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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...
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B_U_L_L_S_H_I_T_!!!!!
New Month, Same old Stuff
Daily Layoff / Closing List Below
http://www.dailyjobcuts.com
.
Someday they're gonna come out winning....and I'm gonna be totally screwed up.
Surely Surly said it...under eight by November...yep.
Reduce unemployment, save the world. Hang all Banksters, Now!
Apparently one of the bankers is up early.....I thought all those guys slept till noon.
The MSM is gushing with praise over the headline number. It is sickening to watch.
Chris Matthews has a thrill running down his left arm
Might want to get that checked out by a doctor Amigo.
Yesterday was a "Romney Rally".
Do we get an "Obama Selloff" today?
Time to give the liar in chief the boot! Highest one month gain in 29 years my ass. This is blatant manipulation of the numbers by a desperate despot hoping to cling to power. Despots have done this sort of thing for ages, nothing new under the sun. If the numbers don't suit you, just make some new ones up that you do like. There needs to be an investigation into this anomaly.
Uh - no - don't.
Man, you just can't make this shit up...
(/s)
They just did.
Don't push us.....or we'll do it again.
Oh yes they did.
I see you just used the <sarcasm> tag. Thank you!
so don't watch
The algos are really struggling to interpret this one. But look at the revisions and read the footnotes to the BLS stats. The revisions are more accurate, the pace of job creation has likely been underestimated.
114,000 people working 30 hours a week at minimum wage with no bennies slingin' fries at McD's...recovery!
In China no-one wants to work in manufacturing anymore. Was just reading about Chinese workers at Foxconn, suicides, riots, confinement to dormitories etc, sounds like a prison. Everyone everywhere just wants to have a job where they can be their own boss, express their creativity and get paid really well for it. But even google employees whinge about the intrusion on their social lives of all that work.
But anyway...next question is what does this mean for QE? Will end sooner than anyone expected, is my guess. Then the bears may have their day - but not if they keep holding gold.
Labor participation rate dropping like a stone since 2009 and also U3 and U6 dropping? Did 7% of the population hit retirement age in 3 years?
7.8%? That's a US number, right, like US gallons. So what would that be in UK imperial? Nearer 11%?
11% in imperial and 22% in metric.
The global recovery is strengthening. This is slow but steady progress. The sharp improvement in the unemployment rate is a clear testament to the green shoots in not only America but also the global economy. Where is the collapse that doomer libertarians have been talking about?? Where is the hyperinflation??? I'm still waiting ...
The only thing strengthening is the grip of the administration on the hand-job that the "data" is getting.
You'll soon see that my and MDB's prediction of gold going to 250 a pound will be realized as the economy continues to gather strength and the manufacturing sector rebounds strongly, significantly sending the dollar higher
You speak as if you and MDB are two different people...
Anyway, if you want a P.O. box to ship all your physical gold, I'm happy to relieve you of it.
we ARE two different people, no, no seriously HA HA
Richard M. Nixon: "And you can believe me....'cause I never lie"
Well, if you are separated, it is only by a thin layer of latex.
Thank heaven for MDB huh Jon?
Now go sit by Jimmy Carter.....he sucks at market calls too.
net 16k jobs lost in manufacturing during a month with the highest jump in employment in 29 years. Amazing, all hail the great Obama manufacturing revolution!
Jack Welch "Unbelievable jobs numbers...these Chicago guys will do anything...can't debate so change numbers."
Here's a jobs report.
http://www.huffingtonpost.ca/2012/10/05/canada-unemployment-september-20...
Would be eqivalent to the USA adding 500,000+ jobs mostly in manufacturing. AND the unemployment rate went UP.
"Green Shoots?" Are those Gangbangers who support the Environment?
More like society's yearly ration of young, unemployable, drop outs who turn into newby gangsters with hand me down guns.
CNBS and the rest of the MSM are having a hard time with numbers today. The BS meter from the gov went to Infinity and the MSM is wondering if they need to go all in.
Jim Cramer went all in.
http://www.trollhunterfilm.com/
(that was a surprisingly entertaining film, btw. although I think the thing was more of an ettin than a troll.)
You used "green shoots", thanks for that.
The only thing stronger than the global recovery is your FaceBook stock.
Oh, wait...
Hey my brother from another mother, I see you must have raised bail !!!
Hope & change
More like Change (the numbers) and Hope, maybe?
It's right there under those trillions of liquidity.
Patience, precious.
THE CHICAGO MACHINE STRIKES!!!!!
Fairy dust
Hey, Million Dollar Bogus, just remember that green shoots can be found in cemeteries as well. But let's wait and see what tax collections from wage and salary earners come in at.
