Reactions to June Jobs Report: "OK" If You Believe the BLS Unemployment Stat (Which Most No Longer Do)

``"The net read on the economy from the monthly labor market data is that the economy is stuck on the same shallow growth trajectory that has been in place for the past several years. Even the decline in the jobless rate was a reflection of a weaker labor market."'' -- Most are now turning to the labor force participation rate, which seems more correlated to the true health of the economy (and is also more directly connected to wages and hours worked, since you can't draw people into the labor force unless you actually pay them enough and give them enough hours).