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157,000 Jobs Added In January, Unemployment Rate At 7.9%
The goldilocks economy continues as January nonfarm payrolls number comes in right as expected, or 157,000, a tiny miss to expectations of 165,000, down from the upwardly revised 196,000 (was 155,000 previously), leading to an unemployment rate of 7.9%, higher than the 7.8% expected. The seasonal adjustment for January was in line with expectations, or 2.120 million, as the actual decline in jobs December to January was a whopping 2.84 million. The NSA Birth/Death adjustment subtracted some 314K jobs in January.
From the Household survey:
The number of unemployed persons, at 12.3 million, was little changed in January. The unemployment rate was 7.9 percent and has been at or near that level since September 2012. (See table A-1.) (See the note and tables B and C for information about annual population adjustments to the household survey estimates.)
Among the major worker groups, the unemployment rates for adult men (7.3 percent), adult women (7.3 percent), teenagers (23.4 percent), whites (7.0 percent), blacks (13.8 percent), and Hispanics (9.7 percent) showed little or no change in January. The jobless rate for Asians was 6.5 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
In January, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.7 million and accounted for 38.1 percent of the unemployed. (See table A-12.)
Both the employment-population ratio (58.6 percent) and the civilian labor force participation rate (63.6 percent) were
unchanged in January. (See table A-1.)
The number of persons employed part time for economic reasons, at 8.0 million, changed little 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.)
And from the Establishment survey:
Total nonfarm payroll employment increased by 157,000 in January. In 2012, employment growth averaged 181,000 per month. In January, job gains occurred in retail trade, construction, health care, and wholesale trade, while employment edged down in transportation and warehousing. (See table B-1.)
Employment in retail trade rose by 33,000 in January, compared with an average monthly gain of 20,000 in 2012. Within the industry, job growth continued in January in motor vehicle and parts dealers (+7,000), electronics and appliance stores (+5,000), and clothing stores (+10,000).
In January, employment in construction increased by 28,000. Nearly all of the job growth occurred in specialty trade contractors (+26,000), with the gain about equally split between residential and nonresidential specialty trade contractors. Since reaching a low in January 2011, construction employment has grown by 296,000, with one-third of the gain occurring in the last 4 months. However, the January 2013 level of construction employment remained about 2 million below its previous peak level in April 2006.
Health care continued to add jobs in January (+23,000). Within health care, job growth occurred in ambulatory health care services (+28,000), which includes doctors' offices and outpatient care centers. This gain was partially offset by a loss of 8,000 jobs in nursing and residential care facilities. Over the year, health care employment has increased by 320,000.
Employment increased in wholesale trade (+15,000) in January, with most of the increase occurring in its nondurable goods component (+11,000). Since the recent low point in May 2010, wholesale trade has added 291,000 jobs.
Mining employment increased (+6,000) over the month; employment in this industry has risen by 23,000 over the past 3 months.
Employment edged down in transportation and warehousing in January (-14,000). Couriers and messengers lost 19,000 jobs over the month, following strong seasonal hiring in November and December. Air transportation employment decreased by 5,000 in January.
Manufacturing employment was essentially unchanged in January and has changed little, on
net, since July 2012.
The labor force participation rate remained the same:
Birth death adjustments:
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This has been one heck of a recovery
Layoff/Business Closing List
http://www.dailyjobcuts.com
I am confused. So unemployment goes up from 7.8 to 7.9% and this is cause for celebration.
Is it just me ?
It's the new AMZN grading scale. Get with it.
MOAR QE needed
Bullish
The Bernank, after inflating some of the largest asset bubbles (and the widest variety on a simultaneous basis, from equities to bonds) in the history of fractional reserve central planning monetary policy/alchemy, wakes up each morning with one thought dominating his frontal lobe:
http://www.marketwatch.com/story/why-the-correction-may-have-started-2013-02-01
It was the weather! The Fed said so!
you know the data's got to be bad if the UE headline rate went up but at the same time participation rate goes down...
what would the UE rate be if you actually counted all those people who are, you know, unemployed? 17%? 20?
