This past week was all about volatility, the ongoing economic and Federal Reserve uncertainty, and the August jobs report. Surprisingly, the August jobs data showed an economy that continues to move forward despite the headwinds facing us all. The unemployment rate ticked slightly higher to 3.7% from 3.5% in July, mostly driven by an increase in the overall eligible workforce. This latest data point may provide enough of a window to allow the Fed to slow the pace of interest rate increases. Perhaps the soft landing to the economy will still be possible but far from certain right now. Either way, the volatility that has crept back into our markets is likely to stick around for a while.
Yep, summer is over. Schools are mostly back in action and our schedules are adjusting once again. It’s hard to believe that we are sitting on the precipice of Labor Day weekend already. The term “labor” seems like the right word as I know many of us have “labored” over the anxiety the first 8 months of the year has brought upon us. To be honest, this is OK. It’s certainly not what any of us want, but it’s reality. All good things must come to an end at some point and that is exactly where we stand now. The party we have all enjoyed is over, at least in the near-term. Deep down, we knew this period would come. It was inevitable. It’s change that we fear the most. Change comes in many forms and the challenges that we each face continue to test our strength and resolve. We learn from these periods in time, we pivot, and we move on with a stronger will and more wisdom in our pockets.
I particularly appreciate the term “labor”.
La*bor / noun / work, especially hard physical work; make great effort.
That’s who we are as citizens of this wonderful world. Yes, we may be divided at times, but our core values and willingness to come together and help one another in times of need are what makes us special. In the long run, our hard work is what drives us to achieve our goals. While the last several years has tested our mettle in many ways and perhaps adjusted our paths slightly, the end results remain attainable. As your trusted advisors and planners, we are prepared to address and meet these challenges head on!
Now……who is ready for some pumpkin spice, fall colors, cool nights, and warm fires. I know I am, enjoy your long weekend!
Christopher E. Wasson, CFP®
Mosaic Asset Partners, LLC
1122 Kenilworth Drive, Suite 310
Towson, MD 21204
410.821.0089 fax 410.821.5993
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Mosaic Asset Partners, LLC is not affiliated with Kestra IS or Kestra AS.
The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.