The latest job numbers are out and only a gymnast could find a way to spin them as good. According to the "Establishment Data" the total number of jobs increased by 204,000. And that along with the modest uptick of 0.1% increase in the unemployment rate (7.3% from 7.2%) are the only number most people will read in the headlines. However, what the headlines won't tell you is that 735,000 less people are employed and with an additional 213,000 people being added to the Civilian non-institutional population, there are an additional 932,000 people not in the labor force. See charts below.
Sample headlines: (A lot of back flips in the media this morning)
CNBC: Shutdown slowdown? Job creation soars in October
Washington Post: Economy added 204K jobs during shutdown, unemployment rate ticks up to 7.3 percent
New York Times: US Unemployment Rate Rises to 7.3%; 204000 Jobs Added
Wall Street Journal: U.S. Hiring Picks Up Strongly
Forbes: Jobs Report: U.S. Economy Added 204K Jobs In October
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