BOOM: Very Strong Employment Number

CNBC headline: WOW BLOWOUT! July jobs report demolishes expectations

Reuters headline: Strong jobs data lifts S&P to record intraday high

Bloomberg headlines:

 U.S. Posts Another Strong Month of Job Gains
 Jobs Report Shows the Recovery Is Broadening Out to Those Left Behind
 S&P 500 Heads to Record as Dollar Gains on Jobs Data; Bonds Fall

From MarketWatch:

Investors should ignore the jobs number and pay attention to this 74-week streak 

[T]he employment picture in the U. S. has improved for the longest stretch since 1973.

This observation is based on a moving average of new jobless claims staying below 300,000 for 74 weeks in a row....  weekly initial jobless claims are now lower than the lows experienced during the boom time before the Great Recession. The lower the number is, the better it is for the economy. A lower number means a smaller number of workers filing for unemployment. Fewer layoffs indicate a strong economy.

Wall Street Journal headline:  WSJ Analysis: Jobs Report Keeps Fed on Track for Rate Increase

This is nothing like what a recession looks like.

  -RW