{"id":2153,"date":"2024-02-05T15:07:10","date_gmt":"2024-02-05T19:07:10","guid":{"rendered":"https:\/\/wellspringwealth.com\/?p=2153"},"modified":"2024-02-05T15:07:10","modified_gmt":"2024-02-05T19:07:10","slug":"weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs","status":"publish","type":"post","link":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/","title":{"rendered":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs."},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-blend:overlay;--awb-bg-size:cover;--awb-margin-bottom:0px;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-text fusion-text-1\"><p><span style=\"color: #008000;\"><strong>The Markets<\/strong><\/span><\/p>\n<p>We\u2019ve been hearing a lot about layoffs.<\/p>\n<p>Last week, the January 2024 Challenger Report found that employers based in the United States cut more than 82,000 jobs in January. That\u2019s a lot. In December 2023, about 35,000 layoffs were announced. The January job cuts were concentrated in a few industries, and the reasons for the cuts included companies restructuring to lower costs and reorienting toward artificial intelligence.<\/p>\n<p>Layoffs often are a sign the economy is losing steam, but that doesn\u2019t appear to have been the case in January since employers added more than 353,000 new jobs during the month, reported the Bureau of Labor Statistics (BLS).<\/p>\n<p>If we subtract the number of layoffs from the number of new jobs (353,000 \u2013 82,000 = 271,000), the total number of jobs created in January was still significantly higher than the 185,000 new jobs economists anticipated.<\/p>\n<p>Overall, the U.S. unemployment rate remained at 3.7 percent, although there were differences by gender and race.<\/p>\n<ul>\n<li>Women (over age 20)\u00a0\u00a0\u00a0\u00a0\u00a0 3.2 percent<\/li>\n<li>Men (over age 20)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.6 percent<\/li>\n<li>Asian\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2.9 percent<\/li>\n<li>White\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3.4 percent<\/li>\n<li>Hispanic\/Latino\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.0 percent<\/li>\n<li>Black\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5.3 percent<\/li>\n<\/ul>\n<p>The BLS reported that wages moved higher in January. Average hourly earnings increased 4.5 percent over the 12 months through January 2024. If inflation continues to slow \u2013 it was 3.4 percent in December \u2013 that could be good news for consumers. However, the fight against rising prices continues. Katia Dmitrieva of <em>Bloomberg<\/em> explained:<\/p>\n<p>\u201cThe [employment] report clearly shows that demand [for workers] and wage pressures are far from cooling. That is consequential for the Federal Reserve, which has been signaling that the strength in the labor market shows inflationary pressures are still in the system, and that\u2019s something policymakers will keep in mind before pivoting to rate cuts.\u201d<\/p>\n<p>After falling for much of the week, U.S. Treasury yields rose after strong jobs data dashed hopes the Federal Reserve would cut rates sooner rather than later. Stock investors remained confident despite the possibility that rates would remain higher for longer, and major U.S. stock indices finished the week higher.<\/p>\n<table border=\"\u201d1\u201d\" cellspacing=\"\u201d0\u201d\" cellpadding=\"\u201d3\u201d\">\n<tbody>\n<tr>\n<td width=\"246\"><strong>Data as of 2\/2\/24<\/strong><\/td>\n<td width=\"66\"><strong>1-Week<\/strong><\/td>\n<td width=\"66\"><strong>YTD<\/strong><\/td>\n<td width=\"66\"><strong>1-Year<\/strong><\/td>\n<td width=\"60\"><strong>3-Year<\/strong><\/td>\n<td width=\"60\"><strong>5-Year<\/strong><\/td>\n<td width=\"72\"><strong>10-Year<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"246\">Standard &amp; Poor&#8217;s 500 Index<\/td>\n<td width=\"66\">1.4%<\/td>\n<td width=\"66\">4.0%<\/td>\n<td width=\"66\">18.6%<\/td>\n<td width=\"60\">9.0%<\/td>\n<td width=\"60\">12.7%<\/td>\n<td width=\"72\">11.