"green shoots can be found in cemeteries"
So can many Democrat voters!
All comes to those that wait MDB.Very droll, er, troll of you.
If you wait long enough maybe you will profit on your FB shares,shame that money
will not buy anything of any value at all..
People should actually hope this is not a sign of a real recovery, because hyperinflation will ensue like a waterfall with all the dollars behind the dam. The Fed will be helpless(er).
Don't own a car do you.
pravda or izvestiya. theres no news in the truth and no truth in the news
It's all fixed. Yippee!!!
If true, then fire all the folks paid to project these numbers cause they royally suck.
Thanks, hadn't seen that site before!
Didn't Santelli call it over a month ago. He said it didn't matter what happens in the economy it would be below 8%
Axlerod saw this coming.
Silver got flash-crashed there...
Yeah.....it happens......a lot.
Pretty much every morning these days.
quick bounce back..... better act fast if you want to buy dips these days....
This time it makes sense though because the U6 looks so good Obama should be elected and Bernenke reappointed so......wait a minute.....what?
There was a Flash Crash late yesterday afternoon, also> http://www.flickr.com/photos/20144722@N04/8055289977/in/photostream <Who conducted all those trades at $34.60?
It was due for a stop running attempt. But, in an uptrend, these things usually preceed a big leg up.
Yeah...PMs just got slammed.
Hoowudathunkit?
Yes, a well-contrived and cunning plan.
"Thanks, JP!"
"Anytime, BO."
I'm in the market for a couple hundred ounces, so 'Slam Away!'
Glad our man Chilton is on the case. He's been hard at work, really watching those bankers really really hard now for over four years! He totally has our back! I love it when he comes on CNBC from time to time and talks about all the progress he's making! He's not like all those other CFTC commissioners who don't care about us silver investors! He's gonna catch them PM manipulators red handed real soon like...real soon like...just you watch and see!
Sorry, gotta go barf now...
This bullshit does my head in.
Andrew Maguire has been writing the CFTC about NFP pm manipulation since 2010:
http://www.zerohedge.com/article/whistleblower-exposes-jp-morgans-silver...
Yeah...but no need for position limits, huh?
Household survey jobs SURGE by most in over a decade?!?!?!?!?!? I guess the new Wendy's workers have landlines so they can be telephone surveyed...............
No, no, no...you've got it all wrong, they use Obamaphones.
..."they use Obamaphones."
For 2012 I will have paid $162 for Federal Universal Service Charge and state Universal Service Fund. Asswipes - I hate them all (banksters, TPTB, politicians).
Mitt just peed his pants....
It's all good; them magic undies are very absorbent.
Filed under things Obama should have said.....but didn't
he's like the cat in the Scrodinger box both dead and alive at the same time, both of which are bullish, of course
NFP: this is Charles Bidermann's raging bile duct.
Bullshit Labor Statistics...
'Bammy Lies Sucka!
Bastard
Lying
Shitheads
"Meanwhile, back at the ranch", the number of people of food stamps and disability rises....
7.8%?
I call bullshit.
I want to see labor force participation rate.
Damn Ministry of Truth. Damn them all. It was obvious this would be the case after the ass-kickin' that Barry took on Tuesday. Reeks of desperation.
Easy Peazy; I guess everyone gave up looking for a job.
Where's my Obamaphone?...
KEEP OBAMA IN PRESIDENT, MOTHERFUCKERS!
ROMNEY HE SUCK
Crack the whip dammit.....I'm paying for this crap!
After the election, the BLS will announce that they made a temporary change in methodology for the months of September and October:
- Anyone observed with a newspaper in his hand was counted as a self-employed paper route operator.
- Anyone selling one item on e-Bay was counted as an employed retail business operator. A base of 100 such individuals was identified and extrapolated to account for hundreds of thousands of newly identified successfully employed small retail business operators.
- Anyone driving through a toll booth was counted as driving to work and therefore employed.
- Anyone seen actually moving in any fashion at all was determined to be on their way to reporting for work. This includes merely walking and all forms of public transportation.
After the election, the BLS will announce that they made a temporary change in methodology for the months of September and October:
- Anyone observed with a newspaper in his hand was counted as a self-employed paper route operator.
- Anyone selling one item on e-Bay was counted as an employed retail business operator. A base of 100 such individuals was identified and extrapolated to account for hundreds of thousands of newly identified successfully employed small retail business operators.
- Anyone driving through a toll booth was counted as driving to work and therefore employed.
- Anyone seen actually moving in any fashion at all was determined to be on their way to reporting for work. This includes merely walking and all forms of public transportation.
