Another indicator that the economy is still weak and faltering. No matter what people are saying, rising unemployment is a bad sign.
All of the news articles on this are suggesting that the news is good, because the forecast was only for 100,000 jobs added and there were actually 163,000 jobs created. Keep in mind that all of this economic news is not for your consumption, it’s for Wall-Streeters and investors not the average person. Market news is for the market, which is why you often see the markets react in a way that’s contrary to logic.