Just Chill Out About the Jobs Number
Not everything is political. This morning we got a Labor Department report that was essentially in line, an addition of 114,000 jobs, neither here nor there. The jobless rate fell from 8.1% to 7.8%, and hourly earnings were more than expected. We had some nice revisions upward from previous months, showing in particular that the anemic report from August understated job creation.
I am putting all of this data in flat, dry terms, because it is flat and dry. There's not much to it. It's good to see that the jobless rate is below 8%, the lowest it's been since the beginning of 2009, but far worse than it was a half dozen years ago, and it is neither encouraging or discouraging, especially when you have to worry about the upcoming fiscal cliff....473 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.