2023-6-13 18:59 |
Quick Take Liz Ann Sonders, the chief investment strategist at Charles Schwab, pointed out that the unemployment rate in the U.S. is below 4%, the longest period under that level since the 1970s. The unemployment rate is currently 3.7%, up from 3.4% in May. The unemployment rate is continuing to increase due to rising interest rates as it puts further pressure on jobs. The Federal Reserve, without saying it out loud, wants to break the strong labor market as this will be one way of reducing inflation. The expectation is labor market stays strong but will continue to rise slowly as the year progresses. Unemployment Rate: (Source: Liz Ann Sonders)
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