Jobs fell 125,000 but the unemployment rate fell from 9.7 per cent to 9.5 per cent. Private sector employment rose 83,000. Despite the rate drop the market was disappointed as it was a bit short of expectations and the only reason the unemployment rate fell was because 652,000 people dropped out of the workforce - that is, they stopped looking for a job. Without that, the unemployment rate would have been 10 per cent.
Despite the enormous attack from a number of fronts, including record spending and near zero interest rates, the US economy just doesn't seem to be displaying any sparks of economic life.
