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.
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