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">Dow Jones Global ex-U.S. Index<\/td>\n<td width=\"66\">0.1<\/td>\n<td width=\"66\">-1.5<\/td>\n<td width=\"66\">1.5<\/td>\n<td width=\"60\">-2.4<\/td>\n<td width=\"60\">2.8<\/td>\n<td width=\"72\">2.0<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">10-year Treasury Note (yield only)<\/td>\n<td width=\"66\">4.0<\/td>\n<td width=\"66\">N\/A<\/td>\n<td width=\"66\">3.4<\/td>\n<td width=\"60\">1.1<\/td>\n<td width=\"60\">2.7<\/td>\n<td width=\"72\">2.6<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">Gold (per ounce)<\/td>\n<td width=\"66\">0.8<\/td>\n<td width=\"66\">-2.1<\/td>\n<td width=\"66\">5.9<\/td>\n<td width=\"60\">3.5<\/td>\n<td width=\"60\">9.2<\/td>\n<td width=\"72\">4.9<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">Bloomberg Commodity Index<\/td>\n<td width=\"66\">-2.1<\/td>\n<td width=\"66\">-2.0<\/td>\n<td width=\"66\">-11.6<\/td>\n<td width=\"60\">6.0<\/td>\n<td width=\"60\">3.6<\/td>\n<td width=\"72\">-2.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>S&amp;P 500, Dow Jones Global ex-US, Gold, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized; and the 10-year Treasury Note is simply the yield at the close of the day on each of the historical time periods.\u00a0Sources: Yahoo! Finance; MarketWatch; djindexes.com; U.S. Treasury; London Bullion Market Association. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly. N\/A means not applicable.<strong>\u00a0<\/strong><\/p>\n<p><span style=\"color: #008000;\"><strong>THE NATIONAL DEBT IS BIG.<\/strong><\/span><\/p>\n<p>Last year, the U.S. economy produced about $27.9 trillion worth of goods and services. At the end of 2023, the U.S. national debt was about $33.2 trillion.<\/p>\n<p>So, America\u2019s debt is currently bigger than its economy.<\/p>\n<p>The U.S. national debt has accumulated over decades. Each year the government spends more than it receives, the debt grows. When the government spends less than receives, the debt shrinks. Over the last 50 or so years, the government has taken in more than it\u00a0spent only\u00a0five times. The last time was 2001.<\/p>\n<p>The debt generally falls into two categories:<\/p>\n<p style=\"padding-left: 40px;\"><strong>Debt held by the public <\/strong>amounted to about $26.9 trillion in 2023. It includes U.S. Treasury securities that have been sold to investors. Economists generally consider this to be \u201cthe most meaningful measure of debt, because it reflects the amount that the Treasury has borrowed from outside lenders through financial markets to support government activities,\u201d reported the Peter G. Peterson Foundation.<\/p>\n<p style=\"padding-left: 40px;\"><strong>Debt the government owes itself<\/strong>, which amounted to about $7.1 trillion in 2023. This is the money the U.S. government owes to itself. For example, when Social Security, Medicare, and other national government programs take in more than they need. The extra is invested in U.S. Treasuries that are held in the program\u2019s trust funds.<\/p>\n<p>We\u2019re not alone. The level of government debt has grown around the world. The Institute of International Finance forecasts that global debt would total $310 trillion for 2023, reported Sam Meredith of CNBC.<\/p>\n<p><strong>How do we finance the debt?<\/strong><\/p>\n<p>The U.S. government finances its debt by selling securities such as Treasury bills, notes, bonds. When the debt grows or interest rates rise, the cost of interest increases. As a result, less money may be available for programs that support economic growth, education, Social Security, and other programs.<\/p>\n<p>Higher debt can lead to slower economic growth. \u201cA study by the World Bank found that countries whose debt-to-GDP ratios exceed 77% for prolonged periods experience significant slowdowns in economic growth,\u201d reported Will Kenton of <em>Investopedia<\/em>. Since the U.S. economy and the U.S. stock market tend to be highly correlated, market returns might slow, too.<\/p>\n<p>Some economists point out that higher rates can stimulate economic growth because they put more money in the hands of consumers, and consumers tend to be the driving force behind the U.S. economy. \u201c\u2026People who are holding government bonds, paying higher rates of interest, are getting a huge windfall in the form of interest income and that income can be spent just like any other form of income,\u201d explained a source cited by Charlotte Morabito of CNBC.<\/p>\n<p><strong>How much is too much?