Economy: One Month Is No Trend | 101 KXL

Economy: One Month Is No Trend

Written by Steve Leader on January 10, 2014
Economy

Two days ago, payroll processor ADP said businesses added 238-thousand jobs in December.  Today, the U.S. Labor Department reported just 74,000 jobs were created last month. Huh?

Tyler SimonesTyler Simones, with Northwest Quadrant Wealth Management in Bend, says “a month’s data point is hard for us to go on.”  He adds– “this recovery certainly has been a lumpy one. The data usually doesn’t go in one direction or the other.”

Simones expects the government’s December jobless report will be revised upward, but not significantly.   He says the best way to look at all employment data is to do a 4 month rolling average.

Another important indicator for Simones is the weekly jobless claims report released on Thursdays. He says the number of claims is a good  indicator of which way the unemployment rate is headed.

Photos: courtesy Associated Press, NW Quadrant Wealth Management

Posted Under: Business News, Local Headlines

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