Jack Woods

 

Central Business Solutions 

301 Lynnfield Street, P.O. Box 3169 Peabody, MA 01960

 

Phone:  978-532-0266

Fax:      978-532-9105

 

1147 Main Street, Suite 213, P.O. Box 299 Tewksbury, MA 01876

 

Phone: 978-851-8044

Fax:     978-851-9332

 

Email: jack@cbps.com

December 2019

December 2019 Short Bits

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THAT’S RICH!

Want to be really, really rich? Wealth-X, a global leader in wealth information and insights, reports that an education from certain colleges combined with working in the banking and finance industry makes this more likely. Leading this endeavor is Harvard University, followed in distant second place by England’s Cambridge University and the National University of Singapore. Better than 4 in 10 ultra-high-net-worth individuals were in the banking and finance industry. In the U.S., Harvard was joined in order by Stanford, the University of Pennsylvania, NYU and Columbia to round out the top five.


JOB GROWTH SLOWING

The U.S. Bureau of Labor Statistics (BLS) reported that total nonfarm payroll employment in August rose by 130,000 while unemployment remained at 3.7%. The number was somewhat disappointing because it showed a slowing in growth, which included temporary Census jobs.


SPENDING UP SLIGHTLY

BLS also recently compiled consumer economic information for all of 2018 and found that spending rose 1.9%. During the same period the Consumer Price Index (CPI-U) rose 2.4% percent, but average pretax income increased by 6.9%. Two bright spots: healthcare expenses rose only 0.8% while education costs fell 5.6%.


STOCK OWNERSHIP

If you’re wondering how many Americans own stock, Gallup has the answer. The research firm found that 55% of Americans owned stock in April 2019, in line with the previous few years, but well below an average of 62% pre-recession from 2001 to 2008.


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