October is Financial Planning Month – The Holiday season is approaching quickly, so it’s the perfect time to discuss budgeting, saving, and year-end planning! Take the time this month to check your retirement savings account and review your financial wellness goals before the end of the year.
Participants’ Perspective – End of Year Economic Outlook
- The Federal Reserve met in September to discuss the economic outlook for the remainder of the year and are also scheduled to meet in November and December. September’s meeting provided a Summary of Economic Projections, and December’s meeting is expected to do the same. With a rate cut of 50 basis points from September’s meeting, the Fed’s goal now is to keep inflation stable while simultaneously ensuring jobless rates don’t tick higher, according to Fed Chair Jerome Powell.
- According to the U.S. Bureau of Labor, average hourly earnings increased 0.4% in August 2024. Over the past twelve months, earnings increased 3.8% in total.
- Unemployment has risen from 4.0% to 4.2, which is higher that it was in the prior year at this time (3.8%). However, job gains have occurred in construction and healthcare.
What Else is New?
Other notable stories this month within our organization and beyond! Click the link below to see more!
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