I think the employment situation is getting better, slowly, so I don't think it will cause the consumer to shut down, ... But job growth like this makes consumer spending that much more fragile, if some exogenous shock should hit.
Yet again, the U.S. consumer has phenomenal resilience and is not being swayed by the employment numbers coming out.
The manufacturing data certainly are positive, but the employment data specifically reinforce the notion that domestic growth is not going be enough to create many jobs.
The detail looks pretty solid, with new orders up, employment up. The dollar should react positively to this.