The report also featured a new way in which the government estimates the population, which is used to calculate the unemployment rate. That prompted some economists to dismiss the drop in joblessness as a statistical quirk.
“The message is, you can’t believe what they tell you,” said Joshua Shapiro, chief United States economist at MFR Inc. in New York. “Everyone goes crazy over today’s number, but history has been rewritten. Things are not comparable from month to month.”
So we'll see when next month's numbers out, but it's clear that the labor market isn't exactly reawakening if we're still losing jobs.
Things are getting bad less rapidly,” said Dean Baker, co-director of the liberal Center for Economic and Policy Research in Washington. “We’re sort of hitting bottom, but there is no evidence of a robust turnaround.”