The BLS came out with big numbers today: 178,000 jobs created.
Unemployment reduced to 4.3%!
The bond market reacted as expected.
As has been the theme, however, this number is not without controversy and questions. The BLS report shows almost three times the amount of jobs created as the ADP, and nearly nine times the amount of jobs created as Revelio.
One asterisk to this all: The labor force has shrunk by roughly 400,000 people, meaning fewer people are actually counted as unemployed.
This inconsistency, combined with the jobs number, has led the market on a bit of a comeback today. As we enter the holiday weekend, markets are now officially closed so we will not see any further movement until Monday.