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From the BLS : Total nonfarm payroll employment increased by 263,000 in November , and the unemployment rate was unchanged at 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing. The change in total nonfarm payroll employment for September was revised down by 46,000, from +315,000 to +269,000, and the change for October was re
LET’S GIVE A ROUND OF APPLAUSE TO SAM BANKMAN-FRIED pic.twitter.com/HIVB3nTX2V — The_Real_Fly (@The_Real_Fly) November 30, 2022 Last night’s interview between the New York Times’ Andrew Ross Sorkin and Sam Bankman-Fried ended with the host thanking the accused criminal mastermind for coming, despite the protestations of his lawyers. The audience applauded as the screen went black.
Case-Shiller home price data via St. Louis Fed, chart by Mish. Home Price Synopsis Home prices have peaked this cycle but the decline is certainly tiny compared to the run up. Case-Shiller data lags. The latest data is from September and that represents sales primarily made in July and August so the declines shown are undoubtedly understated. Prices are falling now across the board.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Nov 26, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 53% above one year ago.
As we have been discussing since May of this year, there are increasing signs we have been groping for a bottom in the equity markets. This “Process” is not a single event but rather, a series of events the totality of which increasingly weighs the probability towards that positive resolution. I use the word probability because this outcome is not pre-ordained, but rather, subject to future events which have yet to unfold.
Monthly average Fed Funds Rate via St. Louis Fed. Chart Notes I use monthly averages because the Fed now targets a range. Also the Fed Funds Target Rate is discontinued and only dates to 1982. This is the steepest, most aggressive hiking cycle ever. You can see the impact especially in mortgage rates and thus housing. 30-Year Fixed Mortgage Rates 1975-Present. 30-year fixed mortgage rates courtesy of Mortgage News Daily. 30-Year Fixed Mortgage Rates - One Year. 30-year fixed mortgage rates court
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Nov 19, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 49% above one year ago.
It is amazing to think about how Toyota blew its enormous lead in Hybrid tech, failing to launch any substantial push into EVs. The chart below shows exactly how much sales have fallen for the first hybrid EV America has fallen into — and then out of love with. The Prius today badly lags the RAV4, its sister crossover, in Toyota hybrid sales. But the latest design is a handsome reboot, and should help sales pick up.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
Top clicks this week Lessons learned from a young Warren Buffett. (neckar.substack.com) How do stocks beat inflation? (thereformedbroker.com) The normalization of interest rates is going to change how people invest. (blairbellecurve.com) There are five levels of wealth. (physicianonfire.com) Five reasons for optimism, including 'expected returns are rising.
Active inventory decreased slightly. Here are the same week inventory changes for the last four years ( usually inventory declines seasonally through the Winter ): 2022: -4.8K (smaller than usual decrease in inventory) 2021: -9.9K 2020: -15.1K 2019: -18.4K Altos reports inventory is down 0.8% week-over-week and down 2.3% from the peak on October 28th.
This was a fun conversation with my buddy Pete about all the media madness these days — it was as I was recovering from C19, and while I felt fine, my voice sounds pretty gravelly. If you find that kind of thing tolerable, people seemed to really like this discussion. Lots more details here. Enjoy! The post November 2022: Stand Up with Pete appeared first on The Big Picture.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. As a fellow small businessperson, I know how hard you work. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k).
Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.67% in October from 0.69% in September. The serious delinquency rate is down from 1.46% in October 2021. This is close to pre-pandemic levels. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
Last day of the 11th month! Enjoy the end of November with our mid-week morning train reads: • How Much Growth Can You Expect? Imagine I present to you a magical box that can turn your money into more money. The only problem is that you don’t know exactly how much more money you’ll get from this box. You could put $100 into the box and get back $200, $400, or maybe only $150 when all is said and done.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Let’s assume we’re going to have a recession in 2023. I don’t know if we will, but everyone seems to think so, so let’s just say. So what. What can you do to stop it? Not much. Can you change your own spending and psych yourself up to survive it? Absolutely. Are there changes you could make to a portfolio in order to gird yourself for a worsening economy?
The headline jobs number in the November employment report was above expectations, however employment for the previous two months was revised down by 23,000, combined. The participation rate decreased, and the unemployment rate was unchanged at 3.7%. Leisure and hospitality gained 88 thousand jobs in November. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 980 thousand jobs since February 2020.
Source: Federal Reserve Bank of Philadelphia. The Coincident State Indexes for October 2022 snuck out last week right before Thanksgiving. You might have missed it during the holiday week, but it’s worth reviewing. The specifics are noteworthy: -Over the past month, the indexes increased in 20 states, decreased in 22 states, and remained stable in eight, making a one-month diffusion index of -4.
Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Image courtesy of StockCharts.Com. The Federal Reserve posts a Transcript of Powell's Speech on Inflation and the Labor Market. Powell put a spotlight on core Personal Consumption Expenditures (PCE) inflation, noting that it is stubbornly high despite the Fed's rate hikes. Key Powell Comments (Emphasis Mine) Twelve-month core PCE inflation stands at 5.0 percent in our October estimate, approximately where it stood last December when policy tightening was in its early stages.
The key report this week is the November employment report on Friday. Other key indicators include the 2nd estimate of Q3 GDP, the September Case-Shiller and FHFA house price indexes, October Personal Income & Outlays (and PCE), the November ISM manufacturing index, and November vehicle sales. Fed Chair Powell speaks on the economic outlook, inflation and the labor market on Thursday. -- Monday, November 28th -- 10:30 AM: Dallas Fed Survey of Manufacturing Activity for November.
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • Climate Change from A to Z : The stories we tell ourselves about the future. ( New Yorker ). • A comprehensive guide to how Elon Musk is changing Twitter : Mass layoffs, trolling, and check marks: How Elon Musk is running Twitter. ( Vox ) see also Twitter was special.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
The biz Podcasting ad revenue is expected to rise in 2023. (insideradio.com) Joe Rogan maintained his hold as the No. 1 podcaster on Spotify for 2022. (variety.com) The problem with Spotify ($SPOT) Wrapped. (wired.com) Anderson Cooper is working through his grief on a new podcast 'All There Is With Anderson Cooper.' (nytimes.com) Business Joe Weisenthal and Tracy Alloway talk with Margaret O'Mara author of the book "The Code: Silicon Valley and the Remaking of America.
From Fed Chair Powell: Inflation and the Labor Market. Excerpts: Today I will offer a progress report on the Federal Open Market Committee's (FOMC) efforts to restore price stability to the U.S. economy for the benefit of the American people. The report must begin by acknowledging the reality that inflation remains far too high. My colleagues and I are acutely aware that high inflation is imposing significant hardship, straining budgets and shrinking what paychecks will buy.
As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. Financial planning technology, in particular, has allowed advisors to automate time-intensive back-office tasks and delegate routine analyses to support staff, freeing up their time to engage more personally with clients.
Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
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