US loses jobs in September for first time in 7 years

Excerpt below:

Oct 6 (Reuters) – U.S. employment fell in September for the first time in seven years as Hurricanes Harvey and Irma left displaced workers temporarily unemployed and delayed hiring, the latest indication that the storms undercut economic activity in the third quarter.

DAVID KOTOK, CHIEF INVESTMENT OFFICER OF CUMBERLAND ADVISORS, FLORIDA:

“You saw the dollar strengthen – that would suggest to me that in the forex markets there is a notion that the Fed will stay on course, raise rates in December by a quarter point and not be distracted by this month or next month’s report.

“Moving thousands of people to do rehabilitation work during hurricanes, plus what you do to these large state economies (Texas and Florida), means that reading this monthly data is guesswork and speculation. So we say: ‘Ok we don’t know and we won’t get help from the data.’ More (useful) would be information coming from state specific reports because there you can look at the states unaffected.”

Read the full article at the Times of India


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.