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

Tyler Durden's picture


Total NFP increases in February: +192,000, slightly below expectations of 196,000, and below the Goldman target of 200,000. January revised from 36K to 63K. Private Payrolls increased by 222K on expectations of 200K from 68K, manufacturing jobs increased by 33K from 25K, down from a 53K revised in February. From the report: "Nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing." Average hourly earnings unchanged, and average weekly hours declined to 34.2 from 34.3.


Among the major worker groups, the unemployment rates for adult men (8.7 percent), adult women (8.0 percent), teenagers (23.9 percent), whites (8.0 percent), blacks (15.3 percent), and Hispanics (11.6 percent) showed little or no change in February. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of job losers and persons who completed temporary jobs, at 8.3 million, continued to trend down in February and has fallen by 1.2 million over the past 12 months. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.0 million and accounted for 43.9 percent of the unemployed. (See tables A-11 and A-12.)

Both the civilian labor force participation rate, at 64.2 percent, and the employment-population ratio, at 58.4 percent, were unchanged in February. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 8.3 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)


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Fri, 03/04/2011 - 09:30 | 1018052 HelluvaEngineer
HelluvaEngineer's picture

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
jus_lite_reading's picture

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."


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.

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
slow_roast's picture

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
curbyourrisk's picture

"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
John Law Lives's picture

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
NOTW777's picture

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
cossack55's picture

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!"


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


A lot more retirees appearing than first guessed.

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


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
NOTW777's picture

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
tmosley's picture

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?

Fri, 03/04/2011 - 09:39 | 1018088 Thomas
Thomas's picture

Gold/silver seem to be calling their bluff.

Fri, 03/04/2011 - 09:43 | 1018111 eigenvalue
eigenvalue's picture

The equities are down although still positive. Hopefully silver can break $35 this week although it seems unlikely

Fri, 03/04/2011 - 12:46 | 1019027 SRV - ES339
SRV - ES339's picture

... that's why they are enemy No 1 & 2

Fri, 03/04/2011 - 09:39 | 1018097 Seymour Butt
Seymour Butt's picture

Here comes the sun, Here comes the sun, and I say it's all right. 

Oh, wait, that's not the sun. That's QE3. Oops.



Fri, 03/04/2011 - 09:41 | 1018101 Charlie_Day
Charlie_Day's picture

Loved Liesman/Santelli today. Rick's all yea U6 looks better but most of us down here just don't believe these numbers anymore... No conspiracy.. just saying. Liesman "What? Horse rubbish, obviously these are correct." It was rather hilarious.

Fri, 03/04/2011 - 09:42 | 1018102 e_u_r_o
e_u_r_o's picture

who cares about the numbers, you guys should go to work instead of trolling here and posting the same comments every time numbers come out. I mean whats the point?

Fri, 03/04/2011 - 09:45 | 1018125 Cortez
Cortez's picture

I'm at work now.  I have noticed that every year I don't get a raise because of the "economy", I double down on laziness and surfing. 

Fri, 03/04/2011 - 10:13 | 1018226 SheepDog-One
SheepDog-One's picture

Yep, its the 'new normal', the more govt lies the more I surf and snooze at work.

Fri, 03/04/2011 - 12:48 | 1019044 SRV - ES339
SRV - ES339's picture

... hope you guys have weak IP departments 

Fri, 03/04/2011 - 15:31 | 1019828 SheepDog-One
SheepDog-One's picture

What IP department? They were all fired a couple quarters ago.

Fri, 03/04/2011 - 09:47 | 1018133 jus_lite_reading
jus_lite_reading's picture

You're right. Unless the people get up and do something about this raping of America, nothing will change. Same old, same old.

Wait! What's that? Brent over $115pb will destroy a full 1% of the global GDP?

Hold on to your Eurotrash ass. Once Spain goes, you'll be swimming to Canada on a rubber raft!

Fri, 03/04/2011 - 10:02 | 1018180 e_u_r_o
e_u_r_o's picture

raping of america? america is the one who is raping the world. we pay more than double for gas than u over there while the average pay is about 1k$ per month.


americans deserve only to rot in hell. I will proudly hold to my eurotrash ass. youre icons os fat and stupidity over here

Fri, 03/04/2011 - 10:17 | 1018239 Richard Head
Richard Head's picture

Take it up with your government, moron.  A barrel of oil costs the same for everyone.  Half of what you pay for gasoline is taxes to feed your welfare state economy.  Keep it on that side of the Atlantic. 

