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NFP Prints At 103,000 On Expectations Of 150,000 Unemployment At 9.4%, Private Payrolls +113K On Expectations Of +178K, Hourly Earnings Up 0.1%

Tyler Durden's picture





 

Immediate market reaction is not pretty as everyone's completely ridiculous expectation that Barclays' "95% confidence interval" of a 480,000 print ends up being that much hot air.

Summary:

  • Change in Private Payrolls (Dec) M/M 113K vs. Exp. 178K (Prev. 50K, Rev. to 79K)
  • Change in Manufacturing Payrolls (Dec) M/M 10K vs. Exp. 5K (Prev. -13K, Rev. to -8K)
  • US Average Hourly Earnings (Dec) Y/Y 1.8% vs. Exp. 1.8% (Prev. 1.6%)
  • US Average Weekly Hours (Dec) M/M 34.3 vs. Exp. 34.3 (Prev. 34.3)
  • Labor force participation plunges to multi year low: 64.3%
  • 24 thousand added from Birth-Death

From the report:

The number of unemployed persons decreased by 556,000 to 14.5 million in December, and the unemployment rate dropped to 9.4 percent. Over the year, these measures were down from 15.2 million and 9.9 percent, respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (9.4 percent) and whites (8.5 percent) declined in December. The unemployment rates for adult women (8.1 percent), teenagers (25.4 percent), blacks (15.8 percent), and Hispanics (13.0 percent) showed little change. The jobless rate for Asians was 7.2 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

In December, the number of job losers and persons who completed temporary jobs dropped by 548,000 to 8.9 million. The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 6.4 million and accounted for 44.3 percent of the unemployed. (See tables A-11 and A-12.)

The civilian labor force participation rate edged down in December to 64.3 percent, and the employment-population ratio was essentially unchanged at 58.3 percent. (See table A-1.)

The number of persons employed part time for economic reasons (some-times referred to as involuntary part-time workers) was essentially unchanged in December at 8.9 million. 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.)

About 2.6 million persons were marginally attached to the labor force in December, little different than a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

Among the marginally attached, there were 1.3 million discouraged workers in December, an increase of 389,000 from December 2009. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.3 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)

 

 

 


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Fri, 01/07/2011 - 09:31 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

BTFD!!!!

Fri, 01/07/2011 - 10:07 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Wow, The Turd nails it here. The guy's a flippin genius:)

http://tfmetalsreport.blogspot.com/2011/01/putting-bs-in-bls-bs-report.html

Fri, 01/07/2011 - 10:23 | Link to Comment 66Sexy
66Sexy's picture

All those christmas tree december jobs are gone now, wouldn't it be safe to assume this is setting up a major wall street RALLY, when unemployment goes UP in January and we can expect QE3?

Fri, 01/07/2011 - 10:29 | Link to Comment EscapeKey
EscapeKey's picture

Solution - have xmas every month.

Not having a monthly xmas is unamerican. Are you a terr'ist?

Fri, 01/07/2011 - 13:53 | Link to Comment LeBalance
LeBalance's picture

By Fiat: Jan - November compressed into one month, called November, it ends with Thanksgiving, so its a Turkey.  Econ data only reported in January (I mean November) of the following year.  December is either celebrated for 6 months or 9 months and Sexmas Day is now a month and on every day there are mandated gifts to give.

Recovery here we ho ho ho!

"You will be ho ho ho happy,

Or we will ho ho ho shoot you."

"Smile, smile, smile!"

 

Fri, 01/07/2011 - 09:31 | Link to Comment 101 years and c...
101 years and counting's picture

depression, bitchez.

Fri, 01/07/2011 - 09:41 | Link to Comment jus_lite_reading
jus_lite_reading's picture

That's too harsh.

Let me hear the frauds spin this as recovery! Recovery bitches!

Fri, 01/07/2011 - 10:39 | Link to Comment CulturalEngineer
CulturalEngineer's picture

Believe me... They will try! Oh you betcha... they will TRY!

Just heard that the world's premier economist and prognosticator, Erin Burnett... will be on Meet the Press this Sunday to reassure the public that all is well.

It's so, so re-assuring to know that our fair Republic's mainstream media doesn't have to hear from curmudgeon outsiders like Tyler, Yves or Mish (yeah, those 3 don't always agree that's for sure... but on one thing they DO agree: the current paradigm isn't now working and isn't going to work!).

I liked Pollyanna too! But would be a little leery of her as an economics advisor.

Welcome to the world of Disney News!

