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Friday, January 04, 2013

US economy adds 155,000 jobs, (revised) rate stays at 7.8 percent

US economy adds 155,000 jobs, (revised) rate stays at 7.8 percent

Yes, this will sound like a broken record, but it must be said:

The best thing about these monthly reports now are that they don't carry the incredible political baggage they had been. The Wall Street Journal recently said the first jobs report after the election was the least important in 5 years. It meant that only in a political sense, not an economic one. Each of them is an important data point for the health of the economy.

Hopefully now, moving forward, we can just digest the numbers and hope they get better every month because each of us wants more people to become employed. We should celebrate when the market strengthens and be disappointed when it doesn't. This month's report seems to suggest that the initial weekly jobless claims numbers may have been fairly accurate after all, even given all of the factors that cloud them this time of year, and that the jobs market is still growing, slowly.

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