US Stocks were lower yesterday as traders have doubts about a US-China trade deal.
The U.S. jobs market’s resilience is not extending to wages, which fell in September for the first time in two years, as companies still aren’t ready to meet a tight labor market with higher pay and workers still are not demanding more. While the September payrolls report showed that the 3.5% unemployment rate is at a fresh 50-year low, it also indicated that average hourly earnings are on the decline.
General Electric Co said yesterday they would freeze pensions for about 20,000 salaried U.S. employees and take other related moves to help the ailing conglomerate cut debt and reduce its retirement fund deficit by up to $8 billion. Analysts said the move would largely offset the rise in GE's pension obligations due to lower interest rates. GE has been taking steps to reduce the $106 Billion in debt they have on their balance sheet.
A groundbreaking research study released yesterday by Humana reveals that $1 out of every $4 spent on health care in the U.S. annually is being wasted. It's a situation that needs to be addressed by the industry at a time when consumers are grappling with spiraling medical costs. Administrative complexity causes $265 billion to be misspent annually and the cost of complexity can become waste when clinicians and health plans work separately, despite our common goals.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.