Employment report: the economy is not falling off a cliff

Despite a lot of misguided anxiety and hand-wringing, today's monthly employment report showed that the economy continues to cruise along in soft-landing mode. Nonfarm payroll employment rose by a mosest 97,000, which isn't great, but is not bad and is certainly not evidence of an economy falling off a cliff into recession.

In a recent blog post I suggested that -250,000 would be an appropriate threshold for detecting an imminent recession. We were quite a distance away from that threshold on Friday.

No joy for the doom and gloom crowd.

-- Jack Krupansky