The new jobs report came out today showing that the unemployment rate stayed steady (not a great indicator of labor market conditions) but that net new jobs created were very healthy (a good indicator). It looks like the recovery is picking up steam. And that is good.
U-6 is still very high at 14.9%
Why would anybody believe any of that b.s.?
A better example of the monthly effect of global warming would be that jobless claims fell to a seasonally adjusted 362,000 last week (Page 1, today’s WSJ). All of those seasonal adjusters had better plug in new numbers on their Excel spreadsheets, and while they are at it, factor in the radiation coming Sunday morning, when we go on daylight saving time, when we lose a whole hour of solar radiation in the District of Columbia.
By the way, jobs created means people added on Form 940. This is an encouraging sign, as Wintercow suggests.
