Don't Get Trapped by Confirmation Bias When Reading November Jobs Data

The upcoming employment report is set to move markets—but here's the catch: investors often cherry-pick data that confirms what they already believe. If you're bullish, you'll spot positive signs in wage growth and labor force participation. If you're bearish, headline unemployment numbers will validate your pessimism.

Neither approach is reliable. November's jobs data cuts across multiple metrics—payroll growth, unemployment rate, wage trends—and they don't always tell the same story. The market's reaction will depend less on pure numbers than on what narrative traders decide to amplify.

For those tracking macro trends and their ripple effects on risk assets, staying objective matters. Strip away preconceived notions. Look at the data holistically. That's how you avoid being blindsided when markets don't move the way your bias predicted.