YOU ARE INVITED to Klaas Financial’s Charity Golf Event benefiting Patriots’ Gateway Community Center to be held on May 31, 2013 at Aldeen Golf Club in Rockford, IL.  For more details and to register click HERE.

The US markets were down last week on an unexpectedly poor March jobs report.

On Friday of last week the nonfarm payroll report showed a surprisingly weak March jobs report. The meager 88,000 gain (compared to 268,000 in February) was the smallest monthly gain since June 2012 and was among the very smallest of the entire recovery. The weak report has economists worried the sequestrations are already hitting the economy. While the national unemployment rate dropped from 7.7% to 7.6% in March, analysts are saying the decline occurred due to a drop in the labor force participation rate.

Housing continues to be one of the brightest spots in the overall economy. Construction spending increased 1.2% in February. On a year-ago basis, overall construction spending is up 7.9% in February.

Due to the weak jobs report gold and oil prices were volatile last week. However, both prices have remained in check over the past few months with gold ending the week around $1,580 per ounce and oil ending near $93 per barrel. Gas prices around the country have remained fairly steady over the past few weeks but are still causing consumers “pain in their pocketbooks” as they gear up for spring shopping.