SATURDAY,MAY 7 , 2022 .THEWASHINGTONPOST EZ RE A
THE MARKETS6 Monitoryour investmentsatwashingtonpost.com/markets Dataand graphicsby
RATESMexico$
2200 .. 116615-Yr Fixed mtge
44 .. 7722 %%COMMODITIES
1-Yr ARM
33 .. 0099 %%New Car Loan Natl
44 .. 3333NASDAQCOMPOSITEINDEX
55 DD%%CChhaannggee
- 00 .. 22 %%
CCuurrrreennccyyEExxcchhaannggee
CClloossee
3322 ,, 889999 .. 337
EExxcchhaannggee--TTrraaddeedd
((TTiiicckkeerr)) 55 DD%%CChhgg
$$ 880022 $$ 22665588
Coffee(COFF.L) -1.
Copper(COPA.L) -3.
Corn (CORN.L) -3.
Cotton(COTN.L) 1.
CrudeOil (CRUD.L) 6.
Gasoline(UGAS.L) 8.
Gold (BULL.L) 0.
NaturalGas (NGAS.L) 17.
Silver(SLVR.L) -2.
Japan ¥
13300 .. 66001Yr CD Natl
00 .. 6600YYYTTTDD%%CChhaannggee
- 2222 .. 44 %%
55 DD%%CChhaannggee
- 11 .. 55 %%
YYYTTTDD%%CChhaannggee
- 1133 .. 55 %%
MJJASONDJFMAM
32,
34,
36,
'EEuurrooppee -- 1133 .. 77 %% ++ 1133 .. 77 %%
STXE 600 (EUR)Pr 429.91 -4.
CAC 40 INDEX 6258.36 -4.
DAX INDEX 13674.29 -3.
FTSE 100 INDEX 7387.94 -1.CCoonnssuummeerrRRaatteess
FederalFunds
11 .. 0000 %%HomeEquityLoan Natl
66 .. 8800$1000investedover 1Month
1100 - -yyrrnnoottee
YYiiieelldd:::
33 .. 14 %%Fuuttuureess CClloossee 55 DD%%CChhgg
Copper 4.27 -3.
CrudeOil 109.77 4.
Gold 1882.80 -1.
NaturalGas 8.04 11.
OrangeJuice 1.76 -2.
FFuuttuureess CClloossee 55 DD%%CChhgg
Silver 22.37 -3.
Sugar 19.16 0.
Soybean 16.22 -3.
Wheat 11.09 5.
Corn 7.85 -3.55 - yyrnnoottee
YYieelldd:
33 .. 0077 %%55 DD%%CChhaannggee
- 00 .. 22 %%
$1000investedover 1Year
STANDARD&POOR'S
AAssiiaaPPaacciiffiicc -- 2200 .. 99 %% + 2200 .. 99 %%
S&P/ASX200 INDEX 7205.64 -3.
CSI 300 INDEX 3908.82 3.
HANGSENGINDEX 20001.96 -1.
NIKKEI 225 27003.56 1.MJJASONDJFMAM
1 2,
1 4,
1 7,
'LIBOR3-Month
11 .. 3377 %%CClloossee
122 ,144.. 6666
Note: Bank primeis from 10 majorbanks.FederalFundsrate is the market
rate, whichcan vary from the federaltargetrate. LIBORis the London
InterbankOfferedRate. Consumerrates are from Bankrate. All figuresas of
4:30 p.m. New York time.GGaaiiinneerrssaannddLLoosseerrssffrroommtthheeSS&&PP 11550000 IInnddeexx
CCoommppaannyy CClloossee55 DD%%
CChhgg
eHealthInc 11.08 37.
LiventCorp 28.02 31.
EPAMSystemsInc347.00 30.
DMC GlobalInc 25.41 27.
AlbemarleCorp 242.41 25.
GriffonCorp 23.44 25.
SelectquoteInc 2.58 25.
ChemoursCo/The 40.06 21.
DevonEnergyCorp 69.69 19.
PowellIndustries 23.11 19.
UnumGroup 36.31 19.
HilltopHoldingsInc30.26 18.
