February 12, 2024 Investor Insights
Layoffs Aren't Just for Bad Times
February 12, 2024
Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions.
- Large corporations are increasingly using layoffs as a standard operating practice that can be used even when there is no recession. An astounding 58% of the Fortune 100 companies announced layoffs last year, and another 5% announced job cuts in the first month of 2024. 1
- A recent survey found that 46% of American adults and 58% of people earning more than $150,000 per year would pass on debt to their loved ones if they died today. Of those who said their loved ones would inherit their debts if they died, 21% had no life insurance. 2
- This January, the stock market rose 1.6%. Since WWII, when the S&P 500 has risen by at least 1.5% in January, its median yearly performance has been a 13.4% gain, with positive returns 82.5% of the time. *2
- Used car prices have fallen 21% from their all-time high in December 2021, and data shows that the value of a used Tesla has dropped 49% from a high of $67,900 in July 2022 to $34,883. 2
Sources
- Bloomberg Opinion - "Layoffs Are Now an Ingrained Part of the Economy"
- MFS - "Beyond the News"
*Past performance is not indicative of future performance
Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.
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