- Only half of Americans work consistently in their 50s due to layoffs, health, caregiving responsibilities, etc. Additionally, workers aged 56 and older earn about 25% less on average in their new jobs after experiencing at least one month of unemployment.
- Historically unemployment has not always derailed the stock market. From 1948-2022 the stock market had a return of 9.9% when the unemployment rate was rising and 14.1% when the unemployment rate was falling.*
- Existing homeowners seem to be partially insulated from recent interest rate hikes. Over 90% of mortgage rate holders have rates below 6%.
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Car insurance rates increased 17% since last May, more than four times the 4% rise in overall inflation. This is partially because of the rising cost of claims, more accidents, higher repair costs, bigger medical bills, and increased litigation.
*Past performance is not indicative of future performance
Barrons - "Only Half of People Stay Employed Through Their 50s. How to Prepare."
The Irrelevant Investor - "Animal Spirits: Why Are Houses So Expensive?"
WSJ - "Car Insurance Rates Are Soaring With Little Relief in Sight"
Economic Calendar
Monday:
None scheduled
Tuesday:
Durable-goods orders (May), Durable-goods minus transportation (May), S&P Case-Shiller home price index (20 cities) (Apr), New home sales (May), Consumer confidence (Jun)
Wednesday:
Advanced U.S. trade balance in goods, Advanced retail inventories (May), Advanced wholesale inventories (May), Fed Chair Powell speaks
Thursday:
Fed chair Powell speaks, GDP (revision) (Q1), Initial jobless claims (Jun), Pending home sales (May)
Friday:
Personal income (nominal) (May), Personal spending (nominal) (May), PCE index (May), Core PCE index (May), PCE (year-over-year), Core PCE (year-over-year), Chicago Business Barometer (Jun), Consumer sentiment (final) (Jun)
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