(I mean no personal offense to either Erin Burnett or Haley Mills... in fact I find them both very appealing and would welcome a chance to see Ms. Mills on Meet the Press and Erin Burnett star in a re-make of Pollyanna.)

Fri, 01/07/2011 - 09:52 | Link to Comment Sudden Debt
Sudden Debt's picture

They'll just print more jobs and solve all of it.

On the other hand, the number is close enough to R A L L Y!!

Fri, 01/07/2011 - 09:57 | Link to Comment velobabe
velobabe's picture

hi, mr waffle. liked your article†

Fri, 01/07/2011 - 10:25 | Link to Comment EscapeKey
EscapeKey's picture

Not according to your independent, unbiased media:

http://www.marketwatch.com/story/jobless-rate-down-to-94-as-103000-jobs-...

WASHINGTON (MarketWatch) — The U.S. economy added 103,000 jobs in the final month of 2010 while the nation’s unemployment rate fell to 9.4%, the lowest level since May 2009, the Labor Department reported Friday.

Marketwatch - where every headline is a happy headline.

Fri, 01/07/2011 - 10:39 | Link to Comment Kina
Kina's picture

Just came back from a movie and saw that headline and thought wow, more good news, things are on the up an up.

 

Everything is happy happy at Marketwatch. The probably have a sand pit, recess time, toys and happy meals, and blue BB pills.

Fri, 01/07/2011 - 09:32 | Link to Comment John Law Lives
John Law Lives's picture

9.4%?  How many people dropped off the roles for that bogus number to be calculated.

Fri, 01/07/2011 - 09:37 | Link to Comment jus_lite_reading
jus_lite_reading's picture

That's the December figure, which Bernake will use to say that QE was a 100% success.

When a country becomes a banana republic, expect to see shocking official statistics...

 

Now we wait for the CNBS spinmisters... they can't deny that 250k people have simply vanished each month unless aliens took them! 

Fri, 01/07/2011 - 09:40 | Link to Comment Sancho Ponzi
Sancho Ponzi's picture

Civilian Labor Force (000's)

November 2010 153950

December 2010 153690

...so the labor force contracted by 260k in one month. Welcome to the new normal.

Fri, 01/07/2011 - 09:45 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Stephen Hawking's yellow octopi looking aliens must have taken them...

Fri, 01/07/2011 - 09:53 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Pork prices are down. Just sayin...

Fri, 01/07/2011 - 10:05 | Link to Comment Sudden Debt
Sudden Debt's picture

WINTERBARBEQUE TIME!!!

Fri, 01/07/2011 - 10:07 | Link to Comment tmosley
tmosley's picture

Feed is too expensive, so pig farmers are liquidating much of their herds.

Enjoy it while it lasts.

Fri, 01/07/2011 - 10:16 | Link to Comment SRV - ES339
SRV - ES339's picture

Wash your mouth... Rodent!

Now, haven't I told you about giving those banksters ideas?

Fri, 01/07/2011 - 10:21 | Link to Comment small watcher
small watcher's picture

Soylent greenshoots?

Fri, 01/07/2011 - 09:49 | Link to Comment John Law Lives
John Law Lives's picture

The shysters can put all the spin they want on employment data.  The piece of data they will not be able to spin will be sales tax receipts from all 50 states.  If people don't have jobs, sales tax receipts will suffer.  It is not surprising how deep the budget deficits are running in many US states.  Maybe QE4 will address that on a broad scope (I think QE3 will target muni bonds in specific metropolitan areas).

USA = Total chickenshit

They want to print money and lie to us all about how "good" things are.  There is no collective will power to take our medicine and enforce austerity.  I figure The Ben Bernanke will be named Time Magazine's Person of the Year again before the collapse.

 

Fri, 01/07/2011 - 09:56 | Link to Comment trav7777
trav7777's picture

Fuck austerity...that is code for pay the bankers back the money they never had but lent anyway, plus interest.

Fuckit, print it.  Nothing can change this outcome

Fri, 01/07/2011 - 10:26 | Link to Comment jus_lite_reading
jus_lite_reading's picture

+14 TRILLION! Amen borther!

Fri, 01/07/2011 - 10:45 | Link to Comment Kina
Kina's picture

Maybe the right answer is to hope for QE n to get the biggest implossion possible and the geater likelihood that mobs will rampage teh streets looking for banksters, corrupt congressmen and every regulator they can lay their hands on...especially the CFTC, where congressmen will be too shit scared to work against J6P who is sitting out the front door with his shotgun.

Fri, 01/07/2011 - 12:18 | Link to Comment LooseLee
LooseLee's picture

Sign me up! I've been calling for something like this for several years now! Until this happens there will be NO CHANGE!

