The Fed watches the jobs report. So should we.

Today the Bureau of Labor Statistics released the December jobs report, among the most important of the economic numbers. It is timely and describes one of the core engines of US growth. It tells us much about the US economy’s strength (growing or fading) and about wages — affecting inflation and interest rates, corporate profits and wage inequality.

Economy

Understanding these numbers requires a broader perspective than financial journalists use, so the emphasis of the major news reports tends to the almost meaningless “horse race” aspects: better than expected! — rather than strong or weak, faster or slower.

This report is important for us both as investors and citizens. To see what this report tells us go to my analysis at Seeking Alpha (post your comments there).

This is the second of two reports today. The first was Drugs and machines making people smarter & stronger: boon or bane?