Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

About that jobs report...maybe it wasn't so great

VIDEO2:2802:28
Deep dig into labor participation numbers

While the numbers may change, the story of the U.S. labor market ultimately is the same. Job growth continues, but significant weakness remains.

Friday's nonfarm payroll report was the best in months, with 288,000 new jobs and an unemployment rate dropping all the way down to 6.3 percent.

The internals were somewhat less impressive.

The headline rate fell due to a stunning decline in the labor force, the quality of new jobs remained iffy and long-term unemployment is still immune to ultra-easy monetary policy as the average length of joblessness holds at more than 35 weeks.