Fri, 01/07/2011 - 09:39 | Link to Comment Max Hunter
Max Hunter's picture

I'd have to say somewhere between 500-700k..

Don't we get the birth-death adjustment this month?..

Fri, 01/07/2011 - 09:51 | Link to Comment TheJiddish
TheJiddish's picture

I originally read this as "bird-death" adjustment.

Fri, 01/07/2011 - 10:03 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I luld

Fri, 01/07/2011 - 09:33 | Link to Comment Rockfish
Rockfish's picture

Here comes the spin brought to you by CNBS

Fri, 01/07/2011 - 09:48 | Link to Comment LongSoupLine
LongSoupLine's picture

Here comes the spin brought to you by CNBS

 

Yep, and to really fuc it up, they have former Fed, Meyer and Moody's, Zandi to provide "cutting edge" analysis.

 

Those fuctards couldn't make a dry ham sandwich right, let alone have the ethics, morals and intelligence to puke up an honest thought.

Fri, 01/07/2011 - 09:34 | Link to Comment the not so migh...
the not so mighty maximiza's picture

how can this be? 

Fri, 01/07/2011 - 09:34 | Link to Comment poopyjim
poopyjim's picture

So what was up with the bogus 500k+ predictions? An excuse to slam gold?

Fri, 01/07/2011 - 09:33 | Link to Comment youngman
youngman's picture

They lowered the pool of workers...lol....so you don´t have a job for a couple of years....we just eliminate you.....but do you get free health care and food stamps.....right now food stamps is better indicator of our economy so far....they don´t get cut off of the benefits do they.....

Fri, 01/07/2011 - 09:34 | Link to Comment unwashedmass
unwashedmass's picture

 

bloomberg now talking bout "revisions" in the months ahead.....

and making all sorts of noise about how this is good, not bad.

jesus. when are we going to look reality in the eye?

i guess when JPM and GS think they've stolen everything they possibly can

Fri, 01/07/2011 - 09:37 | Link to Comment John Law Lives
John Law Lives's picture

I wonder if a memo was sent to all the major media outlets to spin every bit of news (good or bad) and cheerlead without ceasing.  This sort of "groupthink" reminds me of the frenzy amongst neocons prior to the invasion of Iraq in 2003.  Every bit of data that doesn't support the view of The Machine is struck down with fervor.

Fri, 01/07/2011 - 09:45 | Link to Comment Dagny Taggart
Dagny Taggart's picture

Right? And the troll-fest on most ZH threads today, I'm thinking someone held a staff meeting...

Fri, 01/07/2011 - 10:02 | Link to Comment velobabe
velobabe's picture

no, they are all just holding their staffs up ^

like the middle finger ^^

Fri, 01/07/2011 - 11:24 | Link to Comment unununium
unununium's picture

"when are we going to look reality in the eye?"

Mariner Eccles answered that question this way: "Never. Not in your lifetime or mine."

Bearded Bennie sits in a building named after him.

Fri, 01/07/2011 - 09:59 | Link to Comment John Law Lives
John Law Lives's picture

Wow.  Junked on ZH for calling out The Machine.  Oh, the humanity...

Fri, 01/07/2011 - 10:06 | Link to Comment Sudden Debt
Sudden Debt's picture

Maybe a Goldman Blog Scout who couldn't resist the urge.

It will become clear once the site is renamed ZeroGoldman.com ;)

Fri, 01/07/2011 - 10:15 | Link to Comment John Law Lives
John Law Lives's picture

Could be.  I wouldn't be shocked if they had a shyster judge (or two) issuing subpoenas to ISPs to reveal the identity of people posting anti-Goldy messages on such forums.  I had better be careful before I get a cease-and-desist letter...

I don't know if you ever view the Yahoo! Finance message boards.  The censorship on the Goldy board is something to behold.  Certain new messages posted on that forum get wiped out with alarming speed.  It is actually scary.

 

Fri, 01/07/2011 - 10:21 | Link to Comment Sudden Debt
Sudden Debt's picture

Makes perfect sense. What did you expect to happen when people are insulting the owners of the US on a yahoo board?

Fri, 01/07/2011 - 09:35 | Link to Comment Racer
Racer's picture

More bad news, BTFD

watch the market soar now

Fri, 01/07/2011 - 09:38 | Link to Comment Shocker
Shocker's picture

The markets are going up either way. If we lost 200,000 jobs or gained 200,000 jobs.
On one hand is great to see we are adding jobs but, you got to wonder if it really means anything.

