Jobs Jobs Everywhere Jobs

Jobs number came out today and it looks OK at 166,000. What the MSM of course never says is that 150,000 is considered the 0 baseline. It takes 150,000 new jobs just to keep up with population growth. So in reality 16,000 new jobs were created.

What this doesn't take into account however is any non-employee "jobs". Your independent contractors. Your real estate agents. Basically anyone who works on a 1099 basis. They aren't considered jobs in the traditional sense of the word. Include the massive losses in income from real estate and construction and the jobs number look awful.

The jobs report is becoming less and less relevant. This thing goes back to the days when people worked for a company 40 years and got a gold watch at the end. As we all know those days are long gone. And so is the idea of what a job is. Of course being the federal government, they still use outdated data and will do so for another 15 years.

Don't hold your breath waiting for CNBC to mention this.