The Monday Mix: Oct. 3 – 9, 2022
— In August, 263,000 new jobs were created in the U.S. and the unemployment rate ticked down to 3.5%; markets sank on the good news since more interest rate increases are likely to flight inflation by slowing the economy.
— In September, job layoff announcements increased by 46% from August, according to data from employment agency Challenger, Gray & Christmas.
— The ISM Manufacturing Index for the U.S. fell more than expected to 50.9, the lowest level since the worst of the pandemic recession in May 2020.
— OPEC said it will cut oil output by 2 million barrels/day, adding to U.S inflation concerns, despite the Biden Administration’s efforts to dissuade the move.
— Louisiana will pull $794 million in pension money from BlackRock Investments because the company’s push for ESG investing is harming the fossil fuel industry.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.