I posted this before but its relevent, and important.  http://www.dailyjobcuts.com

The number of places going under are staggering, considering its Sears, Kmart, BJ's... Crazy Times

Fri, 01/07/2011 - 09:54 | Link to Comment John Law Lives
John Law Lives's picture

Job creation data needs to be quantified.  If white collar jobs with good wages and benefits are being replaced with low paying service jobs, that needs to be quantified.

Fri, 01/07/2011 - 09:57 | Link to Comment trav7777
trav7777's picture

look at the male vs. female rate within the data; it tells you pretty much what you need to know

Fri, 01/07/2011 - 10:02 | Link to Comment John Law Lives
John Law Lives's picture

Colleges and universities are pumping out more women graduates than men graduates these days.

Fri, 01/07/2011 - 14:58 | Link to Comment trav7777
trav7777's picture

yep...and I'm yet to see a woman up in a highrise building it, nor in one of those buckets by the high voltage lines when the power is out.  Haven't seen a woman picking up trash (gfd what a hard job), still a 5:1 M/F ratio in engineering schools even with the massive crisis-level "outreaches" they do.

When mines collapse, either WV or Chile, where are the women?  You got one token chick on "ax men" and she flat out can't cut it.  If you want to compare "production" versus "service," your M/F UE ratio tells the tale.

Fri, 01/07/2011 - 10:08 | Link to Comment Sudden Debt
Sudden Debt's picture

Funny story here in Europe:

Because of the Dutch deficit and the need for more taxes, the Dutch government decided to TAX PROSTITUTION :)

SO:

Prostitutes are now officially part of the labor force and get unemployment benifits if they should lose their work :)

AND!!

YOU NOW CAN ASK FOR TAX RECEIPTS WHEN YOU VISIT A HOOKER!

Fri, 01/07/2011 - 10:30 | Link to Comment TruthInSunshine
TruthInSunshine's picture

look at the male vs. female rate within the data; it tells you pretty much what you need to know

Good point. I think way too many people fail to glean the worth of that spread. Females are in a recession, while males are in a depression (36% of construction workers across the U.S. are unemployed).

Fri, 01/07/2011 - 11:35 | Link to Comment Fearless Rick
Fearless Rick's picture

Hey, Shocker, don't know if that job cuts site is your work or not, but nice, plain stark reality of economic depression in layoffs, bankruptcies and closings. Excellent.

 

(No Shocker did not pay me to write that.)

Fri, 01/07/2011 - 09:34 | Link to Comment slow_roast
slow_roast's picture

ADP completely discredited?   The Moodys and S&P of jobs calcualations?!

Fri, 01/07/2011 - 09:48 | Link to Comment LeBalance
LeBalance's picture

I would like to remind folks here that TD pooh poohed the ADP number as completely ridiculous and that certain folks here jumped all over "him" for that stance.

Now that "he" has been vindicated would those same persons like to lick the left boot or the right slipper?

Fri, 01/07/2011 - 09:59 | Link to Comment macroeconomist
macroeconomist's picture

I was thinking of exactly the same thing. Apologies needed here, especially from someone who gave a long speech about ethics, journalism and whatever. I can't be bothered to look for the poster now, but was something like "more critical thinking"

Fri, 01/07/2011 - 09:42 | Link to Comment TruthInSunshine
TruthInSunshine's picture

So the whisper number of 450,000 didn't pan out?

103,000???

By BLS(BS) methodology, that's like a half a million jobs lost, right?

Unleash Hell on my command!....err...I mean unleash QE 9.0, says The Bernank.

Fri, 01/07/2011 - 10:28 | Link to Comment RockyRacoon
RockyRacoon's picture

All that matters is that the "rate" is now 9.4%.  That will be the headline number which the proletariat will see.  They won't read the breakdowns in the articles.   Only we geeks care about the details.

Fri, 01/07/2011 - 09:35 | Link to Comment oudwestpossie
Fri, 01/07/2011 - 09:35 | Link to Comment Quintus
Quintus's picture

...and then gets smacked down.  JPM are still on the case.

Fri, 01/07/2011 - 09:38 | Link to Comment unwashedmass
unwashedmass's picture

 

the gold/silver launch to the moon has been delayed for sixty days by the CTFC......for JPM to finish covering .....

ah, the joys of a corrupt government and its regulators. you have to wonder just how much JPM paid the CTFC members for this "favor".....

Fri, 01/07/2011 - 10:09 | Link to Comment tmosley
tmosley's picture

They moved the decision up to next week, actually.

