As investors eagerly await tomorrow’s jobs report, I’ve been busy going through quarterly earnings reports and conference calls to form my macro opinion — independent of government data. While my review is far from complete, as it relates to the job market, I’m again observing growing signs of a tight labor market and wage pressure. Regardless of the jobs report tomorrow, my opinion of the labor market will remain dependent on what businesses are reporting, not the government.
[REITs]In addition to reviewing the operating results of hundreds of small cap businesses, I noticed a few other signs (literally) of a tight labor market this morning. As I was stuck in traffic, I took a few pictures. This three mile stretch on A1A was filled with “For Sale and For Lease” signs in 2009. Today, those signs have been replaced with “Help Wanted” signs.
Have a wonderful jobs report Friday! I won’t be tuning in. Instead I’ll be going through earnings reports and learning more about the economy in real time. I should have a summary, along with supporting data, in a couple weeks.
Article by Absolute Return Investing with Eric Cinnamond
