Saturday,
March 16, 2024
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The week in review
• The U.S. economy added 275,000 jobs in February, significantly more than expected, by 67,000 jobs in healthcare. However, the unemployment rate for February increased to 3.9%, its highest level since January 2022, but still well below its historical average. Job gains from January and December were revised down.
• Another strong jobs report will likely factor into the Federal Reserveâs next policy meeting later this month, as investors have already adjusted their expectations for the first interest rate cuts this year.
• Another inflation indicator showed that prices rose more than expected in February. Wholesale prices rose 0.6% in February, and 1.6% year-over-year, the biggest annual increase since September of last year. Wholesale inflation measures price changes for producers, with the expectation that some of these high costs may be passed onto consumers.
• The U.S. 10-year Treasury yield jumped 10 basis points to 4.29% following the news as the market digested what another hot inflation report could mean for the Federal Reserveâs interest rate policy.
For more economic news, visit On the Money â SoFiâs one-stop-shop for news, trends, and tips!
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Last month, Liz sat down with legendary quarterback Steve Young to talk about his career transition from the NFL to private equity and the big lessons he learned along the way. The two discussed how to evaluate a new investment, what alternatives can bring to the game, and the most important ingredient to becoming a successful investor.
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This weekâs top stories
Looking for a new job? These are the hottest cities for job growthHint: None of them are New York, LA, or San Francisco. Look further south!
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