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From the BLS : Total nonfarm payroll employment increased by 263,000 in November , and the unemployment rate was unchanged at 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing. The change in total nonfarm payroll employment for September was revised down by 46,000, from +315,000 to +269,000, and the change for October was re
LET’S GIVE A ROUND OF APPLAUSE TO SAM BANKMAN-FRIED pic.twitter.com/HIVB3nTX2V — The_Real_Fly (@The_Real_Fly) November 30, 2022 Last night’s interview between the New York Times’ Andrew Ross Sorkin and Sam Bankman-Fried ended with the host thanking the accused criminal mastermind for coming, despite the protestations of his lawyers. The audience applauded as the screen went black.
Payroll and employment data from the BLS, chart by Mish. Today, the Bureau of Labor Statistics released its Monthly Payroll Report. Initial Thoughts The discrepancy between jobs and employment continues for the eighth month. Lost in the unemployment and jobs headline noise are huge divergences between jobs and employment dating back to March. Payrolls vs Employment Since March 2022 Nonfarm Payrolls: +2,692,000 Employment Level: +12,000 Full Time Employment: -398,000 Employment fell by 138,000 in
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Nov 26, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 53% above one year ago.
As we have been discussing since May of this year, there are increasing signs we have been groping for a bottom in the equity markets. This “Process” is not a single event but rather, a series of events the totality of which increasingly weighs the probability towards that positive resolution. I use the word probability because this outcome is not pre-ordained, but rather, subject to future events which have yet to unfold.
Case-Shiller home price data via St. Louis Fed, chart by Mish. Home Price Synopsis Home prices have peaked this cycle but the decline is certainly tiny compared to the run up. Case-Shiller data lags. The latest data is from September and that represents sales primarily made in July and August so the declines shown are undoubtedly understated. Prices are falling now across the board.
Case-Shiller home price data via St. Louis Fed, chart by Mish. Home Price Synopsis Home prices have peaked this cycle but the decline is certainly tiny compared to the run up. Case-Shiller data lags. The latest data is from September and that represents sales primarily made in July and August so the declines shown are undoubtedly understated. Prices are falling now across the board.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Nov 19, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 49% above one year ago.
It is amazing to think about how Toyota blew its enormous lead in Hybrid tech, failing to launch any substantial push into EVs. The chart below shows exactly how much sales have fallen for the first hybrid EV America has fallen into — and then out of love with. The Prius today badly lags the RAV4, its sister crossover, in Toyota hybrid sales. But the latest design is a handsome reboot, and should help sales pick up.
Monthly average Fed Funds Rate via St. Louis Fed. Chart Notes I use monthly averages because the Fed now targets a range. Also the Fed Funds Target Rate is discontinued and only dates to 1982. This is the steepest, most aggressive hiking cycle ever. You can see the impact especially in mortgage rates and thus housing. 30-Year Fixed Mortgage Rates 1975-Present. 30-year fixed mortgage rates courtesy of Mortgage News Daily. 30-Year Fixed Mortgage Rates - One Year. 30-year fixed mortgage rates court
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
Active inventory decreased slightly. Here are the same week inventory changes for the last four years ( usually inventory declines seasonally through the Winter ): 2022: -4.8K (smaller than usual decrease in inventory) 2021: -9.9K 2020: -15.1K 2019: -18.4K Altos reports inventory is down 0.8% week-over-week and down 2.3% from the peak on October 28th.
This was a fun conversation with my buddy Pete about all the media madness these days — it was as I was recovering from C19, and while I felt fine, my voice sounds pretty gravelly. If you find that kind of thing tolerable, people seemed to really like this discussion. Lots more details here. Enjoy! The post November 2022: Stand Up with Pete appeared first on The Big Picture.
Top clicks this week Lessons learned from a young Warren Buffett. (neckar.substack.com) How do stocks beat inflation? (thereformedbroker.com) The normalization of interest rates is going to change how people invest. (blairbellecurve.com) There are five levels of wealth. (physicianonfire.com) Five reasons for optimism, including 'expected returns are rising.
