Umeployment down to 9.7%

[Swing low, sweet chariot. Comin' for to carry me home.]

conflicting reports today....a net job loss was reported, but the much wider survey that calculates the % unemployment showed a 500k net job gain.

other positives were an increase in temp hiring and an increase in the length of the work week.  also, several companies announced a resumption in their stock dividends.

[Swing low, sweet chariot. Comin' for to carry me home.]

Look folks, when the number of employed doesn't increase by at least 200,000 in a month, you should not believe a reduction in the unemployment rate is anything more that statistical noise (at best).

there are two separate surveys reported here, folks.  The narrow survey measured a loss of 20k jobs, the much wider survey measured a gain of 500k jobs, hence the drop to 9.7% (the unemployment rate is based off of the wider survey)...so there is plenty of fodder for both sides of the argument.

but, more undeniable is the fact we did have a gain in the average workweek and a pickup in temp hiring, both of which point to employment gains in the coming months.

so, on balance, I think the sum of the reports were mildly positive.