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Some, pehaps, mitigating news for the markets....

The U.S. job picture is improving. The government says 290,000 jobs were added to the world's largest economy last month.

Most economists were expecting gains of around 200,000.

With some revisions, that makes four straight months of job gains in the U.S. The unemployment rate, meanwhile, edged up to 9.9 percent.

Here's an economist first take:

“The economy is turning; unfortunately it is not improving as much as one would hope given the downturn,” Dan Greenhaus, chief economic strategist for Miller Tabak and Company told the New York Times. “As companies come out of the downturn they are going to be somewhat reluctant to at least immediately increase their work force.”

http://www.globalpost.com/notebook/commerce/100507/jobswatch-cont-0