Market Watch: Payrolls Rise, Unemployment Falls, Job Openings Tighten

  • Home
  • Market Recaps
  • Market Watch: Payrolls Rise, Unemployment Falls, Job Openings Tighten
trade show

Market Watch: Payrolls Rise, Unemployment Falls, Job Openings Tighten

SPY
S&P 500
Last Week: 1.09%
YTD: 20.84%
1 Year: 15.33%
DIA

Dow Jones Industrial Average

Last Week: 0.48%
YTD: 9.76%
1 Year: 6.73%
ONEQ
NASDAQ
Last Week: 1.76%
YTD: 39.04%
1 Year: 29.35% 
Russell 2000
Last Week: 0.63%
YTD: 7.79%
1 Year: 3.43% 
Large Growth
YTD: 36.63%
1 Year: 26.17% 
*As of 11/30/2023
Large Value
YTD: 5.03%
1 Year: 2.21%
*As of 11/30/2023

US Payrolls

Nonfarm payrolls, which measures the number of workers in the US, rose 199,000 in November. This was slightly better than the 190,000 estimated. The largest contributors were healthcare, adding 77,000 jobs; government, adding 49,000 jobs; and leisure and hospitality, adding 40,000. Average hourly earnings, a key inflation measure, increased by .4% for the month, up 4% from a year ago.

Unemployment Rates

Unemployment rates declined to 3.7%, compared to the forecasted 3.9%. The labor force participation rate increased slightly in the month. A more encompassing unemployment rate that includes discouraged workers and those with part-time positions for economic reasons fell to 7%, a decline of almost a quarter of a percent. The duration of unemployment fell substantially, dropping to an average of 19.4 weeks. This is the lowest duration since February.

Job Openings

Job openings in November were down 617,000, or 6.6%. The total openings came in at 8.73 million for the month. This was the lowest since March 2021, bringing the ratio of openings to workings down to 1 from 1.3. This news of a tighter labor market is what the Fed has aimed to do with its tightening monetary policy to control inflation. Quits, which measures worker confidence in the ability to change jobs, was mostly unchanged. Quit rates peaked in late 2021 and early 2022 at 3%, which has been deemed the Great Resignation period.
  • Alex Wolfe

    Alex is a Certified Financial Planner™. He brings nearly a decade of experience working with individuals, families, and business owners. Prior to working for Base Wealth Management, Alex worked for Fidelity Investments and an independent wealth management firm in Venice, FL. Through many years of practice, he specializes in helping clients navigate their financial goals through comprehensive financial planning. He received his bachelor’s degree in economics from Texas A&M University.

Ready for your Journey?
Fill out the form below!

SUBSCRIBE TO OUR YOUTUBE CHANNEL!

Click here to go to our YouTube channel and subscribe for weekly financial updates and more! We’d love your help to in getting to 500 subscribers!

Register for our Open House event!

2022 Tax Document Information

As a Base Wealth Management client, you should receive your paper tax documents via mail in the coming weeks. Or, if you previously had an online account with Pershing’s NetX360, you should be able to access your 2022 tax documents through that portal. 

If not, or if you experience any issues, please reach out to Tim O’Brien (tim.obrien@intervestintl.com).

Get a FREE Solo 401(K) Guide

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Roth 457 Guide!

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Roth 401(K) Guide

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Solo 401(K) 2-Pager for FireFighters

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE copy of Divorce the IRS

If you would like to request a physical copy of Divorce the IRS, please fill out the form below.

"*" indicates required fields

Name*
Address*
This field is for validation purposes and should be left unchanged.
 *This book is most suitable for households with $250K or more in investable assets.
 

OOPS!

You’ve stumbled across an element that isn’t quite ready for the web yet. We’re working on a lot of new features so stay tuned.

-The Base Wealth Team

Choose your advisor

Dan DiLascia

Sean Koscho

Kyle
Howell

Josh
Pisa