THE labour market data is full of conflicting signals, but the big picture is that the US economy is in pretty good shape. That’s worth celebrating, irrespective of what the “good news is bad news for interest rates” crowd tells you.
Consider the hodgepodge of data released by the Bureau of Labour Statistics (BLS) last Friday. On the positive side, the so-called establishment survey suggested that employers added a whopping 272,000 jobs last month, exceeding all 77 forecasts compiled by Bloomberg.