OccidentalPetroleum 64.94 17.
DorianLPG Ltd 17.32 17.
SunrunInc 23.41 17.
RangerOil Corp 37.04 16.
PioneerNatrl Res Co 270.18 16.
ValeroEnergyCorp 129.18 15.
KyndrylHoldingsInc 13.75 15.
NRG EnergyInc 41.40 15.CCoommppaannyy CClloossee
55 DD%%
CChhgg
TupperwareBrands 9.93 -43.
Joint Corp/The 17.41 -43.
UnderArmourInc 9.85 -30.
UnderArmourInc 10.89 -29.
Endo International 1.42 -29.
Hain CelestialGroup 25.22 -24.
ExpediaGroupInc 132.33-24.
TactileSys Tech 13.01 -22.
AndersonsInc/The 38.73 -22.
Inari MedicalInc 62.57 -22.
DISH NetworkCorp 22.22 -22.
HarmonyBiosciences 35.22 -21.
TandemDiabetesCare 76.00 -21.
REGENXBIOInc 22.23 -19.
CognexCorp 54.34 -19.
SproutsFarmersMarket 23.95 -19.
GlatfelterCorp 8.86 -19.
Red RobinGrmt Brgrs 10.65 -19.
CompassMineralsInt 48.11 -18.
CenturyAluminumCo 13.77-18.DoowwJJoonneess 3300 IInndduussttriaallss
CCoommppaannyy CClloossee^55 DDCChh%%gg CChhYYYggTTT%%DD
3M Co 149.53 3.7 -16.
AmerExpCo 167.15 -4.3 2.
AmgenInc 236.50 1.4 5.
AppleInc 157.28 -0.2 -11.
Boeing 148.90 0.0 -26.
Caterpillr 214.65 2.0 3.
Chevron 170.69 8.9 44.
Cisco Sys 49.33 0.7 -22.
Coca-Cola 64.74 0.2 9.
Dow Inc 67.93 2.2 19.
GldmanSchs 312.96 2.4 -18.
HnywllInt 195.43 1.0 -6.
HomeDepot 294.31 -2.0 -29.
IBM 137.67 4.1 2.
Intel Corp 44.30 1.6 -14.
CCoommppaannyy CClloossee^55 DDCChh%%ggCChhYYYggTTT%%DD
J&J 176.37 -2.3 3.
JPMorgan 123.72 3.7 -21.
McDonald's 250.78 0.7 -6.
Merck&Co88.39 -0.3 15.
Microsoft 274.73 -1.0 -18.
NIKE Inc 114.49 -8.2 -31.
Prcter&Gmbl 156.00 -2.8 -4.
Salesforce 169.70 -3.5 -33.
Travelers Cos I171.64 0.3 9.
UntdHlthGr 499.62 -1.8 -0.
VerznComm 48.27 4.3 -7.
Visa Inc 202.82 -4.8 -6.
Walgreens 43.99 3.8 -15.
Walmart 149.56 -2.2 3.
Walt Disney 110.29 -1.2 -28.Britain£
00 .. 881122 - -yyrnnoottee
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22 .. 733 %%YYYTTTDD%%CChhaannggee
- 99 .. 55 %%
MoneyMarketNatl
00 .. 0088' 21
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Canada$
1 .. 2299CClloossee
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44 .. 0000 %%DOWJONES
EU €
00 .. 99555Yr CD Natl
00 .. 884
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AAmmeerriiccaass CClloossee
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%%CChhgg
- 77 %% ++ 77 %%
BRAZILIBOVESPAINDEX 105134.73 -2.
S&P/TSXCOMPOSITEINDEX 20633.28 -0.
S&P/BMVIPC 49541.81 -3.