<\/strong><\/p>\n<p>Economists are uncertain how much debt is too much debt for developed nations to hold. Last year, though, researchers at Penn Wharton of the University of Pennsylvania suggested that 200 percent of gross domestic product (GDP) would be the limit for the United States. In 2023, U.S. debt-to-GDP ratio was 123 percent.<\/p>\n<p><span style=\"color: #008000;\"><strong>Weekly Focus \u2013 Think About It\u00a0 <\/strong><\/span><\/p>\n<p>\u201cThe price of greatness is responsibility.\u201d<\/p>\n<p style=\"text-align: right;\"><em>\u2014Winston Churchill, statesman <\/em><\/p>\n<\/div><div class=\"fusion-text fusion-text-2\"><p>Sincerely,<br \/>\nYour Team at Wellspring Wealth<\/p>\n<\/div><div class=\"fusion-builder-row fusion-builder-row-inner fusion-row\"><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-0 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth fusion-column-first\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );margin-right: 5px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"DavidGlover_2018\" src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DavidGlover_2018.png\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DavidGlover_2018-200x300.png\" alt class=\"lazyload img-responsive wp-image-431\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27300%27%20height%3D%27449%27%20viewBox%3D%270%200%20300%20449%27%3E%3Crect%20width%3D%27300%27%20height%3D%27449%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DavidGlover_2018-200x299.png 200w, https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DavidGlover_2018.png 300w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 800px) 100vw, 200px\" \/><\/span><\/div><div class=\"fusion-text fusion-text-3\"><p>David Glover<br \/>\nAIF\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-1 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );margin-right: 5px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-2 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"DennisWright_2018\" src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DennisWright_2018.png\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DennisWright_2018-200x300.png\" alt class=\"lazyload img-responsive wp-image-432\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27300%27%20height%3D%27449%27%20viewBox%3D%270%200%20300%20449%27%3E%3Crect%20width%3D%27300%27%20height%3D%27449%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DennisWright_2018-200x299.png 200w, https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/DennisWright_2018.png 300w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 800px) 100vw, 200px\" \/><\/span><\/div><div class=\"fusion-text fusion-text-4\"><p>Dennis Wright<br \/>\nAEP\u00ae, ChFC\u00ae, CLU\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-2 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );margin-right: 5px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-3 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"MarkWinston_2018\" src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/MarkWinston_2018.png\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/MarkWinston_2018-200x300.png\" alt class=\"lazyload img-responsive wp-image-435\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27300%27%20height%3D%27449%27%20viewBox%3D%270%200%20300%20449%27%3E%3Crect%20width%3D%27300%27%20height%3D%27449%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/MarkWinston_2018-200x299.png 200w, https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/03\/MarkWinston_2018.png 300w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 800px) 100vw, 200px\" \/><\/span><\/div><div class=\"fusion-text fusion-text-5\"><p>Mark Winston<br \/>\nCFP\u00ae, AIF\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-3 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );margin-right: 5px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-4 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"AndrewWright_2018\" src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/AndrewWright_2018.png\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/AndrewWright_2018-200x300.png\" alt class=\"lazyload img-responsive