The number of people with a job isn't the best guide for business conditions, says M_C_Klein. Here's what we should really be looking at:
The June payrolls report is out, and while it was stronger than expected it doesn’t do much to change the overall trajectory of job growth in the U.S.
The U.S. economy added 224,000 jobs in June on a seasonally-adjusted basis, according to data released on Friday by the Bureau of Labor Statistics. Analysts had been expecting an increase of 162,000 which would have been broadly consistent with the average increase in employment of 164,000 jobs a month from January through May.
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