Going Beyond Jobs Numbers Noise

The monthly jobs numbers matter much less than the trends.

The work at hand.

Photographer: Paul Thomas/ Bloomberg

I keep telling investors to ignore the monthly frenzy surrounding the monthly jobs report (see thisthis and this).  It isn't significant for their holdings, at least not in any actionable way. By the time we know for sure that the economy has accelerated or slowed, stocks will have long since reflected this in earnings and then prices. It is only partially a joke to note that economists are often the last to know. 

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