The spin I heard on National Propaganda Radio this morning (I listen for absolute entertainment value) was that economists & anal-cysts fear that the 8 million long term unemployed (in reality, closer to 15 million ltu if one counts those actually trying, and 35 million ltu if one counts inner cities) will try and find jobs again, which will cause the unemployment rate to skyrocket.
So that is just yet more evidence of how robust this recovery is.
trav, it's gonna get worse. I know 2 small businesses that closed shop this week. Could not handle the postal rate increase ...crushed their already tiny profit margins. I don't know how the numbers will fudge (hide) all these small owners going under.
I'm putting cyber FRN's where my mouth is and buying some Feb. XLF puts. And if it pays off I'll convert it all into physical silver. Fuck Bernanke and all the other bankster criminals like him.
Any news is news worthy of +10 ES
The good news is: the bad news was worse...
Gotta have an excuse to keep on pump'n
For PM's it is :o)
It means the Fed will keep flinging money at the market... Mr Market loves that.
and "only" 1B in POMO scheduled for today.
It's been like this for some time now. Where have you been?
Good is good and bad is better than good...
Confusion - for the intelligent independent thinkers? - yes, 100%
.
Does it make sense to all those masses that watch and rely on the 2minute illuminati controlled news report? - yes, 100%
.
Now thats! confusion.
Sure, one more month of negative growth, and we have a technical recession which we can't hide from the public.
@King_of_simpletons
And where is Joe Biden's 500k per month?
500k per month job growth is already here if you include created and/or saved (on a purely speculative, absolutely evidence-less, basis).
Of course it's bullish. It's the new math. More people got a job so therefore more people are unemployed. Simple Bernank Mathematics. And since the Fed is targeting a lower unemployment rate this means that all the big players will keep getting free money and the banks can continue to unload their underwater mortgages to Unlce Ben himself.
It's just you
- Sincerely, the Secret Service, the NSA, and the Federal Reserve
It's actually 22-23 percent. Pass the word.
I was laughing at the talking heads on TV this morning as if unemployment vanished.
This economist seems to be overly negative, however. Or is he right?
http://confoundedinterest.wordpress.com/2013/02/01/more-housing-angst-un...
Obamanomics = where shit = good!
Obamanomics = Economics + Moronics
I tried to explain this to some Libs and other kool-aid drinkers were not in a recovery.I pointed to the job cuts, drop in GDP and all they could say is well that's normal to have ups and down. They also blamed the cuts on Rep run congress and companies.It's hopless trying to explain anything to the Sheep.
I thought last year around this time we were in the 200k area every month. Why is 157k this year goldilocks?
@fonzanoon
I feel you sarcasm. Goldilocks = Whatver BS is Needed to Push Stocks Higher
It's goldilocks I guess because at 7.9% UE, QE4eva is firmly in tact while 157k jobs shows the economy is trudging along and once they get that grand bargain where they slash huge gaps in the deficit and get the debt on the right track growth is going to explode as corporations put their massive stashes of cash back to work. So you may as well get long now because the market is a forward looking mechanism and is already pricing in utopia while keeping rates firm at 0%.
It is good because Obama is still president. Anything that happens while Obama is president is, by definition, good - except for mass murders and similar events, that is.
Had Romney won and been inaugurated, we would already be deluged with reports in the MSM that homelessness is up, poverty is up, job creation is meager, old people are being thrown out into the streets to die...well, you know the litany. Thanks be to Obama, everything is wonderful.
By MSM you mean Fox (the most watched cable news), Rush (the most listened to radio personality), WSJ, Drudge, or something else? Get over your illusion that MSM is right or left -- it is both because the right/left debate keeps these guys in power.
Rush is right, Fox is "ballanced", and MSNBC, CNN, ABC, CBS, CNBC, NPR, and all the others (including most news print) are off the chart left...
