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The Jobs Report Bad News

Michael3624 Wrote: Aug 03, 2012 7:18 PM
Hopey and Changey is working really well huh.
Stocks loved today’s jobs report, rising well over 200 points at this writing. But equities may be suffering from a certain irrational exuberance. Yes, nonfarm payrolls rose by 163,000 in July. That’s better than the prior two months and probably signals no double-dip recession -- at least for now.
But there are a lot of negatives in this report.
For one, the small-business household survey dropped 195,000. That’s what drove the unemployment rate up to 8.3 percent. These two factors virtually cancel out the better-than-expected rise in nonfarm payrolls.
By the way, the labor force shrunk...
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