Hurricane Ian Notice

Due to the impending Hurricane Ian and its impact on the Sarasota area; Cumberland Advisors has mobilized and relocated our disaster recovery team to our Vineland, NJ office. If the storm does affect the Sarasota area, Cumberland Advisors’ staff members are on standby, and ready to provide you with any assistance you may need.  Our phone lines and emails will be monitored, and we will respond to matters on a priority basis.
 
For any urgent concerns you may also contact the following individuals by email directly:

For our clients residing in the Sarasota area, Cumberland Advisors knows nothing is more important than the safety of you and your family. We urge you to take the necessary steps to protect your loved ones. Check your supplies and make sure you have plenty of fresh water, flashlights, and a battery-operated radio. Cumberland values our customers’ security and peace of mind, and our goal is to provide outstanding service.
 
Thank you for entrusting us to continue to provide you service and may all stay safe.

 

Excerpt from:

ADP: Employers Added 692,000 Jobs in June

By Tim Smart | June 30, 2021

David Kotok featured in U.S. News & World Report

 

The ADP report is the first of three this week that will gauge the health of the nation's labor market and whether jobs are being recovered from the carnage inflicted by the coronavirus pandemic. Thursday will bring a reading on the weekly new claims for unemployment insurance while Friday brings another monthly jobs report from the Labor Department.

“In addition, we have a two-year drop in American life expectancy, 1 million excess deaths, and 3.5 million long-haul COVID disabled," says David Kotok, chairman and chief investment officer at Cumberland Advisors. "Is it any wonder why labor costs are rising and there are not enough people to fill the job openings."

"We expect continued growth in labor force income," Kotok adds. "That income will become spending. The country is short 10 million people of working age and inclination. Unless politicians who made policy over the last few years alter their views (not likely), tight labor markets and rising labor costs are destined to continue."

Read the full article here:

https://www.usnews.com/news/economy/articles/2021-06-30/adp-employers-added-692-000-jobs-in-june


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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.

David R. Kotok
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U.S. News & World Report