What the early 1980s implies for American unemployment today

A past recession may prove a useful guide to the recovery ALTHOUGH AMERICA’S unemployment rate shocked almost everyone by falling in May, 20m workers remain out of a job because of the coronavirus pandemic. The official unemployment rate is 13.3%, though that rises to about 16% if everyone who was employed but absent from work because of the pandemic is …

How Our Values Will Shape Our “New Normal”

It isn’t easy to maintain our bearings with everything breaking and shaking around us, but I would venture to bet that one thing is certain. Our values will prevail. What we held dear in February 2020, we will hold dear in February 2021. And even better, our values, if they are strong, will enable us to shape the kind of …

Protests Are Raging in America’s Biggest Cities. So Why Is the Stock Market up?

America seems like its on the verge of collapse. But not the stock market. On Monday, as cities around the U.S. grappled with clashes between racial justice protesters and police, and looting went all but unchecked, the Dow Jones Industrial Average closed up 92 points. Tuesday it was up another 150 points in midday trading to 25,630, the highest point …

3 Questions To Ask Your Advisor Right Now

The roller coaster of the past 3 months leaves many with the same basic questions. Are you swimming naked? I can break my 34-year investment career into 2 distinct periods: those times where most people did not really follow the stock market closely, and those when it was front-of-mind. For several years at a time, markets go about their way, …

Yes, Numbers Matter in Money Decisions, but So Do Emotions

Imagine you’re sitting in an auditorium full of all kinds of people. Everyone is there to learn about what to do with his or her money. All of a sudden, the door to the room opens, and in walks the much-anticipated speaker. Who do you think it is? If you said Warren Buffett or the retired Fidelity ace Peter Lynch, …

Is Home The New Office?

The office is dead and remote working is the future, or so they say. By forcing people to work from home, the coronavirus pandemic has opened businesses’ eyes to new ways of working – and the office doesn’t feature.  Twitter and Square have given employees permission to work from home “forever”, while organizations such as Mondelez, Nationwide and Barclays have …

A Guide to Pandemic Scams, and What Not to Fall For

Never have we been so attractive as targets for fraudsters and scammers as we are right now. That’s because the uncertainty around the coronavirus pandemic has created more opportunities for robocallers, hackers and other thieves. For one thing, millions of people are filing new claims for unemployment benefits and awaiting stimulus checks. So when a phone call or an email …

6 Smart Moves if You Get Laid Off Before You Were Planning to Retire

The coronavirus pandemic has thrown many older workers’ plans into disarray, as they lose their jobs before they’d planned to retire. April saw the highest monthly job loss on record: 20.5 million jobs. Overall unemployment jumped to 14.7%, the highest since the Great Depression. For people age 55 and older, unemployment surged from 3.3% in March to 13.6% in April, …