NFP +36,000, Huge Miss To +146,000 Expectations, 9% Unemployment, Not Seasonally Adjusted U-6 Surges From 16.6% to 17.3%

Tyler Durden's picture


  • Change in Private Payrolls (Jan) M/M 50K vs. Exp. 145K (Prev. 113K)
  • Change in Manufacturing Payrolls (Jan) M/M 49K vs. Exp. 10K (Prev. 10K)
  • Seasonally adjusted U-6 underemployment 16.1% from 16.6% previously
  • Much more importantly, Not-seasonally adjusted U-6 surged from 16.6% to 17.3%!
  • The civilian labor force declined from 153,690
    to 153,186
  • Government workers: from 20,759K to 20,740K
  • Labor force participation at 64.2%, the lowest since March March 1984
  • Part-time workers for economic reasons: 8,407
  • Part-time workers for non-economic reasons: 17,552
  • Birth/Death adjustment: -339,000

We are now all awaiting Snow Lavorgna to appear and explain how January snow is to blame for genital herpes, among every other bad thing in the world.

From the report:

The unemployment rate fell by 0.4 percentage point to 9.0 percent in January, while nonfarm payroll employment changed little (+36,000), the U.S. Bureau of Labor Statistics reported today. Employment rose in manufacturing and in retail trade but was down in construction and in transportation and warehousing. Employment in most other major industries changed little over the month.

The unemployment rate (9.0 percent) declined by 0.4 percentage point for the second month in a row. (See table A-1.) The number of unemployed persons decreased by about 600,000 in January to 13.9 million, while the labor force was unchanged. (Based on data adjusted for updated population controls. See table C.)

Among the major worker groups, the unemployment rates for adult men (8.8 percent), whites (8.0 percent), and Hispanics (11.9 percent) declined in January. The unemployment rates for adult women (7.9 percent), teenagers (25.7 percent), and blacks (15.7 percent) were little changed. The jobless rate for Asians was 6.9 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of job losers and persons who completed temporary jobs fell from 8.9 to 8.5 million in January. The number of long-term unemployed (those jobless for 27 weeks or more) edged down to 6.2 million and accounted for 43.8 percent of the unemployed. (See tables A-11 and A-12.)

After accounting for the annual adjustment to the population controls, the employment-population ratio (58.4 percent) rose in January, and the labor force participation rate (64.2 percent) was unchanged. (See tables A-1 and C.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined from 8.9 to 8.4 million in January. 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.)

Full report

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HelluvaEngineer's picture

Huge bar on /ES.  Someone is frantically defending the futures.  Isn't this huge volume for after hours?

firstdivision's picture

There's huge bars all over the place on all markets.  Doesn't make sense unless algos are currently confused due to the 9% number mixed with that massive employment miss.

HelluvaEngineer's picture

The real time 5 minute chart on the futures looked strange - started to drop like a rock and immediately huge (programmed?) buying stepped in.  Looks like volume on that bar was as high as the brief selloff during trading hours yesterday.

FunkyMonkeyBoy's picture

It's all lies, the algos have no reason to understand these numbers, just like us humans don't. They don't make sense, they are completely fabricated numbers. All governments do is lie.

If it doesn't stand up to scrutinity then it's a lie.

Oh regional Indian's picture

They're not numbers Funkyman. They are NUMBers.

When you see them as such, you ignore them unless you want to be NUMBered.

I'm glad this scam's days are NUMBered. Once the BDI slips into triple digits, it's just a matter of time.

After that, while money fall like pretty snowflakes from the sky, it won't buy you much.

Except maybe, a snowflake.


silvertrain's picture

 Funny I've never hear anyone say that the number was high because we had awesome whether last month..

Twindrives's picture

The Federal Reserve is Benocide Bernanke's Frankenstein.  His creation terrorizes the world.  

whatz that smell's picture

soften 'em up with the sound cannon and tear gas... then nuke-em with the bernanke put!


Azannoth's picture

"The unemployment rate fell by 0.4 percentage point to 9.0" at this rate we'll have a surplus of jobs next year without any1 actually working

ElvisDog's picture

If my math is correct, they seasonally-adjusted an additional 2M workers into the ranks of the employed.

firstdivision's picture


You forgot to mention that it was due to weather, except that drop to 9% was becuase of the awesome work of the Bernak!