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.
Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.67% in October from 0.69% in September. The serious delinquency rate is down from 1.46% in October 2021. This is close to pre-pandemic levels. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
Source: Federal Reserve Bank of Philadelphia. The Coincident State Indexes for October 2022 snuck out last week right before Thanksgiving. You might have missed it during the holiday week, but it’s worth reviewing. The specifics are noteworthy: -Over the past month, the indexes increased in 20 states, decreased in 22 states, and remained stable in eight, making a one-month diffusion index of -4.
One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. As a fellow small businessperson, I know how hard you work. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k).
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?
The headline jobs number in the November employment report was above expectations, however employment for the previous two months was revised down by 23,000, combined. The participation rate decreased, and the unemployment rate was unchanged at 3.7%. Leisure and hospitality gained 88 thousand jobs in November. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 980 thousand jobs since February 2020.
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • Climate Change from A to Z : The stories we tell ourselves about the future. ( New Yorker ). • A comprehensive guide to how Elon Musk is changing Twitter : Mass layoffs, trolling, and check marks: How Elon Musk is running Twitter. ( Vox ) see also Twitter was special.
Let’s assume we’re going to have a recession in 2023. I don’t know if we will, but everyone seems to think so, so let’s just say. So what. What can you do to stop it? Not much. Can you change your own spending and psych yourself up to survive it? Absolutely. Are there changes you could make to a portfolio in order to gird yourself for a worsening economy?
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
The key report this week is the November employment report on Friday. Other key indicators include the 2nd estimate of Q3 GDP, the September Case-Shiller and FHFA house price indexes, October Personal Income & Outlays (and PCE), the November ISM manufacturing index, and November vehicle sales. Fed Chair Powell speaks on the economic outlook, inflation and the labor market on Thursday. -- Monday, November 28th -- 10:30 AM: Dallas Fed Survey of Manufacturing Activity for November.
5 years ago, a dear friend unexpectedly passed away. Once his crew recovered from our initial shock, we decided to establish the Richard Yamarone Memorial Scholarship in Economics at Brooklyn College.* The driving force behind the scholarship was TBP Invictus. Art Cashin shared a reminder today: “Many of us were deeply saddened (5 yearsa go today) to learn of the sudden passing of Rich Yamarone at age 55 of complications of a cardiac event.
Image courtesy of StockCharts.Com. The Federal Reserve posts a Transcript of Powell's Speech on Inflation and the Labor Market. Powell put a spotlight on core Personal Consumption Expenditures (PCE) inflation, noting that it is stubbornly high despite the Fed's rate hikes. Key Powell Comments (Emphasis Mine) Twelve-month core PCE inflation stands at 5.0 percent in our October estimate, approximately where it stood last December when policy tightening was in its early stages.
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.
From Fed Chair Powell: Inflation and the Labor Market. Excerpts: Today I will offer a progress report on the Federal Open Market Committee's (FOMC) efforts to restore price stability to the U.S. economy for the benefit of the American people. The report must begin by acknowledging the reality that inflation remains far too high. My colleagues and I are acutely aware that high inflation is imposing significant hardship, straining budgets and shrinking what paychecks will buy.
The biz Podcasting ad revenue is expected to rise in 2023. (insideradio.com) Joe Rogan maintained his hold as the No. 1 podcaster on Spotify for 2022. (variety.com) The problem with Spotify ($SPOT) Wrapped. (wired.com) Anderson Cooper is working through his grief on a new podcast 'All There Is With Anderson Cooper.' (nytimes.com) Business Joe Weisenthal and Tracy Alloway talk with Margaret O'Mara author of the book "The Code: Silicon Valley and the Remaking of America.
As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. Financial planning technology, in particular, has allowed advisors to automate time-intensive back-office tasks and delegate routine analyses to support staff, freeing up their time to engage more personally with clients.
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.
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