165,000 jobs is relatively poor, about half the number of new jobs we’d need to turn things around for the better.
The problem is that the “true” unemployment rate continues to increase (now acknowledged to have gone up to 13.9% per the BLS). The labor participation rate is the lowest it has been in decades, and it ain’t getting any better what with the administration’s anti-jobs, anti-business policies.
Many of the “new” jobs mentioned in the (deliberately misleading) headlines are in fact just part-time gigs replacing former full-time positions. Indeed, these account for MORE than the reported net number of “new jobs” — 278,000 new part-time situations (meaning that the number of full-time jobs went down, not up).
Note also that this is reflected in the average number of hours of employment per worker, down another 2 hours. (All this while the average wage level continues to erode, go down, too.)
The labor participation rate is the lowest its been in 35 years!!!!!!!!! Sorry, but this is a disaster, not a “favorable jobs report.”