BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, the economy added 201,000 jobs in August, slightly higher than expected and the unemployment rate held steady at 3.9%. Average Hourly Earnings increased 0.4% in August and 2.9% on an annual basis, above forecasts. While the headline number of 201k is solid, higher average early earnings shows that wages may be picking up. While higher wages should give consumers more to spend, it can lead to more inflationary pressure that the Federal Reserve will need to consider. Following the report, interest rates are higher, the US dollar index strengthened, and equity futures are lower heading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
