Making Sense of Seemingly Inconsistent Numbers

Gail Maidenbaum, MBA September 15th, 2021

It can be incredibly difficult to make sense of data. A report coming from one body may tell you one thing, and another report might seem to offer a wholly different perspective.

Such is the case with August’s jobs numbers from the Department of Labor. There was a vast difference between the number projected in surveys of economists (720,000) and the number we received: a 235,000 increase for nonfarm payrolls. Adding to the confusion, the unemployment numbers dropped in the same period: from 5.4% to 5.2%.1

You might be better versed in these matters than the average person. For example, you might understand that these numbers are calculated differently, and with totally disparate factors considered. That accounts for how unemployment can decrease, yet jobs numbers come in so low.

To make matters more confusing, the Department of Labor and other groups measure employment in other ways. For example, ADP puts out a monthly report while the Department of Labor also releases a weekly report on unemployment insurance claims.2

Wise investors take the longer view, understanding that while these numbers do affect and reflect the markets, they don’t always represent the full picture. By investing in a strategy that takes years to play out, you know that the economic “big picture” isn’t a snapshot, it’s an epic film.

As a client of Concord Custom Wealth Group, you have someone who thinks in terms of the big picture in your corner. We’d be happy to talk you through any questions you might have.

1CNBC.com, September 3, 2021
2adpemploymentreport.com, September 7, 2021

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. Investment advisory services are offered through Concord Wealth Partners, an SEC Registered Investment Advisor.

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