by Jocelynn Smith
The Sovereign Investor
The market celebrated on Friday, roaring higher right out of the gate on news that 255,000 jobs were added in July, blasting past the Street estimate for a gain of 180,000.
But it’s still too early to give the all-clear sign, indicating that the economy is truly on the mend.
And definitely far too early for the Fed to start raising rates.
The unemployment rate remained flat at 4.9%, as more than 400,000 Americans entered the workforce. The Bureau of Labor Statistics reported 7.8 million unemployed Americans, but that number is far from complete if you consider that U.S. labor participation hovers at 62.8% — its lowest level in decades.