Fri, 03/04/2011 - 10:20 | 1018246 SilverRhino
SilverRhino's picture

Fuck you and the horse you rode in under.   If it wasn't for the Americans and Russians you'd be fucking speaking German.

Fri, 03/04/2011 - 10:23 | 1018265 EscapeKey
EscapeKey's picture

Please stop embarrassing the rest of us Europeans.

Fri, 03/04/2011 - 09:41 | 1018106 John McCloy
John McCloy's picture

Birth death?

Fri, 03/04/2011 - 09:44 | 1018114 Robslob
Robslob's picture

These numbers will continue (lies or not) as to give the Fed an "out" from their existing monetary policy so they can maintain the illusion of control.

The real problem will be when the Fed, even when given the out, does not take it and continues to monetize the debt much to everyone's (not ours at ZH) shock...that is when the shit hits the fan...

Fri, 03/04/2011 - 09:46 | 1018127 A Proud Canadian
A Proud Canadian's picture

The lead story on CBC news this morning is rising food prices....a major retailer says that we should be prepared for all categories to rise very soon.  Then they went into the UN report of global food price concerns.  Finally, I became so depressed that I had to switch to the US networks to catch up on Charlie Sheen and those evil Wi union thugs.  I feel better now.

Fri, 03/04/2011 - 09:50 | 1018144 jus_lite_reading
jus_lite_reading's picture

I watch only non-US domiciled news for that very reason. When the 10 o'clock news' main headline is the most recent winner in Amerikan Idol, we know there is something seriously wrong there...

Must. Maintain. Control. Keep. Illusion. Going........

Fri, 03/04/2011 - 09:46 | 1018134 defn8Dog
defn8Dog's picture

Weather's Positive Impact on Birth/Death : More Shovelers

Fri, 03/04/2011 - 09:51 | 1018152 fuu
fuu's picture

99 weeks ago was 4/10/2009.

Fri, 03/04/2011 - 09:59 | 1018172 Bob
Bob's picture

The market is a leading indicator, so I guess we'll be looking at a labor bull market from here off that two year lag. 

Hold on fast!

Or not.

Fri, 03/04/2011 - 09:56 | 1018165 Mach1513
Mach1513's picture

B/D = BS adjustment.

Note: it never goes down!

Fri, 03/04/2011 - 09:57 | 1018166 Tense INDIAN
Tense INDIAN's picture

Keep shorting WALMART ...l.targets less than 45.....

Fri, 03/04/2011 - 09:58 | 1018167 lynnybee
lynnybee's picture

there are no jobs.   there hasn't been any jobs for years !   in 1978 i was earning $10/hr. at a hospital in COLUMBUS, OHIO.    now, i can find no job, especially for someone like me.  & since our savings are not earning interest, if we are not careful, we're going to be broke someday !       my sister & i both agree: 


  Employers do not want our kind of person, employers want dumb, obedient slaves who tow the line & earn their pitance.



Fri, 03/04/2011 - 10:15 | 1018232 GreenSideUp
GreenSideUp's picture


Fri, 03/04/2011 - 11:04 | 1018444 falak pema
falak pema's picture

Khadaffi needs a nurse urgently. Maybe two. Pays well. In gold if need be. Free trial all fare paid. No cost. Just the odd risk of a marine boot without clips on.))

Fri, 03/04/2011 - 11:12 | 1018486 goldfish1
goldfish1's picture


Hear hear sister.

Fri, 03/04/2011 - 15:21 | 1019793 Big Ben
Big Ben's picture

My friend's wife was out of work for almost 2 years and had just about given up hope of finding a new job. People would tell her: "We like you, but we just don't have any openings now.". Then one of my friend's friends suggested that she might consider a contracting position. So she asked one of the companies that had turned her down whether they had any contracting positions open. They said "Oh, we didn't know you were interested in contracting. Sure, we'll hire you as a contractor."

So in her case, "contractor" was the magic word and she probably could have found a job long before if she had only known it. Of course, she had to take a pay cut and got no benefits. But now her contracting job is being converted into a regular full time position.

So I would suggest that you be persistant and never stop looking. Being flexible and networking probably also help a lot.

I wish you the best of luck in your job search!