- 77 %% ++ 77 %%
30-Yr Fixed mtge
55 .. 4422 %%SS&&PP 550000 IInndduussttrryyGGrroouupSSnnaapsshhoott
IInndduussttryyGGroouupp
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%%CChhgg
- 6600 .. 22 %% CChhgg%% 1 YYr + 6600 .. 22 %%
Oil, Gas, ConsumableFuel 1100 .. 44
EnergyEquipment&Svcs 7 .. 1
DiversifiedTelecomm 55 .. 11
LeisureEquipment&Prod 4 .. 4
CommercialBanks 33 .. 00
PersonalProducts -- 99 .. 00
Textiles&Apparel -- 88 .. 77
WaterUtilities -- 7 .. 7
Internet&CatalogRetail -- 77 .. 66
Metals&Mining -- 55 .. 55BrazilR$
55 .. 100cantorestore stablepricesas
quicklyand effectively as we
can,” FedChairJeromeH. Powell
saidWednesday.“We thinkwe
have agood chancetodoit
withoutasignificant increasein
unemploymentor areallysharp
slowdown.”
Even so,thereare signs of
mountinguncertainty. TheU.S.
economyunexpectedly shrankin
early 202 2,largelybecause of
wideningtradegapsandfalling
inventory purchases. Inflation
remainsat40-yearhighs. And
stockmarket prices —which
skyrocketed to records during
thepandemic—haveplungedin
the pastweek amid renewed
fearsof apossiblerecessionthis
yearornext.
“We’reinaweirdstageinthe
cyclerightnow,whereitisn’t
completelyclearwhatdirection
thingsare goingin,”saidLizAnn
Sonders,the chiefinvestment
strategist at Charles Schwab.
“Obviously,it’saskittishmarket
environment,andwearestart-
ing to seesome softening in
differentways.”
Majorcompanies,including
WellsFargo, havebegunlaying
offworkersinrecentweeks, and
others, includingAmazon,havesaidtheyare overstaffed, further
muddying thejobs outlook.
(Amazonfounder Jeff Bezos
owns TheWashington Post.)
Overall, U.S. employers an-
nouncedmorethan24,000job
cutsinApril, a14percentin-
creasefromthemonthbefore,
accordingto figures releasedthis
weekbytheexecutiveoutplace-
mentfirmChallenger, Gray &
Christmas.
Thelaborforceparticipation
rate—thepercentageofwork-
ing-ageAmericanswhohavea
jobor arelookingforone—fell
to 62.2percentin April,wiping
outtwomonths of steadygains.
“Wedon’t wanttheparticipa-
tionratetogodown,” Labor
SecretaryMarty Walshsaidin an
interview.“We’regoingtoseea
transitionto regularmarket con-
ditionseventually,but wehave a
strong,strongopportunityinour
country rightnowto continueto
addjobs.”
Thelabormarket is still short
1.2millionjobsfrombeforethe
pandemic, althoughseveral sec-
torshave madeupfortherecent
losses.Transportationandware-
housing, forexample,andpro-
fessionalandbusinessservices
bothhaveabout700, 000 more
employees thantheydid in Feb-
ruary 2020.
Restaurants,barsandhotels
arestrugglingtocatchupafter
widespreadlayoffs earlyinthe
pandemic. Theleisureandhospi-
talityindustryhasbeenrapidly
addingjobs,althoughit is still
down1.4 million positions, or
8.5percent ofits labor force,
frompre-pandemiclevels.
“The leisure and hospitality
sectorhasledtherecovery, but
there hasbeensomeslowdown.
Payisnot asstrongasinother
industries,andpeople have been
reluctanttocomebackto those
jobsandstay in them,”saidNela
Richardson,thechiefeconomist
attheADPResearchInstitute.
“That’swhereyouseeboththe
highestjob openingsand the
highestturnover,interms ofquits.”
LouSalameh,who owns1 0
sandwichshopsin Jacksonville,
Fla., saidhecannot findenough
workerstokeepbusinessrun-
ningsmoothly.
He hasstarted closing two
hours early, at 6p.m.,andoften
hastoshutdownpartsofhis
restaurantsevenearlierifheis
short of employees.Hehas raised
wagestoabout$12.50anhour
andbegunofferingweeklyand
monthlybonusestohisstaffof
150 butis stillshort about 50
workers.
“It’sextremely hardto find
helpandevenharderto keep
help,”saidSalameh,whoowns
SheikSandwiches andSubs. “Pay
is at an all-time high. We’re
offering benefitsand bonuses,
butit hasn’t madeadent,tobe
honest. It justfeelsimpossible.”
