The employment report can be good for the market in short term. In long term, it is not helping the economy. Most of the unemployment decrease is from increasing government hiring. "Education and health services continued to add jobs, with payrolls increasing 17,000 in July after rising 37,000 in June. Government employment increased 7,000 after slipping 48,000 in June."(NASDAQ:CNBC) However, Private sector are still cutting jobs. Manufacturing, Construction, Service sectors cut 247,000 jobs in June. Private sector are the one paying for Public sectors. Private sectors is the income of the Economy. and Public sectors is the expense of the economy. The income of the country is decreasing and the expense is increasing. Does this tell us something? Today's job report is not the turning point of the economy. We will see the turning point comes if the private sectors start hiring again.