PreMarks: {05.04.12-Jobs}

Markets a little squeamish on a jobs report number that came in a little below expectations.  My thoughts. 

1.  Jobs are not the same as bottom line profit numbers.  Corporations in a slow growth environment are still reporting record earnings.

2.  Jobs will not grow at any exceptional rate until construction spending {and in particular new housing construction} picks up.

3.  Jobs report may have been a bit discounted based on the punk trading we've seen most of this week.

4.  Beginning to wonder if in regards to job growth/job creation if companies are taking a wait and see approach until they have a better idea of who will be in control of Washington next year.  In regards to this, now could be the beginning of a muddle along summer.  That is not an environment that helps President Obama's reelection chances.

5.  Finally not sure this is going to be a big data point in the end for stocks as markets have gone higher for a couple of years now with mediocre job creation.