SPY
S&P 500
Last Week: 1.09%
YTD: 20.84%
1 Year: 15.33%
YTD: 20.84%
1 Year: 15.33%
DIA
Dow Jones Industrial Average
Last Week: 0.48%
YTD: 9.76%
1 Year: 6.73%
YTD: 9.76%
1 Year: 6.73%
ONEQ
NASDAQ
Last Week: 1.76%
YTD: 39.04%
1 Year: 29.35%
YTD: 39.04%
1 Year: 29.35%
Russell 2000
Last Week: 0.63%
YTD: 7.79%
1 Year: 3.43%
YTD: 7.79%
1 Year: 3.43%
Large Growth
YTD: 36.63%
1 Year: 26.17%
*As of 11/30/2023
1 Year: 26.17%
*As of 11/30/2023
Large Value
YTD: 5.03%
1 Year: 2.21%
*As of 11/30/2023
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.
