Jobless at 50-Year Low, Buying a Home in Italy for $1 and a Handy Wine Chart!

Posted in , By David M. Smith

Last week it was announced the jobless rate continued to fall.  As long as jobs are plentiful and wages grow, it bodes well for continued growth of the economy.  Though jobs are not growing as strongly as previously, they are still growing and a big reason for this economic expansion that has lasted more than a decade. This week we have economic articles on the jobless rate, service sector job growth, plus trade.  There are also articles on how having a positive outlook is good for your heart, Medicare enrollment begins next week, buying a home in Italy for about $1 (What!), and a chart to track the best times to drink wine from different regions and varietals!  Thank you for reading The Friday Buzz!

  • Employment Like It's December, 1969:  Even with the pace of hiring slowing down, the U.S. jobless rate hit a 50-year low in September.  The U.S. economy added 136,000 jobs last month and the jobless rate dipped to 3.5%, down from the August reading of 3.7%.  This is the lowest unemployment rate since December, 1969.  It is also a big reason the economy continues to moderately expand this year even with the headwinds of trade wars, the struggling manufacturing sector and political events.  WSJ CNBC
  • Service Economy Growing More Slowly:  The U.S. service sector continues to grow, but at a slower rate than in previous years.  The impact of the slowdown in the manufacturing sector from the trade wars may now be affecting the broader economy.  The service sector accounts for approximately 80% of U.S. jobs and the majority of new job growth occurs in the sector.  The Fed will surely be watching service job growth as an indicator of how aggressive they should be with lowering short-term rates.  WSJ  BLS
  • A Positive Outlook is Good for the Heart:  Having an optimistic outlook and positive view on life may lower your cardiovascular risk.  So turn that frown upside down and walk on the bright side of the road!  NYT
  • Medicare Open Enrollment Begins October 15:  This is the time when those on Medicare can switch between fee-for-service Medicare, Medicare Advantage, and prescription drug coverage plans.  The Medicare website has tools to help consumers evaluate options.  Medicare  NYT
  • Partial Trade Deal a Possibility?  Hopes are fading for an all-encompassing "grand" U.S. – China trade agreement.  But there are signs that both sides may be open to partial agreements for certain products and particular areas.  There was cautious optimism as both sides met this week in Washington.  WSJ
  • Want to Buy a Home in Sicily for 1 Euro?  Residents of the town of Sambuca in Sicily were losing residents to the city and their little town was dwindling.  They decided to act decisively and offered to sell abandoned homes for 1 Euro earlier this year.  The announcement provided international attention and they have sold dozens of homes.  It is early, but it appears to have been successful and now other small towns are exploring similar deals.  BBC
  • Handy Dandy Wine Chart:  Do you like wine, but you're unsure when is the best time it is to open a bottle?  The Wine Enthusiast creates an annual chart to let you know when you should store them or savor them.  Salut!  Wine Enthusiast

Have a great weekend and thank you for reading The Friday Buzz! 

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About the Author David M. Smith

David is a Senior Financial Advisor and the firm’s Co-Chief Investment Officer. He has more than 20 years’ experience in the financial services industry and holds the highly respected Certified Investment Management Analyst™ and Certified Financial Planner™ designations; he is a Co-Managing Member of the firm.
Disclaimer and Disclosures: Past performance is no guarantee of future results. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Our opinions are subject to change without notice as market and economic conditions shift. Robinson Smith Wealth Advisors, LLC is a Registered Investment Advisor with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply any certain level of skill or training. Personalized financial planning and individual investment advice are not offered through this website. The general financial and investment information furnished through this website or associated with this website by links is believed to be accurate, however, Robinson Smith Wealth Advisors makes no guarantee to this fact and does not have control over the accuracy of websites found through links within.