The U.S. BLS reported last week that the Consumer Price Index (CPI) jumped 0.8% in April vs March. The so-called core CPI, which excludes food and energy, rose 0.9% in April, the fastest monthly pace in 40 years.
At 6.1% as of April, the unemployment rate remains elevated (U.S. BLS). Yet, companies are growing increasingly desperate to find workers.
Over the last two months, the number of job openings has soared by over 1 million to 8.1 million as of March (U.S. BLS, latest data).
- It’s far ahead of the 7.6 million record in November 2018.
In the April NFIB survey of small business confidence, “44% of business owners reported job openings they could not fill,” a fresh record.
One year ago, the economy was in a freefall thanks to lockdowns and shelter-in-place orders. For many around the country, only businesses that were deemed essential were open.
Why should I take action today when I can do it tomorrow? Procrastination is the enemy of your finances.
According to the Charles Schwab Modern Wealth Survey 2019—
- 60% of those who have a written financial plan feel financially stable vs only one-third who feel the same way without a plan.