By the Numbers for December 2022
Pension risk transfer activity
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Funding ratio of S&P 500 pension plans
Trailing 12-month returns by asset class
| 2022 | |||||||||||
| January | February | March | April | May | June | July | August | September | October | November | December |
|---|---|---|---|---|---|---|---|---|---|---|---|
| S&P 50023.3% | S&P 50016.4% | S&P 50015.6% | Real Estate0.7% | Cash0.1% | Cash0.2% | Cash0.2% | Cash0.4% | Cash0.6% | Cash0.8% | Cash1.1% | Cash1.5% |
| Real Estate18.1% | Real Estate10.6% | Real Estate12.2% | S&P 5000.2% | S&P 500 -0.3% | BB U.S. Agg-10.3% | S&P 500 -4.6% | High Yield -10.6% | High Yield-14.1% | High Yield-11.8% | High Yield-9.0% | High Yield-11.2% |
| MSCI ACWI ex-U.S.3.6% | High Yield0.6% | Cash0.1% | Cash0.1% | Real Estate -5.2% | S&P 500 -10.6% | High Yield-8.0% | S&P 500 -11.2% | BB U.S. Agg-14.6% | S&P 500 -14.6% | S&P 500-9.2% | BB U.S. Agg -13.0% |
| High Yield2.1% | Cash0.0% | High Yield-0.7% | High Yield-5.2% | High Yield -5.3% | High Yield-12.8% | BB U.S. Agg-9.1% | BB U.S. Agg-11.5% | S&P 500-15.5% | BB U.S. Agg-15.7% | MSCI ACWI ex-U.S.-11.9% | MSCI ACWI ex-U.S. -16.0% |
| Cash0.0% | MSCI ACWI ex-U.S.-0.4% | MSCI ACWI ex-U.S.-1.5% | BB U.S. Agg-8.5% | BB U.S. Agg-8.2% | Real Estate-13.5% | Real Estate-9.8% | Real Estate-16.6% | Real Estate-22.4% | Russell 2000-18.5% | BB U.S. Agg-12.8% | S&P 500-18.1% |
| Russell 2000-1.2% | BB U.S. Agg-2.6% | BB U.S. Agg-4.2% | MSCI ACWI ex-U.S.-8.5% | MSCI ACWI ex-U.S. -12.4% | Global ex-U.S. fixed income -18.8% | Russell 2000 -14.3% | Russell 2000 -17.9% | Russell 2000-23.5% | Global ex-U.S. fixed income -24.6% | Russell 2000 -13.0% | Global ex-U.S. fixed income -18.7% |
| BB U.S. Agg-3.0% | Russell 2000-6.0% | Russell 2000-5.8% | Global ex-U.S. fixed income-15.5% | Global ex-U.S. fixed income -16.7% | MSCI ACWI ex-U.S. -19.4% | MSCI ACWI ex-U.S. -15.3% | MSCI ACWI ex-U.S. -19.5% | Global ex-U.S. fixed income-24.8% | MSCI ACWI ex-U.S.-24.7% | Real Estate-16.9% | MSCI EM -20.1% |
| MSCI EM-7.2% | Global ex-U.S. fixed income-7.1% | Global ex-U.S. fixed income-7.9% | Russell 2000-16.9% | Russell 2000-16.9% | Russell 2000 -25.2% | Global ex-U.S. fixed income -18.5% | MSCI EM -21.8% | MSCI ACWI ex-U.S.-25.2% | Real Estate-24.7% | MSCI EM-17.4% | Russell 2000-20.4% |
| Global ex-U.S. fixed income-7.9% | MSCI EM-10.7% | MSCI EM-11.4% | MSCI EM-18.3% | MSCI EM -19.8% | MSCI EM -25.3% | MSCI EM -20.1% | Global ex-U.S. fixed income -22.0% | MSCI EM-28.1% | MSCI EM-31.0% | Global ex-U.S. fixed income -19.8% | Real Estate-23.6% |
Job market still robust, thanks to small and midsize employers
Change in U.S. private employment
Change in U.S. private employment in December, by business size
Median change in annual pay
Sources:P&I Research Center; NISA Investment Advisors; Bloomberg LP; ADP Research Institute