It's a BIG day!
The Jobs Report is issued today, the first Friday of the month. And, like a gypsy who peers into her crystal ball for a glimpse of the future, we look at these numbers as indicators of the health of the economy.
What says the report?
The Bureau of Labor Statistics reported that 215,000 jobs were created in March, up from the 205,000 expected.
So, I ask you: good news or bad news? Sounds good. Broke expectations.
It might be weird, but I can't wait for the jobs report to come out. Why? Because it's so much fun to dive into the numbers and to come up with different (and usually deeper) interpretations that you will find in the media.
Here's one of today's headlines:
Huffington Post - America Just Turned In Another Stellar Jobs Report
"Jobs are growing in places where machines can't (yet!) do the work: America's growing industries are construction, health care and retail."
Me: America Just Turned in A (Less Than) Stellar Jobs Report
New retail jobs (47,700) and health care (44,000) make up about 50% of the new jobs created. And, they are some of the lowest paying jobs. So, 50% of the market growth is in low paying jobs. Professional white-collar jobs are still hard to get, while hourly work is on the rise. Is that REALLY good news?
You have to look below the numbers and ask questions.
Think for yourself.