Fri, 01/07/2011 - 10:21 | Link to Comment SRV - ES339
SRV - ES339's picture

... believe there's a 60 waiting period for public review and comment... "we understand Mr. Morgan but, after all, congress did pass a law and we're already very late!" 

Fri, 01/07/2011 - 09:41 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

The good economic news will blowtorch gold all year, a large part of the price is built upon the doomer hyperinflation credit implosion' ... It has nothing to do with JPM, its 4 plus GDP.

Fri, 01/07/2011 - 09:47 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Did Robotrader sodomize you?

Is you peoples spawing?

Fri, 01/07/2011 - 09:55 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

THURSDAY, JANUARY 6, 2011 

Turd ... 


http://tfmetalsreport.blogspot.com/2011/01/looking-forward-looking-back....

 

First, here are 30-minute gold and silver charts. You can see the decline in all its glory but you can also see the future. In gold, a break of 1365 would clearly be bad. However, a move back UP through 1385 would be very positive. Silver looks better and may lead big bro gold higher. As long as the 28.60-80 area holds, we look fine.

Fri, 01/07/2011 - 09:59 | Link to Comment bigdumbnugly
bigdumbnugly's picture

lol, truth.  i can just picture them feeding their infant prodigies little spoonfuls of hopium in their little highchairs while watching cnbc each morning.

Fri, 01/07/2011 - 10:45 | Link to Comment Richard Head
Richard Head's picture

Did you pick up "blowtorch" over on yahoo finance? 

Fri, 01/07/2011 - 09:45 | Link to Comment unwashedmass
unwashedmass's picture

you know what's fascinating is that the Comex has now been completely discredited as a source of price discovery on gold and silver.

Premiums are skyrocketing at dealers -- if they have the metals. And my local dealer told me that he can't persuade his regulars to part with metals for anything near the Comex prices to stock his inventory. Its insane.

so, sell the hard stuff? Cause JPM tells me what its worth?

don't think so.

Fri, 01/07/2011 - 09:35 | Link to Comment sweet_cheese
sweet_cheese's picture

Eugenics, bitchez...oh, wait, that's next week.

Death to the NWO.
Love live teh NWO.

Fri, 01/07/2011 - 09:36 | Link to Comment Temporalist
Temporalist's picture

Best Buy revenue dips 1.6%

BB same store sales drop 4%

NFP worse than the number they sold.

 

 

Fri, 01/07/2011 - 09:36 | Link to Comment GIANTKILR
GIANTKILR's picture

We will end green today!

Fri, 01/07/2011 - 09:40 | Link to Comment ZeroPower
ZeroPower's picture

Yes we will.. 9.6 vs 9.4 is huge. Also, the bernank should give us a nice boost too

Fri, 01/07/2011 - 09:36 | Link to Comment GIANTKILR
GIANTKILR's picture

Double Post. Damn you ZeroHedge!

Fri, 01/07/2011 - 14:04 | Link to Comment Problem Is
Problem Is's picture

That's just the NSA monitoring your domestic terrorist ZH activity...

Fri, 01/07/2011 - 09:37 | Link to Comment eigenvalue
eigenvalue's picture

Silver has been repeatedly nuked for 4 days. Everybody was expecting a positive NFP number.

Fri, 01/07/2011 - 09:37 | Link to Comment sweet_cheese
sweet_cheese's picture

We will end green today....Soylent Green.

 

It's people, bitchez.

Fri, 01/07/2011 - 09:37 | Link to Comment oudwestpossie
oudwestpossie's picture

Soylent Green. Nice movie btw.

Fri, 01/07/2011 - 09:41 | Link to Comment Byte Me
Byte Me's picture

..Going longer biscuit and cracker producers..

(On the Fucking Dip - of course)

Fri, 01/07/2011 - 10:19 | Link to Comment bigdumbnugly
bigdumbnugly's picture

is soylent green like the color of the victoria river?

http://news.nationalpost.com/2010/12/30/victoria-river-mysteriously-turn...

 

Fri, 01/07/2011 - 09:38 | Link to Comment alexwest
alexwest's picture

#jesus. when are we going to look reality in the

pal, get real will yo?

owner of bloomberg sells financial information..
same time he's major of biggest financial center of world..

expecting honesty ? better luck find water on SUN.. :))

alx

Fri, 01/07/2011 - 14:02 | Link to Comment Problem Is
Problem Is's picture

3rd Term Bloom-douche
Declared himself Mayor-Pope of NY...

Legend in His Own Mind
I'm sure Bloom-douche will offer to rescue us by running for Prez in 2012...

How Giuliani-911-Turrets of him...

