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The headline jobs number in the April employment report was below expectations, and February and March payrolls were revised down by 22,000 combined. The employment population ratio decreased, and the unemployment rate increased to 3.9%. Construction employment increased 9 thousand and is now 604 thousand above the pre-pandemic level. Manufacturing employment increased 8 thousand and is now 181 thousand above the pre-pandemic level.
Berkshire Hathaway Is Berkshire's energy business still a growth engine moving forward? (bloomberg.com) You can't talk Berkshire without talking about Apple ($AAPL). (wsj.com) Why Berkshire Hathaway ($BRK.A) should buy Boeing ($BA). (bloomberg.com) Finance Regional banks are embracing their boring side. (bloomberg.com) SVB is selling its venture capital arm.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study indicates that nearly a third of advisors in the independent broker-dealer channel have considered transitioning to the RIA channel during the past year as they seek higher payouts and not just "independence" but greater autonomy over how they run their businesses and serve their clients.
The Federation of Americans for Consumer Choice and several co-plaintiffs claim the Department of Labor wants to “fundamentally reshape” settled industry practices.
From the BLS : Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in social assistance, and in transportation and warehousing. The change in total nonfarm payroll employment for February was revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by 12,000, from +303,000 to +315,000.
From the BLS : Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in social assistance, and in transportation and warehousing. The change in total nonfarm payroll employment for February was revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by 12,000, from +303,000 to +315,000.
Timothy Admire, president and CEO of Willow Creek Wealth Management, discusses maximizing the capabilities of the technology his $1.7 billion AUM firm is already paying for.
From Goldman: We lowered our Q2 GDP tracking estimate by 0.1pp to +3.3% (qoq ar) and our domestic final sales estimate by the same amount to +2.7% (qoq ar). [May 2nd estimate] emphasis added And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.3 percent on May 2, unchanged from May 1 after rounding.
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 2.4% Below Peak Excerpt: It has been over 17 years since the bubble peak. In the February Case-Shiller house price index released on Tuesday, the seasonally adjusted National Index (SA), was reported as being 71% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 10% above the bubble peak (and historically there has been an upward slope to real house prices).
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Eddy Ray Blizzard pleaded guilty late last year to defrauding an elderly victim of his retirement funds. An FBI Special Agent said Blizzard deserved “every year” in prison.
Alternatives Patrick O'Shaughnessy talks with Marc Lasry, CEO of Avenue Capital Group, about investing in sports. (joincolossus.com) Matt Ziegler talks with Howard Lindzon about the intersection of markets and venture capital. (epsilontheory.com) Phil Bak talks volatility laundering and more with Cliff Asness. (youtube.com) Hedge funds William Green chats with Bryan Lawrence, a highly successful hedge fund manager who runs Oakcliff Capital.
She was previously president of Honey, where she orchestrated the company’s sale to PayPal Holdings Inc. for $4 billion. She has been named one of Ad Age’s 100 Most Influential Women in Advertising. She previously held executive leadership positions at Microsoft, Yahoo!, Pinterest, SoFi, Demand Media. BusinessWeek nd the San Francisco Chronicle.
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Sixth Street has held preliminary talks with potential investors about the vehicle, which will seek to invest in sports teams and leagues, media rights and related businesses.
The season 3 finale of Lost was one of the most mind-blowing episodes of television I’ve ever watched. It completely broke the mold of the show from flashbacks to flashforwards. We have to go back is a line that’s etched into my memory for good: Subscribe to The Compound so you never miss an episode. Further Reading: Who is Buying a House in This Market?
Momentum continues to receive much attention from researchers because of the strong empirical evidence. Momentum and the Clarity of the Trend was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of April 19th, the index was at 17.434, down 4.427 from the previous week, with 5 of the 6 components in expansion territory.
Barron's wrote about the mess of required minimum distributions (RMDs) from IRAs. The age that we have to start is slowly going higher which is good thing but criticisms of RMDs being unnecessarily complicated are more than fair. The comments were useful as is often the case. One sentiment that popped up a few times was the threat of RMDs kicking people into higher tax brackets.
Apple Inc. shares jumped the most in almost a year-and-a-half after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.
What to Do With a Sudden Cash Windfall Wondering what to do with a sudden financial windfall? The first step is to hold off on making any major purchases or decisions until you’ve had time to consider your options. Whether the windfall was expected, perhaps from the sale of a business, or unexpected, you’ll want to make a plan for the future.
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. April saw a 175,000 increase in total non-farm payrolls and the unemployment inched up to 3.9%.
Here are some things I think I am thinking about this weekend. 1) The labor market continues to soften. Friday’s employment report was just right. Not too hot and not too cold. But it also showed very clear signs of a softening labor market as I discussed earlier in the week when we got the JOLTS report and the quit rate. As expected, the quit rate was indicative of lower hourly earnings and the recent rate of 3.9% is the lowest year over year gain in hourly earnings in a long time.
The S&P 500 finished in the green this week thanks to a late week rally. The index is currently up 8.12% year to date and now sits 2.41% below its record close from March 28, 2024.
A retirement crisis could turn out to be the biggest headache in most of the countries, including India. This has been voiced by many veterans earlier. Recently, an article by The Ken titled – Why more 40-somethings are becoming ‘unwilling retirees’ brings the spotlight back to this topic. Gone are the days when one could think of retiring comfortably in their 60s.
It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
What to Do With a Sudden Cash Windfall Wondering what to do with a sudden financial windfall? The first step is to hold off on making any major purchases or decisions until you’ve had time to consider your options. Whether the windfall was expected, perhaps from the sale of a business, or unexpected, you’ll want to make a plan for the future.
Question from a subscriber : “I’ve spoken at a few events but never at big conferences. How do I get more/better speaking gigs when every time I try I get ignored?” Conference organizers and event planners can be super icy. Why is it so hard to get professional speaking engagements? Look at it from the conference organizer’s point of view – they take a chance on a speaker, and the person bombs (they get stage fright, say something inappropriate, or just plain st
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
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