Wednesday, Mar 01

The Most Important Thing Today (3/1/23)

Proactive communication about what’s going on in the market and the economy is key to building stronger client relationships. Each week, the Helios team breaks down the most important information your clients need into easy-to-understand talking points for you to share.

Let's talk about labor!

The Labor Market Scorches Estimates

In January, the US labor market blew past estimates by adding 517,000 new jobs to the economy. A Bloomberg survey of economists had suggested the expectation was going to be much lower, at around 188,000.

In fact, just the leisure and hospitality sector alone gained 128,000 jobs, and education and health care racked up 105,000.

Despite headwinds facing the housing market, construction added 25,000 jobs, though jobs within the residential section of the construction sector were relatively flat.

While the jobs market had appeared to be slowly cooling over the last few months, the impact of a continued hot labor market may put a wrinkle into the inflationary environment, and the Fed’s battle to get it under control.

Source: Helios Quantitative Research, Bureau of Labor Statistics

Team Helios

Team Helios

Helios partners with Financial Advisors to help them grow their business, save time, and add scale to their services through enhanced asset management capabilities. Helios was founded in 2016 in Granite Bay, California.