Happy October! Unemployment declined slightly to 4.1 percent in September from 4.2 percent in August. Meanwhile consumer sentiment continued to decline from 105.6 to 98.7 in the Conference Board’s survey. Such a divergence is inconsistent with an economic slowdown. Perhaps underlying the divergence of economic results and confidence are the facts that U.S. wealth increased $47 trillion in the past five years to a record $156 trillion while real U.S. median income declined $600 per household to $80,600 over the past four years. Consumer confidence can be turned around, but it will probably take rising real median incomes to get there. There is much to be thankful for, and I hope you have the opportunity to spend time with family and friends.
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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