Investment Updates
How Misperceptions Spread And Cause Confusion On Money Matters
Published Friday, March 8, 2019 at: 7:00 AM EST
U.S. jobs data triggered fearful headlines on Friday. It's a cautionary tale of how misperceptions spread in an instant and cause mass confusion about money matters.
From The New York Times to specialized news outlets, like The Street, headlines were uniformly grim after the jobs data was released by the government on Friday morning.
The bad report showing that just 20,000 jobs were added by the economy in February was likely an aberration. The blue bar chart in the lower-right indicates the drop in new job creation occurred largely due to a plunge in construction jobs, which was caused by bad weather across the country. Construction hiring plunged, suffering a net loss of 84,000 jobs in February. This helped trigger the bad headlines, but job losses in construction of this magnitude happen once in a while. The last net loss of jobs in construction occurred in 2016.
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