wp-image-467\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27300%27%20height%3D%27449%27%20viewBox%3D%270%200%20300%20449%27%3E%3Crect%20width%3D%27300%27%20height%3D%27449%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/AndrewWright_2018-200x299.png 200w, https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/AndrewWright_2018.png 300w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 800px) 100vw, 200px\" \/><\/span><\/div><div class=\"fusion-text fusion-text-6\"><p>Andrew Wright<br \/>\nCFP\u00ae, AIF\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-4 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );margin-right: 5px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-5 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"ValeriBishop_2018\" src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/05\/ValeriBishop_2018-1.png\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/05\/ValeriBishop_2018-1-200x300.png\" alt class=\"lazyload img-responsive wp-image-529\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27300%27%20height%3D%27449%27%20viewBox%3D%270%200%20300%20449%27%3E%3Crect%20width%3D%27300%27%20height%3D%27449%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/05\/ValeriBishop_2018-1-200x299.png 200w, https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/05\/ValeriBishop_2018-1.png 300w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 800px) 100vw, 200px\" \/><\/span><\/div><div class=\"fusion-text fusion-text-7\"><p>Valeri Bishop<br \/>\nAIF\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column_inner fusion-builder-nested-column-5 fusion_builder_column_inner_1_6 1_6 fusion-one-sixth fusion-column-last\" style=\"--awb-bg-size:cover;width:16.666666666667%;width:calc(16.666666666667% - ( ( 5px + 5px + 5px + 5px + 5px ) * 0.16666666666667 ) );\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-image-element in-legacy-container\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-6 hover-type-none\"><img decoding=\"async\" width=\"200\" height=\"300\" title=\"Head shot WMC\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27200%27%20height%3D%27299%27%20viewBox%3D%270%200%20200%20299%27%3E%3Crect%20width%3D%27200%27%20height%3D%27299%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2022\/03\/Head-shot-WMC-200x300.jpg\" alt class=\"lazyload img-responsive wp-image-1536\"\/><\/span><\/div><div class=\"fusion-text fusion-text-8\"><p>Dan O&#8217;Rourke<br \/>\nCFP\u00ae<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;border-color:#e0dede;border-top-width:1px;\"><\/div><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-9\"><p><strong>Sources:<\/strong><\/p>\n<div style=\"font-size: 9pt;\">\n<p><a href=\"https:\/\/www.challengergray.com\/blog\/job-cuts-announced-by-us-based-companies-surge-136-to-82307-to-begin-2024-financial-tech-lead\/\">https:\/\/www.challengergray.com\/blog\/job-cuts-announced-by-us-based-companies-surge-136-to-82307-to-begin-2024-financial-tech-lead\/<\/a><\/p>\n<p><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm<\/a><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/02\/02\/us-economy-added-353000-jobs-in-january-much-better-than-expected.html\">https:\/\/www.cnbc.com\/2024\/02\/02\/us-economy-added-353000-jobs-in-january-much-better-than-expected.html<\/a><\/p>\n<p><a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm<\/a><\/p>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-02\/us-jobs-report-january-2024-5-takeaways-from-payrolls-unemployment\">https:\/\/www.bloomberg.com\/news\/articles\/2024-02-02\/us-jobs-report-january-2024-5-takeaways-from-payrolls-unemployment<\/a> (<em>or go to<\/em> <a href=\"https:\/\/resources.carsongroup.com\/hubfs\/WMC-Source\/2024\/02-05-24_Bloomberg_Key%20Takeaways%20From%20the%20US%20Jobs%20Report%20for%20Jan_5.pdf\">https:\/\/resources.carsongroup.com\/hubfs\/WMC-Source\/2024\/02-05-24_Bloomberg_Key%20Takeaways%20From%20the%20US%20Jobs%20Report%20for%20Jan_5.pdf<\/a>)<\/p>\n<p><a href=\"https:\/\/www.barrons.com\/market-data?mod=BOL_TOPNAV\">https:\/\/www.barrons.com\/market-data?mod=BOL_TOPNAV<\/a> (<em>or go to <\/em><a