Another month, another “unexpected”.
This is soooo bogus. A month or two of very small “increases” are invariably followed by a month or two of equal or greater losses. The job picture has been flat for the last 5 years and these very small bumps un and down are nothing but statistical noise. The unemployment figures are completely manipulated by the changing of the definition of “unemployed”. If one figures in the record lack of job market participation (people not working but not considered “unemployed”) then the unemployment rate would be triple what they are reporting now.
This morning, ABC Radio News, after noting that the numbers were less than anticipated opined that the numbers would probably be greater when they are updated.
There... doesn’t that make you feel better that good news in just around the next manipulation.