Pretty sure he meant the MSM, as in the government propaganda networks...ya know, like CBS, where Steve Croft has an interview with BOTH O'Barry & Hitlary and asks nothing about O'Barry's foreign policy (is there an O'Barry foreign polciy and/or doctrine for instance?) and then fails to ask Hitlary to name just one major accomplishment in her tenure as SS.
Of course, he may have meant CNN where Piers Morgan then interviewed the interviewer, Steve Croft, about his interview with O'Barry & Hitlary, where interviewer Croft didn't ask anything I just pointed out, preffering to just run his nose up their asses as far as he could get it.
Rivetng stuff, that state propaganda.
meh...cable news. Popularity doesn't matter, control of key electoral whale states does.
Besides, in media, what, like 70% self-identify as democrap?
Because Goldilocks was a bed-hopping, theiving, Bitch. Guys fall for that sh*t all the time.
and gasoline prices are up so retail sales will look much better next report, let the farce be with you
plus ofcourse todays ISM will be better than expected etc etc
Look at that monetary policy, working wonders for jobs below the poverty level.
MOAR QE!
Hey. If it weren't for QE, people would have to cut back on getting their shoes shined. More shoe shining, more people employed.
This is Obamas recovery, pain, lies, debt and destruction but no jobs because his agenda is to ruin this country! He has abandoned the jobs council to focus solely on disarming the people and cover-ups.
They want to disarm people based on a few nuts actions but they won't ban religion for pulling this shit on 10,000 kids:
http://www.bbc.co.uk/news/world-us-canada-21289854#sa-ns_mchannel=rss&ns...
"A Church-commissioned report said more than 4,000 US priests had faced sexual abuse allegations since the early 1950s, in cases involving more than 10,000 children - mostly boys."
And those are only the ones that had allegations against them.
Why is it the govt's job to ban anything?
Who will stop you from playing with Lawn Darts™ if not the guv?
A lawn dart in the head is natural selection at work. Don't fight mother nature.
The brutal truth:
The baby boomers ain't getting shit except a pile of fiatscos.
So if 85bil / month ain't working...
Moar WILL??
Hang Bernanke
Hang it HIGH
No more flouride in the drinking water.
Now they are putting in Thorazine!
Even Franz Kafka would have a great degree of difficulty fictionalizing this market.
So why exactly is gasoline included in retail sales numbers but not inflation numbers?
easy...
everything in this world is rigged, it's in ALL Govt DNA to adjust, massage, mutilate, lie, twist, alter, mask what true facts are. They feel they must control everything even if others are damaged! You're being brainwashed!
Got to keep the lemmings in stampede mode if you're going to get them to go over the cliff.
...and cue ZH to shit all over it.
wait for it.
wait for it.
And being the farce that it is, it will be well deserved!
...and scene.
I was really getting nervous with all this talk recently of the FED cutting off QE. Thank god for this unemployment uptick, now we can all rest easily!
I luv the smell of Goebbels in the morning.
Goldilooks means it is a rigged report
Oh, BTW EURUSD is at the infamous Thomas Stolper / GS long target.
A "soft patch" beacause of the "weather" will take more "stimulus" to "strenghten" the "recovery" until it's "sustainable".
2013 is just big O's 1st year of his next 4 years.
What I mean is...it's Bush's fault.
People just haven't gotten all their free phones yet to help them look for that next temp job when all will be moar better.
Trillion plus dollar deficits add 8-10 percent to our GDP. Take that away and da game is over.
Sports analogy, 4th quarter, 1:40 left, we are down 41- 3 and the the fucking politicians are still getting elected by the possibility of pulling the game out. Meanwhile the voting public has filed out of the stadium, dejected and broke.
They are fighting over this number as good...and revisions up....200,000 a month is not even close to what we need to get unemployment down...and what kind of jobs....retail was the big gainer.....not a career job.....but hey big number...headlines...all good....move on...
