The US Fed job report is not as weak as it seems, given the current condition

The US Fed job report is not as weak as it seems, given the current condition

The Fed report showed the US economy created 142000 jobs in September, August’s jobs tally was revised from 173000 to 136000 and wage growth flatlined. However, the unemployment rate remained steady at 5.1% in September. To me, it was not a bad report. 5.1% unemployment rate is actually quite low; when the unemployment rate is low, it is less urgent to create more jobs. Moreover, given the current poor performance of the financial markets and firms' lack of confidence, we should be pleased to see there isn't a rise in the unemployment rate. In addition, the low inflation rate has directly led to a zero income growth rate. Income usually arises when workers foresee an inflation in the future, which means when workers does not think there will be an inflation in the future, but have a danger to lose their jobs due to the unconfident markets, they will not ask for a rise in their incomes. In general, I think the report is not as weak as it seems, given the current condition of the economy.