C'mon. We all knew it was gonna happen.
...and at the same time we really didn't believe they would do it.
Because to do so would affirm our worst fears.
We are being lied to every day.
Total BS!
Give the election to Obama.
Bullshit....make him pay for it like everyone else.
Bullshit
SHOCKER THE GOV LIES!
'Lie' is such a strong word..... Didn't one of W's gusy say ' we make our own reality'? Face it - government's 'reality' (no matter who is in charge) is vastly different from what most people see as reality.
MOPE - is Management of PERSPECTIVE Economics..... It's all about manipulating what people THINK - not what's actually happening.
So where did the .4% of people get dissapeered to? soylent green?
Would you like another helping? We have extra.
Soylent green shoots
We are saved.
"We are saved."
Well, yes and no.
On the "y" side, it remains true that we are shaped not only by perception, rather than by reality, but also by a deeper degree of non-reality. We are shaped by perception of illusion.
We eagerly look forward to the monthly nfp and then lament it as bs. It's as if we forget that the US manufacturing base was gutted and that labor's share of GDP has been decimated.
Now for the "n" side. US manufacturing and service jobs were knowingly and purposefully outsourced to cheaper labor pools. US employment has therefore declined. Duh.
What a crock of shit!
As mentioned, one letter too many in BLS!
Dyslexics of the World, Untie! I'm thinking 8.7% (x2 or x3?)
Yes, there is a dog...
What a fuckin' shock!
What a fuckin' joke!
bullshit
So we should see those food stamps numbers drop real fast...lol....and less Obama phones too...
As I have mentioned, whatever the data points are, equity markets will soar.
we share the same thoughts you could have had a -500k. you still would get a ramp. no intentions of pondering this game till mid nov. until then dont even think of fundamentals regarding the market. just stay the fuck out and dont feed this silly con
Why not 5%?
don;t wanna jeopordize their "credibility" ...... just shoot me
That's the November print...
at a .3% drop a month we will be at 0% in 26 months ;)
Obummer got an early Christmas present from the Bullshit Labor Statistics Depeartment!
Break out the champagne and caviar!
Bullish for Caterers and Undertakers!
LIES! LIES! LIES!
1,000,000 part time jobs at 7-11 and PayDay Loans counted in---check!!!
Man was I expecting this...wait till that 450k birth death model prints.
Now Pres has some ammo in the next debate. The bad news is all those imaginary people they claim are working now still do not have jobs and will vote accordingly.
@John McCloy
Good to read you this morning. Where've you been?
Haven't seen John around here in ages...
Hahaha.
Poor people don't fucking vote in this country.
Until you give them a free phone.
What's also sad is that Romney won't expose how the numbers are a fraud, because if he did he wouldn't be able to use the same method to pull the wool over the sheeps eyes if he is elected.
You have a very limited knowledge of the Republican playbook.
Hypocrisy is a cornerstone.
Did you get that from "CIA Operative" Valerie Plame, or moveon.org...?
Massaging? A fancy name for masturbation.. and this jerk-off number will give the O a hard on.
It's sure to give Rachel Maddow one...
This was SO PREDICTABLE!!!
Anyone with a clue knew that Obama would have this rate below 8% before the election...why are you all so shcoked?!?!?
Not shocked, DISGUSTED.
Is there anyone who buys this shit?
Yes unfortunatly there is.....
49% of the potential voters. Might be 51% now...
Since when did we need an election for this. They have been manipulating everything for years, wake up
HHAHAHAHAAHHAHAAAAHAHAA
We're saved!!!
I guess this means QEinfinity is over?
I smell bullshit.
Bamboozled ...
We are roaring back
Green shots
Lime Jello shots? In that case I'll take 7.8 right now.
I'm happy for my short long-term tsy position...But, does anyone have a doubt that this is all a fucking pre-election lie?
LOL Obama saves the day. Just put a 0 up there. Fuck it. At this point it doesn't even matter. Funny thing is right after elections it will be back above 8% even though 8% is total bullshit. More like the teens is where we currently stand.
If Romney wins....it will jump to 8-9-10%...and the press will say.." when Obama left office he gave the Republicans a 7.8% unemployment rate..and look what the Republicans have done"
Yes i agree. MSM has to keep the sheep fighting over whose team is better(red or blue).
And whatever jersey color they pick, all they are really getting is brown.
Doubleplusgood news
http://en.wikipedia.org/wiki/Newspeak#To_remove_synonyms_and_antonyms
What about the Revised NFP 142 K actually this month we r lower than last month not higher . ? am i correct