Our Mission Statement
As a responsible partner TP delivers to clients, employees and the industries we serve the confidence to drive value through the effective use of our diverse professional team.
For more information on the IPPC program
WPM Program Manager
COMPANIES HIRED READILY IN FEBRUARY
U.S. firms added 235,000 net new jobs last month, and the latest Department of Labor employment report showed the largest growth occurring in the construction and education/health care sectors. The DoL also revised January’s job gains upward by 11,000 to 238,000. Payroll expansion has averaged 209,000 per month since December. The headline (U-3) jobless rate ticked down 0.1% to 4.7%, and the total (U-6) jobless rate, counting the underemployed, fell 0.2% to 9.2%.1
FED FUTURES MARKET: MARCH RATE HIKE A GIVEN
The CME Group’s FedWatch Tool, which tracks the prices of 30-day Fed Fund futures to get a bead on traders’ reactions to potential monetary policy moves, put the chance of a March 15 quarter-point interest rate hike at 93% Friday. The odds of another quarter-point move in June were put at 51%.2
OIL SLUMPS 9.1% IN A WEEK
During March 6-10, WTI crude had its worst week since November, retreating to a Friday close of $48.49 on the NYMEX. News of rising output and plentiful stateside inventory hurt prices. In other oil news, a billion-barrel crude reserve was just found in the Alaskan interior – the largest such discovery since the 1980s.3,4
RISING CONFIDENCE, TEMPERED SPENDING
At a mark of 114.8, the Conference Board consumer confidence index reached its highest point in 14½ years in February. Just 20.3% of Americans found jobs “hard to get,” the smallest percentage in eight years. A Department of Commerce report, however, showed only average consumer spending in January: personal spending rose just 0.2% in that month, and it actually slipped 0.3% when adjusted for inflation. Personal incomes grew by 0.4% in the first month of the year.5,6
1 - equities.com/news/a-strong-jobs-report-and-a-growing-divergence-between-jobs-and-employment [3/10/17]
2 - cmegroup.com/trading/interest-rates/countdown-to-fomc.html [3/10/17]
3 - marketwatch.com/story/oil-moves-cautiously-higher-remains-under-50-a-barrel-2017-03-10/ [3/1/17]
4 - money.cnn.com/2017/03/10/investing/ alaska-oil-discovery-repsol-spain/index.html [3/10/17]
5 - marketwatch.com/story/consumer-confidence-hits-15-year-high-2017-02-24 [2/28/17]
6 - cnbc.com/2017/03/01/us-personal-income-jan-2017.html [3/1/17]
"Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion."
"Our incomes are like our shoes; if too small, they gall and pinch us; but if too large, they cause us to stumble and to trip."