Happy Friday! Brian Manning here with the weekly update. So, we did an earlier update this week because there’s just so much going on in the world. So, we did an update on Tuesday. Just talked about what’s happening last weekend, Monday, Tuesday. So, I’m going to pick up right now from Wednesday. So, Wednesday, we just saw oil prices to continue to rise, just adding further inflationary pressure, which certainly we don’t need right now. But that’s definitely what’s taking Also, Wednesday, we’ve got the ADP. So… So, first Wednesday of every single month, we get employment reports. The first Wednesday we get ADP. ADP is the largest provider of private payrolls in the US. And for the month of February, private payrolls grew by 475,000 jobs, definitely stronger than expected. Expectations were 400,000 jobs. So, good to see really robust continued employment there.
Thursday, we had continued oil prices rising. Thursday, we’re at $113 a barrel. The question right now is, you know, can we go to 130,140, 150? Not that we want to see this, but is that really the direction that we’re heading? And unfortunately, we probably are moving up towards higher prices. But… definitely Russia Ukraine situation, pushing pressure onto oil. Then, coming into today, really news from last night jolting the markets, which was Russia seizing Ukraine’s nuclear power plant. Certainly, that jolted all the stock markets and there’s a flight to safety. So, you’re seeing money leave the stock markets and move to bonds, which is having a positive impact on interest rates. It’s helping lower interest rates, you know, unfortunately, not for the right reasons. But there is an impact there because stock markets are just generally nervous right now.
And then today we get the BLS. So, the first Friday of every month, we get employment reports from the Bureau of Labor Statistics. Also like the ADP, they expected 400,000 new jobs to be created in the month of February. And we had 675,000 new jobs. So… a really strong employment report there. Also, the unemployment rate went down to 3.8%. But the weirdest thing of this report was the hourly earnings. So, hourly earnings for the month of February remain flat. And it’s just so strange. No one can figure out how or why hourly earnings stayed flat. Certainly, everyone’s just scratching their head, wondering what’s going on, because that’s a very weird data point to get back at this point in time. And, you know, that would have been the inflationary component of the report. So… we’re just not really sure why that remained flat.
Let’s see! Community Food Share. So, we’re doing our Community Food Share drive right now. Community Food Share is a local non-profit. They distribute food to the community in Boulder and Broomfield County. We have 46,000 people here with food insecurities. So… you know, the amazing thing about Community Food Share is $1 buys $5 worth of groceries because they are buying at a wholesale level. So, if you could be part of this and you want to donate even $5, it’s impactful for our goal is to raise $5,000 between now and June 1st. Happy Friday. I’m around all weekend. If you have any questions, let me know. If you want to go through our strategic buyer consultation, give me a call. We’re closing purchase transactions in 18 days right now. Also, our jumbo rates are ridiculous. We’re crushing everybody on jumbo rates. So… if you have any questions, call me, text me. I’m around available seven days a week. Happy Friday. Have a great day.