On last nights Mad Money show, Jim Cramer ranted about why in the world the market would drop because of weak unemployment numbers (remember its a lagging indicator as well).
For the most part, all of the economic numbers have been positive of late except for the June Employment numbers. Why has the market overly focused on it though we've pointed out how all the leading economic indicators are very positive? Think that's the issue when an economy escapes a recession. The market wants to focus on economic indicators even thought the leading ones will be positive and the lagging ones will be negative. Be careful in what you chose to follow. This economy is derailing based on the jobs report.
Don't really agree that this is the most important indicator in the market as Cramer states. Its a lagging indicator so how can it be that important? Hours worked, stock market, interest rates, money flow... those are all much more important indicators. They dictate the lagging jobs numbers. Also, just say know to the 2nd stimulus. Lets actually implement the first one.