Max Hunter's picture

9% according to the survey... Good Grief.. Looks like they are kicking the rhetoric up a notch..

firstdivision's picture

Pat Robertson said the miss was becuase the people were looking for gay jobs, in gay industries.  So god made it snow a lot to pervent the people from getting gay jobs, in gay industries.

cosmictrainwreck's picture

am a little dubious /sarc, but will definitely check it out next time I talk with the Almighty

firstdivision's picture

If you don't get the joke, google Pat Robertson , snowstorm. 

sun tzu's picture

I'm sure that's relevant, because Pat Robertson is the cause of this country's economic problems

lynnybee's picture

Non - farm payrolls .     Well, if I can't find a decent job in the "non-farm" space, then, I guess I'll have to start looking in FARM PAYROLLS !!  ........ time to drop out of "their game" & find my own game.

etrader's picture

Explains the Gold buy basket move , yesterday afternoon ;-)

Its all the snows fault.....

uhb's picture

Astonishing how few jobs you get for 1,400,000,000,000 new debt per year . buahuahua!!!!

EscapeKey's picture


Lies, damn lies, and government statistics.

docj's picture

Yep - worst employment participation rate in 26-years and the "headline" number is materially better than the lows of the recession.

The Ministry of Truth at "work".

Shocker's picture

Wait one second, so we dropped to 9.0% unemployment. That is horrible because unemployment hasn't dropped. It means more people are now out of the system. Check for yourself


uhb's picture

can't be, there are only 40,000,000 amerivans on food stamps. it would be funny if it wasnt so depressing.

EscapeKey's picture

You're preaching to the choir.

Shocker's picture

Well I'm glad some people see, the crazyness :-)

101 years and counting's picture

bernanke is accomplishing his mandate of lowering unemployment.  too bad its only because he's made the situation so impossible, everyone is giving up looking.  good job ben, you genocidal, lying sack of shit. 

fastishplastic's picture

why would they report a more-truth today of all days? 

youngman's picture

And unemployment down to 9%.....they just drop people off the the foodstamp number..its a better number..they do not drop off there...they just announced 500,000 dropped off the what do those people do...they file for foodstamps....this is a joke...with Bernanke yesterday...and these numbers...we are a joke...

uhlmant's picture

so we drop unemployment to 9% but inflation kicking in.  Misery index increasing.  We need a new economy misery index that accounts for the throngs on food stamps and u-6.

ToddGak's picture

Didn't you guys see the USA Today article yesterday?  Our standards of living are better than ever...because we pay twice as much for housing and health care than we did in 1980, even inflation adjusted...and we have iPhones.  And you can get a t-shirt at Walmart for $3.

john milton's picture

must be the snow effect instead of wealth effect

papaswamp's picture

NILF skyrockets by more than 2.2 million. Ouch!

uhb's picture

NILF? I only care about MILF's ;)

KTV Escort's picture

it'll cost you, they need work

Stuart's picture

any analyst or commentator that does not point this out or worse, tries to ignore it, is the one that needs to be ignored from that point on, period.  

Cognitive Dissonance's picture

Some idiot is on CNBC saying these numbers are meaningless because of January weather. Of course, if jobs had been up 200k the numbers would have been full of meaning.

Ass wipe.

EscapeKey's picture

Well, the only shocking thing in that statement is the admission that you watch CNBC!

Cognitive Dissonance's picture


I watch and listen to CNBC during breaking news moments. Otherwise it's running in the background on one of my monitors with the sound muted. As a financial planner and broker who manges money, I would be a fool not to be aware of what's going on, regardless of how insane it might be. 

TrihumpTheInsultDog's picture

Wow you sound like a real big shot trader. Multi monitor setup, maybe a phone bank with direct lines to the trading pits, RAN Squawk (so you can hear what they are saying about you when you decide to move the markets).

Just wow!

Blano's picture

Lol, I read that as "broker who mangles money."

Founders Keeper's picture

[I would be a fool not to be aware of what's going on, regardless of how insane it might be.]---Cognitive Dissonance

I agree, CD.

I keep track of the MSM as well, regardless of their spin. I need to know what's being fed to the public in order to gauge where the general public is at emotionally/mentally. I go else where for truth.

Yeah, if I had a personal money manager, you bet I would want him or her surrounded by banks of monitors, including CNBC in the background.


pazmaker's picture

admitting that you watch CNBC says a lot.  :)

Quantum Nucleonics's picture

Come on now, a sizeable number of the people here watch CNBC at least occassionally.  It's easier to deduce the truth if you know the lies and disinformation. Back in the good old days, the CIA read every word of Pravda every day.

Max Hunter's picture

Zamboner from Moodies.. LOL..

I like what Santini on the floor said.. about one of those talking heads not being a cool aid drinker.. :)