Ah, the first Friday of the month. That can only mean one thing: the Employment Situation report. What will it tell us about the strength of the US economy? Are employers adding jobs, or cutting them? Is the American worker making more or less money than they were? Oh, the data embedded in the roughly 40 page report! And how the investment industry analyzes the stew out of it! Two words: good times.
I don’t know how many folks work on compiling, sorting, and formatting all the necessary data, but it must be an army. Even so, no matter how tight the process, the best they can generate is a best guess. There is no possible way to adequately canvass 300 million individuals and umpteen different employers each month. Well, I suppose there is, but it would cost way too much money, and that wouldn’t be fitting when we have pensioners checks to cut and countries to occupy.
Even so, one day it will be mostly automated, if it isn’t already…Read On…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.