Fri, 01/07/2011 - 09:38 | Link to Comment No Mas
No Mas's picture

SO QE 3 is assured; S&P 1500 more likely than before.

Fri, 01/07/2011 - 09:41 | Link to Comment onlymyopinion
onlymyopinion's picture

Maybe even a Q4 too.  No need to sell longs now.  SnP 1500 is a lock.  I just wish I didn't reduce my longs to 50% on Monday.  Oh well, hopefully we get a few nice dips this year to add to. 

Fri, 01/07/2011 - 09:40 | Link to Comment Dr. Engali
Dr. Engali's picture

Give me warp 9.5 on those printing presses Benny. I'm giving her all she's got captain, she can't take no more.

Fri, 01/07/2011 - 09:40 | Link to Comment RobotTrader
RobotTrader's picture

JPM and BAC up 2 cents

LVS up $1.60

AIG up $1.80

AMZN up $.78

PCLN still pinned at world record highs.

Gold and silver crushed

Mark Zandi looks like he is still using the tanning bed.

Not much has changed, jobs numbers appear to be a non-event.

Fri, 01/07/2011 - 09:55 | Link to Comment oogs66
oogs66's picture

BAC CDS wider.  BAC 10yr bonds lower again, and 25 bps wider on the week.  Credit indices all leaking post number.

 

Maybe Mozilo is throwing in tanning sessions as part of mortgage settlements. 

Fri, 01/07/2011 - 10:51 | Link to Comment Richard Head
Richard Head's picture

"World record", give me a break.

Fri, 01/07/2011 - 11:16 | Link to Comment Temporalist
Temporalist's picture

Oh Robo you are such a shill.

Gold now up around $20 from $1350s to $1370s

Fri, 01/07/2011 - 09:39 | Link to Comment Saxxon
Saxxon's picture

Think of Geithner's remarks yesterday.  He had to know the NFP number.  Was it a tell?  Would he have said what he said if he knew NFP was strong?

Fri, 01/07/2011 - 09:39 | Link to Comment Salinger
Salinger's picture

health care and service sector 'the only good news' and a half million off the cliff into a "non-statistical space"

Fri, 01/07/2011 - 09:40 | Link to Comment Archimedes
Archimedes's picture

Get that Barclay's guy back on!

Fri, 01/07/2011 - 09:41 | Link to Comment PigsOnTheWing
PigsOnTheWing's picture

9.4%. Right.

Fri, 01/07/2011 - 09:43 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

Nice call yesterday Barclays. Looking for 588,000 payroll gain. You were close.

Fri, 01/07/2011 - 09:40 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Bloomberg reporting edges ever more closely towards CNBSC style denial-isn't-just-in-egypt propaganda.

Fri, 01/07/2011 - 09:44 | Link to Comment the not so migh...
the not so mighty maximiza's picture

More people fell off the cliff then lost jobs,  this is great.

Fri, 01/07/2011 - 09:46 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Death Panels, bitches.

Fri, 01/07/2011 - 09:59 | Link to Comment the not so migh...
the not so mighty maximiza's picture

into the meat grinder , bitches

Fri, 01/07/2011 - 09:44 | Link to Comment the not so migh...
the not so mighty maximiza's picture

.

Fri, 01/07/2011 - 09:44 | Link to Comment notadouche
notadouche's picture

Wow CNBC struggling to spin this in a good way now talking about how it will be ammended next month.  It's like they were ready to break out the pom poms and don't know what to do now this number came out.

Fri, 01/07/2011 - 09:53 | Link to Comment Quinvarius
Quinvarius's picture

I know.  It was amazing how they said the numbers were way too good and had to be an abberation.

Fri, 01/07/2011 - 10:02 | Link to Comment Bob
Bob's picture

Very suprising that they allowed so much negative guest commentary.  That done, they returned to their sponsorship of the meme that fiscal discipline demands immediate social security reform.  Such radically forward thinking about the most pressing issues . . .

Fri, 01/07/2011 - 09:45 | Link to Comment Boilermaker
Boilermaker's picture

DOW futures dropped from +30 to -50 in about 5 seconds then, IMMEDIATELY, ramrodded back to parity.  They are now hanging at FV.

Wierd.

Fri, 01/07/2011 - 09:49 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Down days have been outlawed.

Can't let terroristic-minded sellers outnumber buyers and burn the new American Capitalism of bid-ask on innovative and imaginative price-model theory.

Fri, 01/07/2011 - 10:05 | Link to Comment Cdad
Cdad's picture

You can thank L. Blankfein for that.  Check your oil futures chart.

