This month's jobs report was pretty positive. Let's take a deeper dive into the data.
Private forecasters don't usually produce better data than the Bureau of Labor Statistics. But since the financial crisis hit, one forecaster has beaten the BLS on its own turf.
Take Friday's report with a grain of salt. If the recovery to date is any indication, the 114,000 number is probably too low.
Today's job report was pretty fantastic. Let's break it down.
I noticed a fair amount of confusion this morning as to whether this was a good or a bad jobs report. That's understandable. These things are really, really hard to read. So let's spend a few minutes reading this one.
This morning's jobs report was awful. Unemployment went down from 8.3 percent to 8.1 percent, but nonfarm payrolls only increased by a dismal 96,000, with another 40,000 jobs lost in revisions of previous months' figures.
Today's jobs report was grim, to say the least. How grim? Let's take a look.