Jobs Added, Relief Still Needed

Economists reported that 315,000 to 528,000 jobs were added and unemployment fell to 3.5%. The annual inflation rate in the US eased for a second straight month to 8.3% in August of 2022, the lowest in 4 months, from 8.5% in July 2022.

However, there has been some serious concern about housing and basic necessities such as food and personal products.

To be fair, wages are going up and quicker than it has in the past but prices continue to soar. If companies continue to hire and increase wages...significantly, the economy will be balanced. That is the key. As the cost of living rises, wages must match the cost. A slight bump has very little to no effect.

Its no secret. Prices have continued to climb. Meanwhile, although companies are hiring, there has been no significant increase in wages.

The administration says they are concerned and are focused on job gains and wage growth. Financial advisors are keeping an eye on the economy and encourages individuals to remain positive, live responsibly and be creative to come up with ways to bring in more income. They say that even if process is slow, eventually things will even out and get better.