NFP +192,000, Below Expectations Of 196,000, Below Whisper Of 250,000; Unemployment Rate 8.9%, Unchanged Average Hourly Earnings

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Fri, 03/04/2011 - 09:30 | 1018052 HelluvaEngineer
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8.9% will be the headline everywhere today.

Fri, 03/04/2011 - 09:34 | 1018067 Max Hunter
Max Hunter's picture

You know it.. Pervasive...  Even though it's because of people leaving the work force... absurd..

Fri, 03/04/2011 - 09:37 | 1018086 jus_lite_reading
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Of course, and expect the obligatory "Recovery on track, everything is great" bullshit from Associated Propaganda.

 

Fri, 03/04/2011 - 09:47 | 1018139 dbach
dbach's picture

Yahoo Finance headline "Febuary Payrolls Surge - Jobless rate near 2 year low"

I had to come here to see what actaully happened, thanks zh.

Fri, 03/04/2011 - 09:55 | 1018159 quasimodo
quasimodo's picture

Yes! From the article you mentioned

"We have moved into the expansion phase of the economic cycle and the economy is self-sustaining," said Brian Levitt, an economist at OppenheimerFunds in New York."

http://finance.yahoo.com/news/February-payrolls-surge-rb-1838430983.html?x=0&sec=topStories&pos=main&asset=&ccode=

 

What a HUGE fucking relief that is today. I was getting just a little concerned there for a few weeks that Barry would not be able to put gaz in my kar, but all is well!

 

Fri, 03/04/2011 - 10:05 | 1018199 NumberNone
NumberNone's picture

Somebody really wanted to end the 'Above 9%' streak headlines...from Bloomberg prior to report...

"The projected increase in the jobless rate would mean it has been 9 percent or higher for 22 consecutive months, the longest stretch at such elevated levels since monthly records began in 1948."

Well played Labor Department, well played. 

Fri, 03/04/2011 - 10:03 | 1018191 curbyourrisk
curbyourrisk's picture

Well....that and something about Charlie Sheen or American Idol.

 

Come on, we live in America.....the only news that matters is the news that entertain us...

Fri, 03/04/2011 - 10:23 | 1018266 Ray1968
Ray1968's picture

Yup... the cheerleaders are cheering big time. Hooray! Unemployment has dropped to 8.9% recovery is in full swing.

What a crowd.

Fri, 03/04/2011 - 09:31 | 1018053 TeMpTeK
TeMpTeK's picture

I'm waiting for the wealth effect to kick in

Fri, 03/04/2011 - 09:33 | 1018063 snowball777
snowball777's picture

The door? Your head?

Fri, 03/04/2011 - 09:38 | 1018092 Id fight Gandhi
Id fight Gandhi's picture

What being underpaid and paying more for everything.

Every time I've one to the gas station for the past two weeks overhear everyone complaining.

Fri, 03/04/2011 - 21:10 | 1021099 Bobbyrib
Bobbyrib's picture

Quit being a socialist and know your role.

Fri, 03/04/2011 - 09:39 | 1018096 EscapeKey
EscapeKey's picture

It's alive and well on the commodity exchange.

http://www.bloomberg.com/markets/commodities/futures/

Fri, 03/04/2011 - 14:29 | 1019555 TeMpTeK
TeMpTeK's picture

silver $35.40.... ah yes.... There it is

Fri, 03/04/2011 - 09:30 | 1018055 slow_roast
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They should revise that up at 9:30 if markets don't move enough; I think a 200,000+ revision should do it.

Fri, 03/04/2011 - 09:33 | 1018056 firstdivision
firstdivision's picture

This is actually going to put more pressure to end QE2 by the house/senate.  Either QE2 will end in June, or BB will have to resign. I think the algos are confused on how to trade on this info. 

Fri, 03/04/2011 - 09:35 | 1018071 alien-IQ
alien-IQ's picture

Algo Logic = When in doubt, go parabolic.

Fri, 03/04/2011 - 09:44 | 1018121 Wynn
Wynn's picture

What does the house/senate have to do with QE? They defer matters of monetary policy to the Fed, the Fed then blames poor results on the .gov for their budget problems, thus neither assumes any responsibility.

Fri, 03/04/2011 - 09:59 | 1018175 firstdivision
firstdivision's picture

They can put pressure on him during hearings, and publicly denounce BB's decisions/actions. 

Fri, 03/04/2011 - 09:49 | 1018142 Max Hunter
Max Hunter's picture

I think the algos are confused on how to trade on this info. 

So is the EUR/USD.. I think so far, has decided not to...

Fri, 03/04/2011 - 10:05 | 1018200 curbyourrisk
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"This is actually going to put more pressure to end QE2 by the house/senate."

 

Are you kidding me?  This is below what they were expecting.  It was exactly the kind of read they WANT, so its the read they got.  See...we are adding jobs....just not as much as we hope.  We just might need Q3 afterall!!!

 

-none of what I said above I believe....but the government would like everyone of you to swallow it.....hook, line and...well, you know the rest.

Fri, 03/04/2011 - 09:32 | 1018057 John Law Lives
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More lies from the BLS.  All those people dropping off the rolls no long count as unemployed.

Fri, 03/04/2011 - 10:12 | 1018059 Shocker
Shocker's picture

Once again they inflate with more false hope. I'm very big on an recovery, not just saying it. The majority of people can look at there local level and can see things are not getting better.

Since last report I have seen, plenty of business either layoff or just call it quits. When are we actually going to address some problems nd fix them? Or we just going to keep saying recovery

until the end.

