All icing and no cake.  We’ve been fed meaningless
economic indicators on inflation, employment, etc. for
many, many years.  Hedge fund and currency traders are
the manipulators and high-cotton-walkers these days. 
The ‘system’ reeks and the band aids keep falling off
and the sores keep oozing.  America is dying of greed.
But Messrs. Limbaugh and Beck (and their ilk)keep
telling the limp noodle masses that “Greed is good!”. 
When will these mind-warping, hate-mongers find their
deserved, righteous end?

As Samosamo points out, this jobs report amounts to happy talk - a pep talk for the general public.

162,000 new jobs per month will not make much difference.

According to the Bureau of Labor Statistics, 15 MILLION people are currently unemployed.

That’s doesn’t include the long term unemployed, i.e. folks no longer collecting unemployment benefits. Add in those folks and the real number of unemployed is much higher

Long term unemployment - longer than 6 mos - is at its highest level since WWII.

The economy will have to generate something like 300,000 new jobs a month to get people back to work in truly significant numbers.

Those kind of new job numbers haven’t been seen in many years. I think some months during the Clinton years saw new jobs being created at a rate of around 200,000 per month. That was during “good times”. Of course, unlike today, oil was cheaper then. Current oil prices will probably dampen job creation.

Hell, the 30 year trend has been that following each recession fewer people go back to work, and the ones who do, go back for lower wages.

Since the current recession was predicated on a financial crisis the likes of which we haven’t seen since the 1930’s, I’d expect that the climb back will be long, arduous and incomplete.

BTW, the failure (or refusal) to curb the excesses of Wall Street and the financial sector virtually assures another crash. When you permit bad behavoir to go unpunished, you’re guaranteed to get more of it.