Job News for July Much Better Than Expected

Non-farm payroll jobs fell by "only" 247,000, and the unemployment rate (U-3) actually fell by .1%, to 9.4%.

This is very good news, though we about 127K jobs growth to maintain employment levels.

I would also note that the U-6 number, which I consider to be more informative and meaningful, which includes the discouraged, involuntarily part time, etc., fell too, from 16.5% to 16.3%.