Although averageearnings
have risen5.5percentinthe past
year, those gains have been
wipedout byinflation, whichis
up8.5percentin thesameperi-
od. That erosion of spending
powerhasbecomeworseinre-
centmonths.
But for manyworkers, the
tightlabormarket continuesto
provebeneficial.
Leah Kush, who lives near
Chicago, recentlyleft her11-year
jobintheradioindustryfora
positionatadigitalmarketing
firm.It allhappenedquickly—
KushappliedinearlyApril, in-
terviewedaweeklaterandre-
ceivedajobofferlessthan 24
hours afterthat.
“Itwas so easythatIwas like,
‘Wow,thiswas meant to be,’” the
41-year-oldsaid.“Ifeel alive
again.”
Kush is making33percent
morethanather last job,where
shehadnothadaraiseineight
years.
“Therewasnoextrapay,but
theykeptpilingstuffonmy
plate,”shesaid.“Finally, in Janu-
ary, Isaid,‘Ihavetofindsome-
thingnew.’AndI’msogladthatI
did.”SPENCERPLATT/GETTYIMAGES
Asign displayed in aManhattan storewindow Friday. Thejob market’s rapid rebound has beenacornerstoneofthe pandemicrecovery,
butthere aresigns of mounting uncertainty.The U.S. economy unexpectedly shrank in early 2022, andinflation remains at 40-year highs.
Source:Bureau of LaborStatisticsvia FRED THE WASHINGTON POST
Seasonallyadjusted
U.S. unemploymentrate
Shareofthe laborforce actively seekingjobs2019 2020
July Oct.OJan. April July ct. Jan. April July Oct. Jan.April
2021 20220
2
4
6
8
10
12
14%
3.6%RecessionBYABHABHATTARAIU.S. employersadded 428 ,00 0
jobsinApril,cappingayearof
solidgrowthandaddingmore
fuelto analreadyrobustrecov-
ery. Theunemploymentratere-
mainedsteadyatapandemic low
of 3.6percent,theLaborDepart-
mentsaidFriday.
Thelabormarkethasadded
morethan6.5millionjobsin the
pastyearandis onpaceto return
to pre-pandemiclevelsthissum-
mer,although economists say
therearesignsthatthisrecord
streakofemploymentgainsis
beginning to moderate. The
number of people workingor
searchingforwork, forexample,
declined by 363, 000 in April
aftersixmonthsofgains.And
thepaceof averagewagegrowth
slowedslightly to0.3percent,
from0.4 percentamonth earlier.
“Thishasbeenanextraordi-
naryjobsrecovery, butthiskind
of growthcan’t lastforever,espe-
ciallynow thatthe unemploy-
mentlevel is as lowasitis,”said
ScottAnderson,thechiefecono-
mistfor BankoftheWest in San
Francisco.“It’sgettingharder to
findfolkstocomebackintothe
labormarket,evenif you’repay-
inghigher wages.”
In April, the biggest gains
were concentrated in leisureand
hospitality, manufacturing,and
transportationandwarehousing
asbusinessestriedtokeepup
withsteadyconsumerdemandforgoodsandservices.
Thejob market’srapid re-
boundhasbeenacornerstoneof
the pandemic recoveryand a
politicalasset fortheBidenad-
ministration, even though the
workforce has remained de-
pressedbyanumberof factors,
includingretirements andcare-
taking.Employerspostedarec-
ord 11.5 million openings in
March—nearlydoublethenum-
berof job-seekers,accordingto a
LaborDepartment report re-
leasedearlierthis week.
Thatcontinuedstrengthhas
empoweredtheFederal Reserve
to takeaggressiveactionto curb
inflation.The central bank
raiseditsbenchmarkratethis
weekbyhalfapercentagepoint,
thesharpestincreasesince2000,
in hopesof coolingtheeconomy
withoutsinkingit into recession.
“WeneedtodoeverythingweMixed-message economy
still churning out the jobs
Unemploymentremains
at pandemiclow of 3.6%;
428,000positionsadded