Over a beautiful Easter weekend we learned that according to the Bureau of Labor Statistics, the national unemployment rate held steady last month at 9.7%, with 162,000 jobs created. This is good if not great news for the economy. Democrats and Republicans each seized upon this latest opportunity to provide their spin, with the Dems claiming credit and the GOP downplaying the significance of the numbers.
Fact: the gain of 162,000 jobs is an overstatement due to hiring for the US census.
Fact: not all of the gain was due to the census, so there was real job growth.
Opinion: something is better than nothing.
As our blog has been noting for months now, the economy is on its way back from recession. The path will not be smooth - it never is - but the direction is up and will continue.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).