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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
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.
More:
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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8.9% will be the headline everywhere today.
You know it.. Pervasive... Even though it's because of people leaving the work force... absurd..
Of course, and expect the obligatory "Recovery on track, everything is great" bullshit from Associated Propaganda.
Yahoo Finance headline "Febuary Payrolls Surge - Jobless rate near 2 year low"
I had to come here to see what actaully happened, thanks zh.
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!
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.
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...
Yup... the cheerleaders are cheering big time. Hooray! Unemployment has dropped to 8.9% recovery is in full swing.
What a crowd.
I'm waiting for the wealth effect to kick in
The door? Your head?
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.
Quit being a socialist and know your role.
It's alive and well on the commodity exchange.
http://www.bloomberg.com/markets/commodities/futures/
silver $35.40.... ah yes.... There it is
They should revise that up at 9:30 if markets don't move enough; I think a 200,000+ revision should do it.
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.
Algo Logic = When in doubt, go parabolic.
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.
They can put pressure on him during hearings, and publicly denounce BB's decisions/actions.
So is the EUR/USD.. I think so far, has decided not to...
"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.
More lies from the BLS. All those people dropping off the rolls no long count as unemployed.
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.
laughable. what a recovery
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
Isn't the name Zandi Czech for "lying-assed Joseph Goebbels Mofo"?
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!
Yeah, but 2 weeks ago they were talking about laying off 200, so in fact they hired 50!
Heeeyyyy, you're a government employee aren't you?
That kind of logic will get you in front of cameras!
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!
Happy days are here again!
8.9%
A lot more retirees appearing than first guessed.
ALL HAIL DR. DEFICIT! UNEMPLOYMENT BELOW 9%!
Oh my goodness! Green shoots are growing!
Rally time!
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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...
Market up big on this news. I predict up 200+. Oil at over $100/bbl? Thats not news.
so this is the positive snow impact from last month hahaha::))
Green shoots
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!
What do you call decreased housing prices, increasing fuel and food costs, and a lack of new job growth?
A: A recovery!!
A: A recovery (assuming there is a liberal in the WH that MSM worships)
A: A Recovery (it doesn't matter who is in office, the banks make the decisions)
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).
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.
The Aristocrats!
White noise
I hear the chocolate ration is up to 15g from 20g, too.
Big Brother comes through for us again; ya gotta love that guy!
Where? 200k? Where? They don't exist.
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.
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.
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?
Gold/silver seem to be calling their bluff.
The equities are down although still positive. Hopefully silver can break $35 this week although it seems unlikely
... that's why they are enemy No 1 & 2
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.
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.
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?
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.
Yep, its the 'new normal', the more govt lies the more I surf and snooze at work.
... hope you guys have weak IP departments
What IP department? They were all fired a couple quarters ago.
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 $115pb will destroy a full 1% of the global GDP?
Hold on to your Eurotrash ass. Once Spain goes, you'll be swimming to Canada on a rubber raft!
raping of america? america is the one who is raping the world. we pay more than double for gas than u over there while the average pay is about 1k$ 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
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.
Fuck you and the horse you rode in under. If it wasn't for the Americans and Russians you'd be fucking speaking German.
Please stop embarrassing the rest of us Europeans.
Birth death?
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...
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.
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........
Weather's Positive Impact on Birth/Death : More Shovelers
99 weeks ago was 4/10/2009.
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.
B/D = BS adjustment.
Note: it never goes down!
Keep shorting WALMART ...l.targets less than 45.....
http://markettechnicals-jonak.blogspot.com/
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:
THERE ARE NO JOBS FOR WOMEN LIKE US ...... 60, WHITE, INTELLIGENT, ARTICULATE, OUTSPOKEN & CAPABLE. ........ there are no jobs for us.
Employers do not want our kind of person, employers want dumb, obedient slaves who tow the line & earn their pitance.
+1
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.))
THERE ARE NO JOBS FOR WOMEN LIKE US ...... 60, WHITE, INTELLIGENT, ARTICULATE, OUTSPOKEN & CAPABLE. ........ there are no jobs for us.
Hear hear sister.
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!
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.
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......
the corruption has to end........i have had enough
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 growth..you are not thinking out side the box.
Two-word solution: Great Implosion!
You may not like it, but it's coming...
Such a great benefit accrues to those reading these threads. Excellent insight Stychokiller.
> ZIRP4EVA
> QE4EVA
> 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.
'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!
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.
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 : http://www.youtube.com/watch?v=E3DsmGvVqiw
8.9 vs Gallup's 10.3? Who am I to trust???
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.
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