Investors won't be jumping out of the trenches to celebrate a victory any time soon, but the latest job report should inspire some confidence, says Mark Luschini, the chief investment strategist at Janney Montgomery Scott.
Although the 163,000 jobs added represents a fairly lackluster number, it was overall still positive and that makes all the difference as the economy continues to sputter out of the recession. First, Luschini says, "we didn't see deterioration in job creation, which is good. And, two, you see a number that is higher than what we've seen over the trailing three months. While that's not a fantastic number, at face value it at least suggests that what level of economic momentum we have at the moment is at least reinforced by job creation."
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