This year ...Obamacare will lose 2 million tax paying jobs....increase tax users jobs..
New rules, regs...another 500,000 lost
Sequester...another 500,000 lost
Food Stamps..up 5 million
118 k fewer jobs created in Jan 2013 than Jan 2012.
The rate of year over year job growth has fallen from 1.54% in 2012 to 1.37% in 2013.
In no way, shape, or form, is that improving.
You will hear from the ONE that 2.2 million jobs were created last year...over and over again.....and then lightining will strike
Yes, but you are being accurate.
That is not allowed.
If you remove seasonal jobs from both numbers, we'd probably be losing jobs in January YoY.
cnBSc, CNN, msNBSc, cBS, MarketWatch, ABC, Faux News and all corporate media will spin this as part & parcel of the ongoing recovery (a Z shaped recovery now in its 4th year).
Remove more from the official labor force, all will be well, don't worry, be happy!
Dollar Index breakdown imminent!
The EURO just gave back all of last nights rally in 20 minutes...
x-12 ARIMA (otherwise known as GoalSeek) FTMFW!
I can't wait until a Republican is in office in 2016, and these types of similiar reports ignite a "ZOMG! We need to imporve this economy!" from the Obamabots on my twitter feed, who either defend/celebrate the SLIGHTEST of any upticks.
To the free thinker, this is all truly insulting and the level on condescension is at a level I previously thought humanity could never hit.
17K jobs created in food services/drinking establishments.
Father to his son 20 years from now: "So, when I worked at Applebee's during the Obama Administration....."
The 157 will be revised to 181 next month, and all will be good if you are rich.
81 maybe; not 181. All revisions must be downward so all future lower numbers can be reported as increases.
Yea, I just go buy the book.
nothing like the smell of bullshit in the morning, makes me think of being back on the farm! oh wait we're not in kansas anymore, look at all the munchkins , toto
how the mother fucking shit r the mother fucking futures rising nearly up 100 when the unemployment fucking rose to 7.9, non farm payrolls were below expectations, and these bastards think its a good thing?
watching cnbc, i love rick santeli, he is the only one who actually fucking gets it, while fuckers iike liesman, jared fucking bernstein who should just die, all think this is good.
fuck this market, it makes no sense whatsoever, only can this market celebrate a unemployment rate that rises.
of course it does'nt make sense, look at the puppet masters who are running this bullshit market.
Blow off top, expected no matter the NFP print today.
"how the mother fucking shit r the mother fucking futures rising nearly up 100 when the unemployment fucking rose to 7.9, non farm payrolls were below expectations, and these bastards think its a good thing?"
- thismarketisrigged
Irony
It's like per-unit losses, which you'll make up on moar volume
It's like record low interest rates, with record low aggregate demand
And isn't it ironic
"fuck this market, it makes no sense whatsoever, only can this market celebrate a unemployment rate that rises."
Please report to muppet reinforcement studies for thought correction.
Now, repeat after me - DOW 14,000.......
u have been cured.....
it makes perfect sense. the only thing that will slow down qe infinity is lower unemployment. the only bad inflation is wage inflation. try to keep up.
all these new jobs is making me shit out gold bullion
George: Jerry, just remember, it's not a lie if you believe it.
Ben: Barry, just remember, it's not a lie if you believe it.
Kramer (to Jerry): They just write it off.
Jerry: Do you even know what a write off is?
Kramer: Do you?
...it's not a lie if they believe it.
Smiling confident liers.
Foward !
It hurts to be an adopted son of America. I'd rather admit to being Lithuanian.
300mm people in the US. Population growth rate of .9% in 2012 (cia factbook). 300mm*.009/12 months. Napkin math = 225k/month population growth. 157k created.
.... 157 points added. Dow 14,000. Blow horns, slap backs. Party on.
.... Now, is " the Market" going to respond better to an AFC win or NFC?