href=\"https:\/\/resources.carsongroup.com\/hubfs\/WMC-Source\/2024\/02-05-24_Barrons_Data_6.pdf\">https:\/\/resources.carsongroup.com\/hubfs\/WMC-Source\/2024\/02-05-24_Barrons_Data_6.pdf<\/a>)<\/p>\n<p><a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2024-01\/gdp4q23-adv.pdf\">https:\/\/www.bea.gov\/sites\/default\/files\/2024-01\/gdp4q23-adv.pdf<\/a><\/p>\n<p><a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/national-debt\/\">https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/national-debt\/<\/a><\/p>\n<p><a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/national-deficit\/\">https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/national-deficit\/<\/a><\/p>\n<p><a href=\"https:\/\/www.pgpf.org\/blog\/2023\/05\/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt\">https:\/\/www.pgpf.org\/blog\/2023\/05\/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt<\/a><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/01\/16\/davos-banking-group-iif-sounds-the-alarm-on-record-global-debt.html\">https:\/\/www.cnbc.com\/2024\/01\/16\/davos-banking-group-iif-sounds-the-alarm-on-record-global-debt.html<\/a><\/p>\n<p><a href=\"https:\/\/www.pgpf.org\/analysis\/2023\/07\/higher-interest-rates-will-raise-interest-costs-on-the-national-debt\">https:\/\/www.pgpf.org\/analysis\/2023\/07\/higher-interest-rates-will-raise-interest-costs-on-the-national-debt<\/a><\/p>\n<p><a href=\"https:\/\/www.investopedia.com\/terms\/d\/debtgdpratio.asp\">https:\/\/www.investopedia.com\/terms\/d\/debtgdpratio.asp<\/a><\/p>\n<p><a href=\"https:\/\/blogs.cfainstitute.org\/investor\/2023\/03\/17\/myth-busting-the-economy-drives-the-stock-market\/\">https:\/\/blogs.cfainstitute.org\/investor\/2023\/03\/17\/myth-busting-the-economy-drives-the-stock-market\/<\/a><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/09\/10\/why-the-national-debt-can-both-help-and-hurt-the-us-economy.html\">https:\/\/www.cnbc.com\/2023\/09\/10\/why-the-national-debt-can-both-help-and-hurt-the-us-economy.html<\/a><\/p>\n<p><a href=\"https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2023\/10\/6\/when-does-federal-debt-reach-unsustainable-levels\">https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2023\/10\/6\/when-does-federal-debt-reach-unsustainable-levels<\/a><\/p>\n<p><a href=\"https:\/\/www.brainyquote.com\/quotes\/winston_churchill_101477\">https:\/\/www.brainyquote.com\/quotes\/winston_churchill_101477<\/a><\/p>\n<\/div>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\" \/>\n<meta property=\"og:site_name\" content=\"Wellspring Wealth\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-05T19:07:10+00:00\" \/>\n<meta name=\"author\" content=\"WWAdmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"WWAdmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\"},\"author\":{\"name\":\"WWAdmin\",\"@id\":\"https:\/\/wellspringwealth.com\/#\/schema\/person\/75166c3abc6b53c4cc6f9ed062cbcf88\"},\"headline\":\"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs.\",\"datePublished\":\"2024-02-05T19:07:10+00:00\",\"dateModified\":\"2024-02-05T19:07:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\"},\"wordCount\":3723,\"publisher\":{\"@id\":\"https:\/\/wellspringwealth.com\/#organization\"},\"articleSection\":[\"Weekly Market Commentary\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\",\"url\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\",\"name\":\"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth\",\"isPartOf\":{\"@id\":\"https:\/\/wellspringwealth.com\/#website\"},\"datePublished\":\"2024-02-05T19:07:10+00:00\",\"dateModified\":\"2024-02-05T19:07:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wellspringwealth.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wellspringwealth.com\/#website\",\"url\":\"https:\/\/wellspringwealth.com\/\",\"name\":\"Wellspring Wealth\",\"description\":\"Wellspring Wealth financial services in Atlanta, Georgia\",\"publisher\":{\"@id\":\"https:\/\/wellspringwealth.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wellspringwealth.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wellspringwealth.com\/#organization\",\"name\":\"Wellspring Wealth\",\"url\":\"https:\/\/wellspringwealth.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wellspringwealth.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/WellspringWealth_LogoTransparentSm.png\",\"contentUrl\":\"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/WellspringWealth_LogoTransparentSm.png\",\"width\":200,\"height\":42,\"caption\":\"Wellspring Wealth\"},\"image\":{\"@id\":\"https:\/\/wellspringwealth.