Fri, 01/07/2011 - 09:45 | Link to Comment Kristian
Kristian's picture

Rest assured, tonight Bernanke speaks. We're on track, more POMO interventions, whatever.

Fri, 01/07/2011 - 09:45 | Link to Comment pat53
pat53's picture

market will soar today, get in now at the lows of the day. If the bears can't take this down with a weak jobs number, they will cave in by mid-day at the latest and cover en-masse

Fri, 01/07/2011 - 09:51 | Link to Comment RobotTrader
RobotTrader's picture

Casinos, homebuilders appear to be the most popular sectors go get HeatMapped up today.

Fri, 01/07/2011 - 09:53 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

heat map your head

Fri, 01/07/2011 - 09:52 | Link to Comment taraxias
taraxias's picture

Still have TheBernank's cock in your mouth I see. Get your face out of his crotch, you'd be able to see the truth better.

Fri, 01/07/2011 - 09:49 | Link to Comment iota
iota's picture

Well that was underwhelming, I shall sell! Fuck no, rally on!

Wait! Let's just flop around like an epileptic at a rave! Superb idea!

I hate the NFP circus.

Fri, 01/07/2011 - 09:52 | Link to Comment Racer
Racer's picture

It certainly is... a complete sham/illusion to con people into thinking these things matter when all that matters is how many stops can be triggered/how many suckers can they catch who trade on fundamentals still to their complete detriment as the banksters steal their money yet again

Fri, 01/07/2011 - 09:48 | Link to Comment oogs66
oogs66's picture

Don't you realize the amusements and gambling sector added 16k jobs and that is really more important than any so called 'headline'?  Okay, the talking heads haven't resorted to quite that level, but its ridiculous the selective choice of what data to use to make their 'bullish' arguments!

Fri, 01/07/2011 - 09:50 | Link to Comment youngman
youngman's picture

Is it just me or does anyone else feel a little wierd as to what is going on.....this number was BS...but futures level...gold and silver down...treasuries up??????  Dollar plunged...but right back up...HUH?

Fri, 01/07/2011 - 09:55 | Link to Comment JLee2027
JLee2027's picture

Gold/Silver popped about 1% after the jobs number came out....not much of a pop!

Fri, 01/07/2011 - 09:50 | Link to Comment lynnybee
lynnybee's picture

it's dog-eat-dog out there in my state, OHIO ......... we're fighting each other like low-life dogs just to get a damn $8/hour PANERA job !! ....... baking bread @ 4:30 a.m. , & be grateful for it, you dogs ........

Fri, 01/07/2011 - 09:52 | Link to Comment Quinvarius
Quinvarius's picture

I thought Panera was a short until you just said that stuff about them using slave labor.

Fri, 01/07/2011 - 09:49 | Link to Comment Quinvarius
Quinvarius's picture

Watching CNBC you never would have known how bad those numbers were.

Fri, 01/07/2011 - 09:49 | Link to Comment MiningJunkie
MiningJunkie's picture

Great news for stocks. Good news would have been horrible for the market because it would shut down the PPT and the Epsom printers. More Zimbabwe-pumping to drive the S and P to Goldman's target.
Buy buy buy !!!!!!

Fri, 01/07/2011 - 09:49 | Link to Comment pazmaker
pazmaker's picture

The piddling amount of jobs that are being created are mainly in the service sector, which equates to low paying barely livable wage. Eventually who will we serve if no one is producing?

Fri, 01/07/2011 - 09:54 | Link to Comment the not so migh...
the not so mighty maximiza's picture

The bailout girly men will be demanding service.  Remember what they did in the kitchen? 

Fri, 01/07/2011 - 10:21 | Link to Comment Bob
Bob's picture

Are there no prisons?  Are there no workhouses? 

Fri, 01/07/2011 - 09:51 | Link to Comment V for Vendetta
V for Vendetta's picture

Did you hear about Ben outsourcing greenback printing to China?

Fri, 01/07/2011 - 09:54 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

spending trillions got us this number??

logic would dictate that 2 trillion more and

we would be at 9% UE with 10 million less workers in the pool..

UE continues to be a very scary canary but no one seems to care.

Fri, 01/07/2011 - 09:54 | Link to Comment Racer
Racer's picture

Bad news = Permanent POMO = Stocks soar on free money

Fri, 01/07/2011 - 09:52 | Link to Comment docj
docj's picture

Well, have to admit I never would have guessed the Ministry of Truth would ever put-out a semi-believable number.  But here it is.

