Index of Help Wanted On Line (HWOL) Ads

The chart above illustrates the magnitude of the difference between the unemployment rate and help wanted ads online, as measured by the Conference Board. There are millions of unfilled job openings being generated by increasing demand, yet many individuals remain out of the workforce. It will be difficult to bring the U.S. economy back to pre-COVID levels until the labor market returns to equilibrium. Until then, the supply of some goods and services may be limited.

U.S. & World Equity Indexes; 7/6/21; YTD Return S&P 500; 4,326; 15.20% Dow Jones Industrials; 34,473; 12.63% Nasdaq Composite; 14,609; 13.36% Shanghai Composite (China); 3,530; 1.65% S&P BSE Sensex (India); 52,861; 10.70% Nikkei Stock Avg (Japan); 28,643; 4.37% CAC 40 (France); 6,507; 17.22% DAX (Germany); 15,511; 13.07% FTSE 100 (U.K.); 7,100; 8.05%
Selected Interest Rates; 7/6/21; Prior Period 15-Year Mortgage; 2.26%; 2.34% 30-Year Mortgage; 2.98%; 2.97% 5-Year Treasury Bond; 0.86%; 0.80% 10-Year Treasury Bond; 1.44%; 1.62% 30-Year Treasury Bond; 2.05%; 2.28%
Key Economic Statistics; Most Recent; Prior Month National Producer Price Index; 0.80%; 0.60% Consumer Price Index; 0.60%; 0.80% Unemployment Rate; 5.90%; 5.80% ISM Manufacturing Index; 60.60; 61.20 ISM Services Index; 60.10; 64.00 Change in Non-farm Payroll Emp.; 850,000; 599,000 New York State Consumer Price Index - NY, NJ, CT; 0.50%; 0.70% Unemployment Rate; 7.80%; 8.20% Empire State Manufacturing Survey; 17.40%; 24.40%

U.S. Unemployment Rate

The U.S. labor market has improved dramatically from the levels seen during the onset of the initial COVID-19 shutdowns last spring. However, the rate of improvement has declined in 2021, as many workers elect to stay home due to concerns over child care, benefits, and exposure to COVID-19 in the workplace. Help Wanted signs have become ubiquitous as businesses try to staff up.

Equity Market Statistics; Most Recent; Prior Month Dow Jones Industrials; 7/6/21; 6/6/21 Dividend Yield; 1.80%; 1.84% Price/Earnings (12-Mth Trailing); 28.52; 32.57 Price/Earnings (Projected); 20.22; 21.60 S&P 500 Index; 7/6/21; 6/6/21 Dividend Yield; 1.40%; 1.55% Price/Earnings (12-Mth Trailing); 39.90; 34.24 Price/Earnings (Projected); 22.27; 21.95

The information herein was obtained from various sources believed to be accurate; however, Forté Capital does not guarantee its accuracy or completeness. This report was prepared for general information purposes only. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities, options, or futures contracts. Forté Capital’s Proprietary Market Risk Barometer is a summary of 30 indicators and is copyrighted by Forté Capital LLC. For further information, visit www.fortecapital.com, send a message to [email protected], or call 866-586-8100 and ask for David W. Henion, CPA, or Larry H. Rabinowitz, CPA/PFS.