≈ Just Over Broke Statistics ≈
Every month, the Bureau of Labor Statistics releases their Unemployment Rate and report. This report details the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.
The numbers have been impressive. And, they’ve been impressive for a long time. The unemployment rate has been dropping since its peek in 2009. The rate has been below 4% for over a year, and yet most workers still don’t have significant savings, substantial investments or financial knowledge on how to invest.
A job is something that most of us need. But, a JOB is not something that’s going to be enough to provide financial freedom. Robert Kiyosaki famously called a job a J.O.B. which stood for Just Over Broke. Seeing statistics from the labor market, where many people are working, and the unemployment rates are at record lows, might impress some people.
It doesn’t impress this writer. It reminds me, that most workers have been pulled into careers that they don’t want and are failing to get ahead substantially. While the unemployment rate is at record lows, so are the savings rates and financial training continues to be lacking in most groups.
As you read the headlines today and think about how you’re building your investment portfolio, your skills and financial knowledge, remember that a job will enslave you, but true knowledge will empower you.
If you build the proper skillsets, embrace the proper mindset, and position yourself to profit in any market, you won’t need to be a part of the job market. If you love your job, great! If you don’t, go out and give yourself the opportunity to do what you want by building skill sets that allow you to transcend market conditions and the labor market.
Chart of the Day
UNEMPLOYMENT RATE
Video of the Day
ROOKIE CORNER – THE Next Step
Coach Greg Holmes talks about the scary thing that have been happening in the market for the past weeks.
Today’s Lineup
OPTIONS THEORY
The Old Legging Out Trick
When markets crash, tactics that used to work don’t and those that used to not work do. But before you go hog wild embracing these once-unfavorable-but-now-favorable techniques, you need to recognize something. Once the world turns right side up again (and it will) these seemingly smart ideas will become stupid once more.
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cashflow Club Replay
If you missed last night’s episode where Coach Tyler talked about using intraday time frames to trigger into trades or would like to watch it again, check it out here.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Market Recap 4:30pm EST
The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.
