As reported in Barrons, the (small business) birth/death model adjustment ADDED 170k-ish jobs to the minus-62k reported non-farm payrolls this month.  If memory serves, last month it was actually a larger upward adjustment.  When anticipating the near-term performance of the economy, it's wise to remember that a large portion of these "theoretical" entrants to the workforce won't be spending their theoretical, but unfortunately also unearned, wages and that labor market conditions are actually significantly weaker than they appear in DOL reports.

Regards, Dick