 

Fri, 03/04/2011 - 09:32 | 1018060 NOTW777
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laughable.  what a recovery

Fri, 03/04/2011 - 09:36 | 1018078 NOTW777
NOTW777's picture

zandi calls it a "very good" report that shows "boatload" of manufacturing jobs are coming.  they have been heralding the comeback for 2 years now

Fri, 03/04/2011 - 09:40 | 1018099 cossack55
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Isn't the name Zandi Czech for "lying-assed Joseph Goebbels Mofo"?

Fri, 03/04/2011 - 09:42 | 1018103 jus_lite_reading
jus_lite_reading's picture

Oh yeah! Let's rock 'n roll boys! Papa needs a bigger bonus this year! Screw the "little people!"

 

http://www.dailyjobcuts.com/

 

Even Harley Davidson is cutting another 150 people! Why? It MUST be the recovery!

Fri, 03/04/2011 - 09:43 | 1018109 EscapeKey
EscapeKey's picture

Yeah, but 2 weeks ago they were talking about laying off 200, so in fact they hired 50!

Fri, 03/04/2011 - 10:01 | 1018178 Dolar in a vortex
Dolar in a vortex's picture

Heeeyyyy, you're a government employee aren't you?

That kind of logic will get you in front of cameras!

Fri, 03/04/2011 - 10:41 | 1018334 oogs66
oogs66's picture

Funny how this is best we can do after 2 months of 'snow' reducing the number. Not one single economist pointing out how they dismissed last months report. All propoganda all the time!

Fri, 03/04/2011 - 09:33 | 1018062 poopyjim
poopyjim's picture

Happy days are here again!

Fri, 03/04/2011 - 09:33 | 1018065 mynhair
mynhair's picture

8.9%

A lot more retirees appearing than first guessed.

Fri, 03/04/2011 - 09:34 | 1018066 jus_lite_reading
jus_lite_reading's picture

ALL HAIL DR. DEFICIT! UNEMPLOYMENT BELOW 9%!

Oh my goodness! Green shoots are growing!

Rally time!

....

....

....

....

Whoops! Someone forgot to mention to Whore Street oil is at $103 and rising to $150 very soon!

I'm going to call a contact of mine at a local unemployment office and see if those "lines wrapped around the building" have vanished...

Fri, 03/04/2011 - 09:33 | 1018068 jschurchin
jschurchin's picture

Market up big on this news. I predict up 200+. Oil at over $100/bbl? Thats not news.

Fri, 03/04/2011 - 09:33 | 1018069 dpr10
dpr10's picture

so this is the positive snow impact from last month hahaha::))

Fri, 03/04/2011 - 09:34 | 1018070 Huck T
Huck T's picture

Green shoots

Fri, 03/04/2011 - 09:38 | 1018072 TradingJoe
TradingJoe's picture

Benjie:"See bitchez I did created jobs, hehehe, so QE3 must come so I can create some more!! Fuck the dollar, who needs them stinkin' dollars"!!!

This or any variation of it will ghost around the MSM today, it makes me want to vomit!

Meanwhile, Il Oglio "Di Libya" is rising again!

Fri, 03/04/2011 - 09:35 | 1018075 Cortez
Cortez's picture

What do you call decreased housing prices, increasing fuel and food costs, and a lack of new job growth?

 

 

 

A: A recovery!!

Fri, 03/04/2011 - 09:38 | 1018087 NOTW777
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A: A recovery (assuming there is a liberal in the WH that MSM worships)

Fri, 03/04/2011 - 09:41 | 1018104 firstdivision
firstdivision's picture

A: A Recovery (it doesn't matter who is in office, the banks make the decisions)

Fri, 03/04/2011 - 09:41 | 1018105 Cortez
Cortez's picture

Liberal or conservative isn't important in that the role of media spin is to get people to get out and spend money they don't have (i.e. credit). 

Fri, 03/04/2011 - 10:25 | 1018285 smithcreek
smithcreek's picture

liberal or conservative doesn't matter, neither has the will to do the right thing, but liberal in the WH does matter which way the media spins the data.

Fri, 03/04/2011 - 09:52 | 1018153 tmosley
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The Aristocrats!

Fri, 03/04/2011 - 09:35 | 1018077 Thomas
Thomas's picture

White noise

Fri, 03/04/2011 - 09:38 | 1018081 docj
docj's picture

I hear the chocolate ration is up to 15g from 20g, too.

Fri, 03/04/2011 - 10:28 | 1018295 StychoKiller
StychoKiller's picture

Big Brother comes through for us again; ya gotta love that guy!

Fri, 03/04/2011 - 09:38 | 1018082 Charlie_Day
Charlie_Day's picture

Where? 200k? Where? They don't exist.

Fri, 03/04/2011 - 09:38 | 1018084 apberusdisvet
apberusdisvet's picture

The AHs on CNBC now claim that we will never go back to 10%, EVER.  Zandi says 8% by next year.  Wish it were true; just don't see it.

Fri, 03/04/2011 - 09:41 | 1018108 John Law Lives
John Law Lives's picture

It may drop to 8% if the Bureau of Lies continues to calculate U3 unemployment they way they do.  When your UE benefits expire, you no long count as unemployed.  How convenient.  It is just like CPI.  Ignore surging food and energy costs and claim there is no inflation.

So much BS.

Fri, 03/04/2011 - 12:04 | 1018784 z tranche
z tranche's picture

Well, the more people that get their food through SNAP cards, the more people JP Morgan has to hire to monitor and prevent "abuses" in that program, right?

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