The Fox News Rundown Business Rundown: Jobs Data, Gas Prices, and Reasons to Remain Bullish on the Economy
Mar 6, 2026
Michael Lee, founder of Michael Lee Strategy and market strategist, breaks down recent jobs data and why one report should not sway investors. He discusses rising oil prices amid Middle East tensions and scenarios for how long spikes could last. He also highlights AI infrastructure winners and why fears of AI killing software jobs may be overblown.
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Jobs Report Distortions From BLS Adjustments
- The February jobs report is unusually volatile and possibly distorted by BLS methodology.
- Michael Lee highlights the birth-death adjustment and revisions as reasons the BLS struggles to gauge labor market health.
Watch Continuing Claims Not Headlines
- Focus on weekly and continuing jobless claims as clearer labor-market signals than headline nonfarm payrolls.
- Michael Lee says those series show little movement, implying the market isn't collapsing despite noisy payroll prints.
Geopolitics Muted The Usual Rate-Expectations Reaction
- Bond yields didn't fall as expected after the weak jobs print because geopolitical risk is lifting yields via oil worries.
- Lee notes 10-year yields rose to ~4.15% rather than dropping on rate-cut hopes.