Meltdown 101: Which Jobs Reports Tell Full Story?

The one downside of the report is that it only comes out monthly, and gives a good picture of where the labor market was last month rather than where it is this week, Dube said. So he watches the weekly jobless claims report to get a contemporary reading on the job market, rather than waiting a full month for the unemployment report. He will also look at reports like ADP's, but mostly as a complement to government issued data.

"I think the short answer is: I look at all of them because they each give a piece of information," Dube said.