The Department of Labor (DOL) enforces federal labor standards, promotes workers’ rights and reports on various economic data. Investors rely on DOL reports to strategize investments and safeguard against current or projected economic conditions.
The U.S. Department of Labor is a federal agency responsible for protecting workers’ rights, safety and benefits by enforcing labor standards. The cabinet-level agency was first formed in 1913 and is headed by the Secretary of Labor.
The DOL states that its multi-part mission is: “To foster, promote and develop the welfare of the wage earners, job seekers and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.”
Under this mission, the DOL administers federal labor laws and handles violation complaints. Among other duties, the agency:
Under this umbrella, the Department of Labor enforces over 180 federal labor laws. These include workers’ compensation and benefits, workplace safety, unions, veterans’ rights and parental and medical leave (FMLA).
The Department of Labor heads several “daughter” agencies that carry out specific tasks. These include the:
The Department of Labor also plays a unique – and vital – role for investors.
Due to its wide-reaching oversight, the DOL’s BLS is well-positioned to collect, analyze and report on employment-related trends and data. It regularly releases reports like the:
Investors can use this information to make investment decisions, follow trends or adjust portfolios for predicted future conditions. As such, it’s common for financial markets to jump or slump when the BLS releases a particularly shocking report.
Long-term, these insights – alongside essential workplace policy decisions – can greatly impact your portfolio’s performance and wealth-building plans.
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