WrapManager's Wealth Management Blog
When life changes, we can help you thoughtfully respond.

How Jobs and Financial Markets Intersect

Posted by Michael J. O'Connor | CWS®, Vice President Investments

July 11, 2018

How important are jobs and the unemployment numbers to financial markets? So important that strict rules were put in place over 30 years ago in an effort to prevent the numbers from being prematurely released to the public.

Generally speaking, the only people with access to the numbers – before their official release – are the staff of the agency issuing the data, and the President of the United States and his executive team. Since the jobs numbers are considered “market-moving data,” it makes sense that the data should be treated, in a sense, like insider information.

Here’s how it works: The Bureau of Labor Statistics (BLS) releases its monthly employment report on the first Friday of the month, at 8:30 AM. But the night before, the president and several senior administration officials — including the Treasury secretary and the chairman of the Council of Economic Advisers — are briefed on the numbers. By rule, no one can discuss the numbers at all before the official release at 8:30 AM. In fact, the data is considered so sensitive that staffers are supposed to wait until a full hour after the release to make any public comments about it. 

[+] Read More

Retirement Planning Investment Planning 529 Plans

Plan Now for Education Later: 529 College Savings Plans

June 29, 2017
With the cost of education continuing to rise, and the requirements for minimum workforce entry showing no likelihood of decreasing the ... [+] Read More

Are You Sacrificing Retirement Savings for College Expenses?

November 30, 2016
If the answer is “yes,” you are among the 67% of parents who said that saving for their kids’ college education is more important than ... [+] Read More

7 Things You Should Know About 529 Plans

November 17, 2016
Let’s start with the basics: what is a 529 Plan? Many investors may already be aware, but in layman’s terms, a 529 plan is a state or ... [+] Read More

Gifting Rules Associated with 529 Plans

November 7, 2016
In a recent post on 529 plans titled, “Helping You Understand the Basics of 529 Plans,” we discussed some features of 529 plans work and ... [+] Read More

Helping You Understand the Basics of 529 Plans

November 3, 2016
529 plans are college savings plans sponsored by state or educational institutions. Congress created them in 1996 to provide a ... [+] Read More