Today’s jobs report was pretty meh: 155,000 new jobs, 7.8% unemployment.But there were three pieces of news that are genuinely good that are worth pointing out.
1. It wasn’t worse. Yes, this seems like a cop-out, but given that we had the Fiscal Cliff looming over the economy, and on the news every day, the fact that we didn’t see a hit to job creation is a big relief.
2. Construction jobs. Housing has been picking up, but housing hasn’t yet contributed significantly to jobs. Now it’s happening. Construction added 30,000 jobs.
3. The labour force. The labour force jumped nearly 200,000 jobs. People are getting optimistic again, and heading back into the workforce.