The Bureau of Labor Statistics released their pre scheduled Friday News Dump today. The report showed 175,000 jobs added, beating analysts’ expectations. They will likely promote this report but it is unclear how much. The unemployment rate actually rose from 6.6% to 6.7%.
Employment/jobs reports need to be upgraded to include a more accurate picture. Currently the unemployment rate only includes people actively looking for a job while after an extended period of time many give up looking or fall off the radar but need want and or need a job. The report should reflect all able bodied adults prior to a retirement age who are not employed.