What the jobs report doesn't tell us

More jobs are great. But that doesn't really show us if Americans are better off.

The jobs report seems positive until you look further into it.
(Image credit: Gary Waters/Ikon Images/Corbis)

No question about it, the American economy ended 2015 with a bang.

According to Friday's jobs report, we added a spectacular 292,000 jobs in December. On top of that, the gains for October and November were both revised upward — to 307,000 and 252,000, respectively — for an additional 50,000 jobs. That brings the average for the last three months to 284,000 jobs per month. Other indicators like the unemployment rate and labor force participation didn't improve, but they didn't backslide either.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.