The Bureau of Labor Statistics gives us no magic numbers this morning. While non-farm payroll numbers are only half of estimates at 110,000, national unemployment is down two tenths of a percentage point over the month to 5.2%, and the household survey's total employment in the civilian labor force grew by 357,000 while unemployment fell 332,000. Jobless claims are down; hourly earnings are over estimates. We can guess which numbers most media agencies and opposition figures will promote. Wall Street may take it in stride.
JUST GOES TO SHOW YOU: Bloomberg's reporting that the market, still afraid of Alan Greenspan, is bullish on the chance that a slight change of economic rhythm will keep the Federal Reserve easy on interest rates.
AND THEN: There's oil as villain, too.