Labor Day got its start in the late 1800s as a federal holiday celebrated on the first Monday in September to recognize the contributions of laborers to the achievements of the United States. Yet, you’ve probably noticed that there is a labor shortage these days. Your favorite restaurants and local stores are struggling with service and maybe even changing their hours due to staffing shortages.
*According to CNBC there are more than 10 million open jobs in the U.S., the highest level ever, and over one million more jobs than unemployed people. (Aug 10, 2021) But, one thing there is no shortage of are headlines telling you how you should change your investment strategy to either take advantage of this shortage or protect yourself against it. Should you be jumping on the bandwagon for the next hot stock tips or should you be hiding your investments away from labor driven businesses? Unless you are clairvoyant you may not know what to do, however, that may also be true of the “tv-talking-heads” as well. A diverse and balanced portfolio with your financial goals in mind may in fact be the right move versus the fear of the unknown.
If you have concerns about the labor shortage and your investment portfolio, please contact us today to discuss!