But the performance of these initial strategies lagged, and the approach has been modified. The discipline, originally known as Socially Responsible Investing, focused at first on excluding companies that conducted business in South Africa, or participated in industries such as tobacco, alcohol, and firearms. As assets have flowed in over the past 40 years, Sustainable Impact Investing has evolved. He doubled down in his January 2021 letter, calling on company managements to disclose their plans for making their businesses 'compatible with a net-zero economy' by 2050. In January 2020, BlackRock CEO Lawrence Fink, who oversees approximately $9 trillion in assets, announced that his firm would be investing in companies that are making progress on sustainability. Sustainable Impact Investing is gaining traction with the global investment community. We expect the unemployment rate will remain above 5.0% - and thus the Federal Reserve will keep interest rates low - into 2022. Though trending in the right direction, the data indicates that the employment environment is still under stress. The number of people filing initial unemployment claims each week remains above 350K. The labor force participation rate remains low at 61.7%, edging up from 61.6% in June as more people look for work the historical average is 65%. Still, the economy added 1.9 million jobs in the past 60 days, a positive trajectory.

Heading into the payrolls report, the number of jobs was approximately 7 million lower than the pre-COVID level. The prior two months featured strong upward revisions, with May growth at 583,000 jobs and June at 938,000. Industries including professional and business services also added jobs. The re-opening trend continues to drive growth, as jobs gains were led by sectors such as leisure and hospitality (380k) and local government education (221k). The gains in hours and workweek put more money in the pockets of all workers, not just new hires. Average hourly earnings were up 0.4% and the average workweek rose 0.2%.

The unemployment rate dropped by a half percentage point, to 5.4% from 5.9%. Even more impressive were trends in unemployment and overall income. economy added 943,000 jobs in July, better than the 875,000 consensus and a sign that economic recovery continues despite the Delta variant. Daily Spotlight: Strong Growth in Wages and Hours

Amazon long term forecast