Good, Better, Best...The August Edition...

[exedir]

Not so good, but not the worse, unemployment down to 7.3% the best number in over 4 years. However, as always in the numbers, there is an however, the number is mostly created by the discouraged worker dropping out of actively seeking employment category.

The other employment number based on the unemployed and the discouraged worker is at 13.7%. But the worse number is the labor participation rate which is at 63.2%, a number last seen in the 1978 recession period.

The worse number is that the job creation was smaller than expected and even more so, that the job creation numbers of the last few months were adjusted downward.  And what job creation there was, was at the lower wage level jobs, particularly in the service sector.

The good news is that for the T-word, the word is postponement.  The Fed has no reason to ease QE, the bond buying program, and as such, cash will continue to flow into a weak recovery, and a reason for the stock market to rally.

[LoveLife&Laughter]

Hard to believe people can find work and the stock market rally with a Democratic President.  And a black to boot.

But that's another post.