NFP Prints 114K, On Top Of Expectations Of 115K; Unemployment Rate Tumbles To 7.8% On Expectations Of 8.2%
Complete preelection "massaging" farce.
The Labor force participation rate rises from 30 year lows to 63.5% to 63.6%:
The reason: the biggest reported jump in the number of employed people since January 2003, at +873,000 to 142,974. At least according to the Household data survey, which just happens to be used in the calculation of the unemployment rate. Just little bit off from the Establishment survey of +114,000.
and the diverging path of U-3 and U-6 unemployment rates...