Similarly, the unemployment rate has also been stable, at 4.1 percent, for four months after years of steady improvements. Plus, the underemployment rate actually ticked up, for the second month in a row, to 8.2 percent. These are still very healthy levels and indicative of a very strong labor market. But the fact that they have stopped improving may suggest that things won't get better from here.
As Good As It Gets
Make no mistake, this is a strong report and one that shows continued growth. At the same time, there are increasing signs that we are moving toward the end of the cycle. As good as this report is, it is very likely going to be as good as it gets.
Brad McMillan is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer-RIA. He is the primary spokesperson for Commonwealth’s investment divisions. This post originally appeared on The Independent Market Observer, a daily blog authored by McMillan.