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Beware misleading U.S. job-creation stats Add to ...

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Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

U.S. job creation is looking stronger than it really is. The average of 202,000 new positions a month in 2013 is the best first half since 2005, after Friday’s report for June showed a better-than-expected 195,000 new positions. But the jobless rate is stuck at 7.6 per cent as more Americans gradually look for work. While the Federal Reserve has to start reversing its easy money policy sometime, employment is still far from strong enough to force its hand.

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