My take on the latest job numbers...

[JCMach1]

Unemployment ticked up .1 %

108,000 of the 'created' jobs were service sector (mainly McJobs).

The housing/construction sector also factored fairly heavily.

I think employment still remains flat until the end of the year. For example, when business starts hiring the FED has threatened to raise interest rates. This will have a VERY negative affect on the Construction sector. As rates rise, construction will slow (if not crash). Remember, we have been at historic highs for construction.

Until industrial procduction is stronger and the manufacturing jobs tick up, the economy remains what it was... STAGNANT.

The Bush stagnation continues.