these data points appear to be conflicting, but given the downwardly revised January jobs number from 353,000 to 229,000, it is likely the February jobs number will be revised lower as well. The weakening in the jobs market will enable the Federal Reserve to follow through on its expectation to cut interest rates in 2024. This will be good news for consumers, businesses, and government borrowing costs. I hope you have the opportunity to enjoy the early days of spring with family and friends!

All the Best, Jon Gauthier, President, GWM

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Click To Read GWM Newsletter – March 2024