A three week late Jobs report from a government that is trying to please the general public isn’t going to have much meaning for anybody. That aside, the Jobs report is justa miniscule bar that shows how some portion of te general public is doing. After all, it is estimated that 8.5%+ of people who do not have a job are cut from the Unemployment Report due to different causes. For example, 7 million Americans with disbilities or a missing limb or something else that prevents them from finding or keeping a job are cut from the Report because they can’t maintain a job “long enough”. Although there have been very few reports on this, the BLS defines “long enough” as 4+ months. With numbers like that, I’m not sure how many people are cut from the Unemployment Report.
The second reason why the Jobs Reports are useless is because it hardly ever impacts the market anymore. Why is this? That’s because most investors have realized that the Jobs Report are as reliable and meaningful as a Politician’s promise – it’s not. It only matters if people have a job because they would be paying taxes and pumping money into the economy, but when people can’t find out which sections are getting hit the HARDEST, and which sections are scraping through, the Jobs Report helps. However, when people can’t rely on something accurately it loses its value.
Bottom Line: THE JOBS REPORT IS NOT ACCURATE AND IT DOESN’T MOVE MARKETS, GLANCE AT IT THEN JUST KEEP GOING.