Fri, 01/07/2011 - 09:53 | Link to Comment Ferg .
Ferg .'s picture

103K . After all the hyberbolic talk all we get is 103K ? Honestly , why do analysts insist on gambling their credibility with wild entirely unrealistic predictions . I'd love to see the reaction of those who were forecasting a print of close to half a million . Where was the basis for it ? Once again the ADP numbers have failed to be reflected in the NFP's . The ISM manufacturing employemnt index and the ISM non-manufacturing employment index both showed declines . This disappointing number ( relative to predictions ) really shouldn't be that surprising .

Fri, 01/07/2011 - 09:55 | Link to Comment TruthInSunshine
TruthInSunshine's picture

So this is how it felt in the U.S.S.R.....

 

.....aaaaaaaaaahhaaaaaaaa....

Fri, 01/07/2011 - 10:00 | Link to Comment Sudden Debt
Sudden Debt's picture

and they also went bust overnight "without any prior indication". ;)

 

Fri, 01/07/2011 - 09:55 | Link to Comment Gordon Freeman
Gordon Freeman's picture

"95% confidence interval" Man, that last 5% is a BITCH!!!!!!!!

Fri, 01/07/2011 - 12:33 | Link to Comment Captain Kink
Captain Kink's picture

The tails are now fatter than the supposed bell...

Fri, 01/07/2011 - 09:56 | Link to Comment Tic tock
Tic tock's picture

What the fuck is the dollar doing?

Fri, 01/07/2011 - 09:58 | Link to Comment Sudden Debt
Sudden Debt's picture

The US needs 125.000 job growth EACH MONTH, just to keep up with the birth and immigration numbers.

So unemployment went UP!!

Fri, 01/07/2011 - 11:08 | Link to Comment Don Birnam
Don Birnam's picture

+1

Fri, 01/07/2011 - 10:01 | Link to Comment pat53
pat53's picture

futures just went +, told ya so !!

Fri, 01/07/2011 - 10:01 | Link to Comment jbc77
jbc77's picture

Futures now green, unreal.

Nothing makes sense anymore.

 

Fri, 01/07/2011 - 10:10 | Link to Comment Boilermaker
Boilermaker's picture

Of course it makes sense...to the asswipes controlling it.

Fri, 01/07/2011 - 10:03 | Link to Comment onlymyopinion
onlymyopinion's picture

Just another reason to remain long this market.  Debt ceiling will get raised and a very good chance of more QE's.  Certainly someday it will end but it doesn't appear it's going to be any time soon. 

Fri, 01/07/2011 - 10:02 | Link to Comment trav7777
trav7777's picture

well, at least it wasn't -500k, eh?

Fri, 01/07/2011 - 10:07 | Link to Comment TruthInSunshine
TruthInSunshine's picture

As Shakespear or some famous guy once said - "All the world...it's a fucking stage...ya' know?"

Fri, 01/07/2011 - 10:14 | Link to Comment bigdumbnugly
bigdumbnugly's picture

yeah, and the big boys are almost done positioning themselves to exit stage left.

Fri, 01/07/2011 - 10:10 | Link to Comment Tic tock
Tic tock's picture

That would've been extremely unexpected..

Fri, 01/07/2011 - 10:08 | Link to Comment velobabe
velobabe's picture

tyler your simply amazing, you had me @ ADP†

did you get my email?

Fri, 01/07/2011 - 10:11 | Link to Comment Tic tock
Tic tock's picture

..I suppose the logic is..if we can get past the bad, then we can make use of the good.

Fri, 01/07/2011 - 10:11 | Link to Comment ciscokid
ciscokid's picture

Strange why gold and silver are still not spiking
higher

Fri, 01/07/2011 - 11:17 | Link to Comment jomama
jomama's picture

because the heavily manipulated daily pricing isn't a reflection of its actual value?

Fri, 01/07/2011 - 10:13 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

ADP was close. Very predictive and useful tool that ADP report.

Fri, 01/07/2011 - 10:12 | Link to Comment Boilermaker
Boilermaker's picture

LMFAO...they're actually cranking the futures UP...

This is as crooked as my hound's hind leg.

Truly corrupt and absurd.

Fri, 01/07/2011 - 10:17 | Link to Comment Cursive
Cursive's picture

The report actually used the term "job losers."

Fri, 01/07/2011 - 11:20 | Link to Comment TruthInSunshine
TruthInSunshine's picture

LMAO!

It's all in the context, I guess.

Fri, 01/07/2011 - 13:54 | Link to Comment Problem Is
Problem Is's picture

Because the BLS fucks... as incompetent (statistically) as they are...

Are employed "job winners."

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