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/wellspringwealth.com\/#\/schema\/person\/75166c3abc6b53c4cc6f9ed062cbcf88\",\"name\":\"WWAdmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wellspringwealth.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/11885b1d1d4aaec2c1507340922d06b6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/11885b1d1d4aaec2c1507340922d06b6?s=96&d=mm&r=g\",\"caption\":\"WWAdmin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/","og_locale":"en_US","og_type":"article","og_title":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth","og_url":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/","og_site_name":"Wellspring Wealth","article_published_time":"2024-02-05T19:07:10+00:00","author":"WWAdmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"WWAdmin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#article","isPartOf":{"@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/"},"author":{"name":"WWAdmin","@id":"https:\/\/wellspringwealth.com\/#\/schema\/person\/75166c3abc6b53c4cc6f9ed062cbcf88"},"headline":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs.","datePublished":"2024-02-05T19:07:10+00:00","dateModified":"2024-02-05T19:07:10+00:00","mainEntityOfPage":{"@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/"},"wordCount":3723,"publisher":{"@id":"https:\/\/wellspringwealth.com\/#organization"},"articleSection":["Weekly Market Commentary"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/","url":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/","name":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs. - Wellspring Wealth","isPartOf":{"@id":"https:\/\/wellspringwealth.com\/#website"},"datePublished":"2024-02-05T19:07:10+00:00","dateModified":"2024-02-05T19:07:10+00:00","breadcrumb":{"@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/wellspringwealth.com\/2024\/02\/05\/weekly-market-commentary-weve-been-hearing-a-lot-about-layoffs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wellspringwealth.com\/"},{"@type":"ListItem","position":2,"name":"Weekly Market Commentary \u2013 We\u2019ve been hearing a lot about layoffs."}]},{"@type":"WebSite","@id":"https:\/\/wellspringwealth.com\/#website","url":"https:\/\/wellspringwealth.com\/","name":"Wellspring Wealth","description":"Wellspring Wealth financial services in Atlanta, Georgia","publisher":{"@id":"https:\/\/wellspringwealth.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wellspringwealth.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wellspringwealth.com\/#organization","name":"Wellspring Wealth","url":"https:\/\/wellspringwealth.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wellspringwealth.com\/#\/schema\/logo\/image\/","url":"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/WellspringWealth_LogoTransparentSm.png","contentUrl":"https:\/\/wellspringwealth.com\/wp-content\/uploads\/2018\/04\/WellspringWealth_LogoTransparentSm.png","width":200,"height":42,"caption":"Wellspring Wealth"},"image":{"@id":"https:\/\/wellspringwealth.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/wellspringwealth.com\/#\/schema\/person\/75166c3abc6b53c4cc6f9ed062cbcf88","name":"WWAdmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wellspringwealth.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/11885b1d1d4aaec2c1507340922d06b6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/11885b1d1d4aaec2c1507340922d06b6?s=96&d=mm&r=g","caption":"WWAdmin"}}]}},"_links":{"self":[{"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/posts\/2153"}],"collection":[{"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/comments?post=2153"}],"version-history":[{"count":5,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/posts\/2153\/revisions"}],"predecessor-version":[{"id":2158,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/posts\/2153\/revisions\/2158"}],"wp:attachment":[{"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/media?parent=2153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/categories?post=2153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wellspringwealth.com\/wp-json\/wp\/v2\/tags?post=2153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}