Today’s, and This Week’s, Jobs Numbers Offer Good News

Screen Shot 2013-06-06 at 9.30.34 PMToday’s jobs report was supposed to be the “most important in years.” But if I’ve learned anything from watching and reading so many years of monthly-jobs-report commentaries, it’s not to get too worked about any one month of these things. Three-month averages, perhaps.

Nonetheless, it was good to see the economy meet and slightly exceed expectations, as this morning’s numbers from the U.S. Bureau of Labor Statistics showed an increase in 175,000 jobs. The expectation was for about 165,000-170,000. The unemployment rate was up but just slightly, to 7.6 percent. Last month’s numbers were revised downward slightly.

The upshot of all this is that the jobs news is not off-the-charts wonderful, but pretty good.

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That has been the story throughout this week, if you had to look at all the data coming out and draw conclusions. The ADP report this week was a bit underwhelming. So was Gallup’s data that “fewer people worked full-time for an employer this May compared with a year ago.” But, other recent reports are mildly optimistic:

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2 Comments on “Today’s, and This Week’s, Jobs Numbers Offer Good News

  1. Thanks Todd. Two additional indicators wo watch are average weekly hours worked and average hourly wages…

    -kh

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