![]() ![]() ![]() Does it actually give us a picture of what's going on in the job market? And secondly, is it even the right number for the Fed and the market to be zeroing in on?Īnd so to sort of take the accuracy question first, just one thing that I've been thinking about is the revision to the job report, which we get every month. One is the jobs report accurate? For lack of a better word. Why are any of us here? Why are we even talking about the jobs report? And that's what we want to discuss.Īnd I sort of have been thinking about this in two ways. We're feeling very existential here apparently at Yahoo Finance. What kind of employment are we creating? What is the true rate of unemployment? Does any of this actually matter?Īnd if the jobs report is just a blunt instrument guiding monetary policy, is it useless? Well, joining us now for the discussion, Yahoo Finance's Julie Hyman, Myles Udland, Seana Smith, and our very own, Josh Schafer. Now, it's not meant to be a magic number, but it certainly has an outsized importance in shaping sentiment and changing decision making as well. Now, the jobs report and its headline number has cemented itself as the statistic that stands out from the crowd, summarizing the health of the world's biggest economy at a glance. For the Federal Reserve, the credo has long been that policy is never on a pre-set course, it adapts to changing information. Policymakers rely on it in its totality to make decisions that impact all of us. But in the world of economic and monetary policy, it's still king. ![]()
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