Fri, 03/04/2011 - 10:09 | 1018201 KickIce
KickIce's picture

And it only cost us 3 trillion in deficit spending.

Yet to be seen what happens in places like Wisconsin/Ohio.  Either fewer jobs or less pay, but will undoubtably hurt.

Fri, 03/04/2011 - 10:09 | 1018210 MasterBeta
MasterBeta's picture

Yeah right great number, if hiring is on track then why is every newsworthy state and local gov't ready to flood the labor market with freshly laid off public employees.  All is well......

Fri, 03/04/2011 - 10:23 | 1018272 lbrecken
lbrecken's picture

the corruption has to end........i have had enough

Fri, 03/04/2011 - 10:27 | 1018286 overmedicatedun...
overmedicatedundersexed's picture

what is disgusting (even on ZH )there is no answer to the economic problems facing America..all is complexity, financial and governmental complexity..bailouts and Fed policy so complex that it is no longer understandable..  that's what we are lead to believe..the genius experts on wall st and Fed and Gov can barely understand what to do how to get us from A to B,.. I call it BS total wimp  socialist/kleptocratic/minded BS.

America's problems are easily solved..but not with today's meme. think out side the box is thrown aside for the sake of Bankster and the elite..

I say again the solution to America's malaise is right in front of us. the Vail of economic free trade and globalism has blinded the whole nation.

open your eyes America:

step 1. tariffs on imports of manufactured goods must be greatly increased. if you have to ask why or you think it is impossible or worse yet it is anti are not thinking out side the box.

Fri, 03/04/2011 - 10:35 | 1018317 StychoKiller
StychoKiller's picture

Two-word solution:  Great Implosion!

You may not like it, but it's coming...

Fri, 03/04/2011 - 11:45 | 1018672 goldfish1
goldfish1's picture

Such a great benefit accrues to those reading these threads. Excellent insight Stychokiller.

Fri, 03/04/2011 - 10:29 | 1018297 trillion_dollar...
trillion_dollar_deficit's picture



> Mark to Fantasy

> $1.5 Trillion Deficits


Looks like all that free money is finally starting to take hold. Reinforces my theory we're going to see a deluge of hiring the next 5-6 months.


The hangover isn't gonna be pretty though.  

Fri, 03/04/2011 - 15:31 | 1019825 SheepDog-One
SheepDog-One's picture

'Free money finally starting to take hold' why, because of clearly manipulated data? Real U-3 is 12%! For anyone with half a brain to look!

Fri, 03/04/2011 - 10:40 | 1018330 Igiveup
Igiveup's picture

Tyler:  I vented on a previous thread about the people posting on this site.  I probably made my comment more all inclusive than I intended to.  I think the problem is the trolls.  In order to keep machines out, you have the poster answer a math question.  To keep the trolls out, why don't you ask a second question or series of questions.  For example, "If it started raining and you were outside, would you go inside"  or "If the snow was yellow, would you eat it"  or "if you got a burning sensation in your urinary tract, would you go to the doctor".  I'm sure there are a host of common sense questions that cannot be answered with a calculator or google and traffic would be way down and those who are left could have a reasoned discussion.

Fri, 03/04/2011 - 10:57 | 1018416 lynnybee
lynnybee's picture

Professor Michael Hudson says that the government wants a depression !   Here is an excellent YOUTUBE clip of Dr. Hudson explaining why the government is more afraid of a debt than a depression.    This is being orchestrated deliberately.    People are going to die in this one ...with no jobs, no paychecks & soon to be no unemployment checks........ people will go hungry & starve.     My heart .  

Dr. Michael Hudson :

Fri, 03/04/2011 - 12:42 | 1018993 trav7777
trav7777's picture

8.9 vs Gallup's 10.3?  Who am I to trust???

Fri, 03/04/2011 - 13:02 | 1019112 ThirdCoastSurfer
ThirdCoastSurfer's picture

The full effects of the 2% social security cut are now in full effect. Married couples both earning $106,800 and above (and even below to a proportionately lesser extent!) have fully employed the additional spending power of that money and it has been in place long enough to become habit.

$200,000 = $4,000 or $300 more a week. Look at the bang for the buck we got! 

Inventories increasing, wages flat, hours flat. Spending at luxury retailers spike, Walmart, Target decline. 


Mon, 03/07/2011 - 20:40 | 1028068 lsjcma
lsjcma's picture

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