Job news reaction

Generally, it's pretty good, despite the economy losing 20,000 jobs in January.

--"Is it possible that those people expecting a mediocre recovery and weak employment picture -- including me -- might be pleasantly surprised? A closer look suggests that many people may be underestimating the recovery." --Barry Ritholtz, The Big Picture

--"Turning points in the business cycle data are always difficult to interpret, but the January payrolls added a dollop of Zen like logic to a recovery that is shaping up like no other. -Joseph Brusuelas

--The official unemployment rate counts those who say they are looking for work. Those who have given up looking are not counted. Now the number of people who say they are unemployed because they re-entered the labor force -- a figure that includes people who had given up and now are trying again -- is up. The fact some are looking is good news, even if it does keep the unemployment rate high.--Floyd Norris, NYT

--"The growth has been really based on a check not only by the US government but many sovereign governments," he said. "The minute that check disappears the private market is standing very lonesome and on its own legs."--Bill Gross, Pimco Co-CIO

--"This report definitely printed on the weak side of expectations, though the guts of the report actually implies a decent monthly jobs report and a broader improvement in the labour market."-Ian Pollick, TD Securities

--"There were some positives in the report: the unemployment rate declined, average hours worked increased slightly, part time workers declined, and the employment-population ratio ticked up slightly (after plunging sharply). This is just one month - and January is the always a little tricky because of the heavy seasonal adjustment."--Calculated Risk

--"The recovery that we began to see in the summer of 2009 continues, and we will soon reap some benefits in terms of jobs. That said, the jobs recovery is expected to remain muted and the economic recovery is still subdued relative to those of the past."--Diane Swonk, chief economist at Mesirow Financial