Over the past couple of months we have seen oil prices move steadily higher, but the precious crude sold off Monday as economic concerns returned to the market.

What a difference a week makes. This time last week we were seeing increased optimism that the current recession was nearing its end, but those hopes were wiped out late last week by disappointing consumer confidence and employment data.

After a brief selloff yesterday, oil prices have been moving higher in today's action. Buyers have come back into the market today and pushed prices up as high as $95.00 earlier in the session, Prices nd are now up $1.20 to $94.69.

The main reason why prices have turned higher today is optimism about the economy created by this morning's better than expected October payroll report. According to the U.S. Labor Department, October saw a 166,000 increase in payrolls, which was more than twice the 80,000 increase that analysts expected.

The better-than-expected payroll report was enough to create some optimism of the overall economy, and put some recession fears to rest. According to Michael Lynch, who is president of Strategic Energy and Economic Research Inc., "It suggests that concerns about the economy ... are overblown a little bit."

Everyone's cheering today the strong payroll report released by the Labor Department, but if you take a closer look at the numbers you'll understand why so many middle class folks do not think the labor market offers them any good news. While the government reported that unemployment held steady at 4.7% and 166,000 jobs were created, you must look at where those jobs were created and where jobs were lost to get the true picture.

Job growth was created in the service sector, which added 190,000 jobs - led by food services (37,000 jobs - primarily at restaurants), employment services (34,000 jobs) and health care (34,000 jobs). Job losses were seen in the higher paying manufacturing sector where 21,000 jobs were lost in October and 203,000 jobs have been lost in the last year. Employment at banks and mortgage brokers dropped 5,000 where 56,000 people lost jobs since February and more layoffs are expected as the mortgage mess continues to grow.

Richard Moody, Chief Economist for Mission Residential, also found that 21,500 jobs were lost in retail trade during October, which he said is the third consecutive monthly decline. In his October NonFarm Report, he wrote, this "is a sign that retailers are not expecting great things in the coming months."

Earnings also were flat. Just a 0.2 cent gain in average hourly wage to $17.58 an hour with no gain in the average workweek of 33.8 hours.

If you're in the top executive ranks you're pay may look good, but for the middle class these numbers don't show much hope of earning a better paycheck.

Lita Epstein has written more than 20 books including the Complete Idiot's Guide to Improving Your Credit Score due out in December.

Sears Holdings (NASDAQ: SHLD) -- as well as most other retail outlets -- is taking a dive this morning after the Labor Department reported the biggest increase in the number of jobless claims since February. Worries of a weak consumer environment going into the holiday season have weighed heavily on retail, with several stocks across the sector trading at new 52-week lows today. Sears is hit particularly hard by reports like these because the company does not report its interim data between earnings releases. All investors in SHLD have to go on in the quarterly report, similar companies' performances and broad economic data. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SHLD.

After hitting a one-year high of $195.18 in April, the stock slipped to a 52-week low of $123.39 in September. This morning, SHLD opened at $134.66. So far today the stock has hit a low of $132.12 and a high of $134.75. As of 11:05, SHLD is trading at $132.61, down $2.61 (-1.9%). The chart for SHLD looks bullish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.

September's U.S. job report released Friday reinforced two economics adages. Namely: 1) it's best to not put too much confidence in the U.S. Labor Department's initial monthly job statistic, as it will undoubtedly be revised; and 2) regarding job creation/reduction, it's best to use a 3-month or 6-month average, as it gives a more-complete and more-accurate picture of hiring conditions.

For example, in September's report, which indicated that 110,000 jobs were created -- more than analysts had expected -- the U.S. Labor Department also its revised the August job report to indicate that 89,000 jobs were created, up from a 4,000-job loss the Labor Department reported in its initial August tally.

Wall Street was encouraged by September's upside jobs surprise with the Dow gaining about 85 points to 14,063 in early Friday afternoon trading.