John Rubino writes, “Three things happened this morning: The Labor Department reported a big jump in employment; the financial markets responded like kids on Christmas morning; and — with a few hours lag — level-headed analysts deconstructed the jobs report and found it to be mediocre at best.
To take just a few of the high (or low) points:
• Americans are still leaving the labor force
• Most of the new jobs created are part-time
• The vast majority of those are in services, which is to say waiters and bartenders and such
• Most new hires are over 55”
So don’t fret or get upset, remember that mediocre is the new perfect!
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