Upon Further Review
The buzz in the markets today is that the employment numbers don't jibe with other economic indicators look manufacturing output etc. The the separate "household survey" of employment showed a 629,000 gain in employment and 577,000 new entrants to the labor force, reducing the unemployment rate to 5.5%, more consistent with recent consumer confidence readings. Total hours worked recovered modestly, up 0.3%, and average hourly earnings rose 0.3%. Also I believe that the jobs number is + or - 290,000 with a confidence interval of either 90 or 95 percent. Back to the conundrum of what the conflict between the "non farm" payroll number and "household survey" numbers" and what they truly mean. Bond market rally has eased off a little due to the "household survey."
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