For example, the report released on Friday said there were 195,000 fewer people working in July than in June. That’s why the unemployment rate increased to 8.3%. There are two different types of reports on unemployment. One is called the establishment survey, which is derived from a poll of businesses. That’s where we get the number of new jobs that were created netted out by the number of jobs created (or lost) by the government.
 
The household survey is where we get the unemployment rate. The number of people working comes from this survey and that’s where the 195,000 less people working comes from in the July report. The establishment report counts the number of jobs; the household report counts the number of people working.
 
Over the long term, the two reports pretty much run in tandem. But they can be different on a month-to-month basis. The Department of Labor (DoL) has its own measure which aims to follow the establishment report. The DoL subtracts the types of workers not included in the establishment survey and adds multiple jobholders.
 
So the DoL survey could include farm workers suffering from the severe drought. These workers would not be counted in the establishment survey. So the DoL reports number showed that jobs increased by 108,000, not 163,000.
 
The fact that people were working multiple jobs just to make ends meet distorts the establishment report because there may have been more jobs created but not more people working.
 
Understanding how these reports are generated as well as how they figure into the long-term trend can offer you a truer picture of job growth and how well—or poorly—the economy really is doing.

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With classes approved for over a decade by the CFP Board, IWI, and NASBA, Advisors4Advisors CE classes are an optimal knowledge stream for CFP®, CIMA®, CPA, CPA/PFS®, CFA®, and other practitioners. It's not a grab bag of speakers willing to sponsor CE content. Nor is it a one-man CE course. It's a group of subject matter experts with amazing communication skills and a history of thought leadership that, together, give advisors a well-rounded knowledge system for running a professional practice ethically and intelligently.

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A4A CE classes for financial professionals began in October 2008, the week Lehman Bros. collapsed. Initially billed as “The Financial Crisis Webinar Series,” A4A connects advisors with authoritative sources on investing, tax, and financial planning, chosen by A4A Editor Andrew Gluck, a veteran financial reporter. A4A members get a stream of CE classes for an advisor who: 

  • holds a CFP®, CIMA®, CPA, CPA/PFS, CFA or other designation requiring CE annually 
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  • diversifies a core of client portfolios in low-expense funds
  • invests based on MPT and economic fundamentals
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It is not possible for me to overstate the cumulative value that Craig, Bob and Fritz have added for over 10 years to my investment advisory practice, as well as for personal and family financial planning. A4A gets my highest recommendation
Lynn Najman, CFP®
I’ve subscribed to A4A since its inception, and always find it intellectually stimulating and on point. It’s one of the few CE solutions out there that doesn’t waste my time by pushing product or talking down to me.

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Pete Deacon, CPA, CFP®
A4A has had a profound effect on my business. Since 2009, I’ve relied on the consistent messaging and updates to run my business successfully. Being able to present the information from Bob, Fritz, and Craig's ongoing CE webinars has been a significant benefit.

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Fredric Mayerson, MBA, PhD, CFP®
I've been a financial professional and professor of finance for 35 years and find Fritz Meyer and Robert Keebler to be among the most engaging, incredibly knowledgeable, and experienced presenters I’ve encountered. They deliver an extraordinary amount of information in an extremely interesting way — sequentially and developmentally, utilizing pedagogical tools and techniques that few possess.  A4A to is the most consistently excellent CE program available.  
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I’ve been attending A4A many years because the CE classes are outstanding, and my time is valuable. Though I have over 35 years of experience, I’m always learning something new on A4A. I attend fewer conferences now because the CE is generally not advanced. If you want to learn from the best, in a faster, easier, and less expensive way, I highly recommend A4A.

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I’ve been a member since 2011 and never miss the monthly webinars with Fritz Meyer. I appreciate Fritz’s independent views on the economy and markets and Bob Keebler keeps me updated on excellent tax planning ideas. A4A is a great value!

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Norman Politziner, CFP

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A4A, for over a decade, has been a great resource for useful and accurate information and CE. A4A and Advisor Products are bargains for an advisory practice. 

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Kevin Brosious, MBA, CFP®, CPA/PFS®

I get CPA CE credit and CFP credit for the webinars.  But not only that, the A4A content is terrific