@el hosel, an afc win, dow will go up 300 pts monday, nfc win, only 200 pts.
one thing we all know, everything is great in this economy, all u need to do is look at the market, that tells the whole story, at least according to all the talking heads on tv.
But less died...or is it more died....oh well..they will "seasonally" adjust it.....do they use Lawrey´s
I'm sure there is a Soylent Green joke in there somewhere, but it's early.
Are you implying this is bullish for napkins? There has to be something bullish to talk about.
dont worry theres a drone flying over the rating agency, with a swat team at the door
where does dow finish today? does it break 14,200 and how about s&p? 1525 today?
omgd im really going to kill someone, this guy on cnbc just said we did not get a catalyst for a pullback today? is he fucking kidding me, today would have been a perfect catalyst for a sell off, unemployment rises, non farm payroll jobs below expectations, and that is not a catalyst????????????
FUCK THEM ALL
!!!!!!!
Jobless rate dropped for people with a bachelor's degree (to 3.7% from 3.9%). Rose for those with no high school diploma, to 12% from 11.7%.
So basically, if you can't afford college, or you refused to go into massive amounts of debt to do so - you are essentially worthless to Corporate America.
Breaking News! DOW aims at 14,000!
"The Markets" did a nice job of sniffing this one out... Futures started to rally right after the close Thursday. Yesterdays selling was sensless and premature given the maco back drop for the US economy. The Fed has our back and Congress has our front, reach arounds available at the Treasury.
This is just statistical noise to create statistical noise. move along now....
"ambulatory health care services" .... an important link in the cradle to grave plan ! Unemployment comp > disability comp > ambulatory comp > walker comp > wheel chair comp > nursing home comp > euthanasia comp > mass grave comp !
Mass grave comp? Is that where the shovel ready jobs are?
Smoke and mirrors. Go ahead motherfuckers, keep lying. The longer the delay, the better the fireworks show at the finale.
It is going to be interesting when they manage to get unemployment to 0% but have the masses eating each others eyeballs out.
How'd ya like to be this poor schmuck that CNBC used to represent the 100 point jump in the DOW futures based on this fact? CNBC CIA M"Fers.
It's all because of those pesky republicans! Considering that these numbers are actually surprisingly good. /s
How to spin data (from Marketwatch): the economy adds one-third of a million more jobs in 2012 than previously estimated.
There were less than one-sixth of a million jobs added in January.
The market truly is an unregulated casino. I thought I saw an article late yesterday where Congress voted to temporarily remove the debt ceiling, but I can't find it this morning. Surely that would have made the illegitimate market sing for joy this morning, despite bad jobs news. I also thought I saw another article about major cash being withdrawn from banks in the first week of January. To top it all off, I saw a June Cleaver at the bank yesterday proudly marching her little Beaver up to the counter and put his allowance in the bank, complete with verbal instructions about the importance of what he was doing and paying attention.. It honestly made me sad. Having taken the red pill makes so many days sad ones.
I think we are in that "30 minutes of silence" time before things get ugly for some people. Prepare accordingly.
lol at this article below
http://www.businessinsider.com/this-really-was-the-perfect-jobs-report-f...
From Joe 'I'm being groomed as Krugman's replacement despite not having any advanced degree, not being an economist (even a terrible one), and being renowned for quantity over quality half-ass scribblings of essays and being schizophrenic' Weaselthal.
Here's just a small sample of Weisenthal's schizophrenic rantings of just the last 20 minutes (try to reconcile these headlines but don't read the articles unless you want to absolutely waste precious minutes of your life):
CHART OF THE DAY: The Scariest Jobs Chart Ever
Joe Weisenthal | 29 minutes ago | 1,030 |
A reminder about how bad this recovery is. Read »
This Really Was The Perfect Jobs Report For The Stock Market
Joe Weisenthal | 18 minutes ago | 395 | 3
No pressure on the Fed to tighten. Read »
Just 157K New Payrolls Added In January, But HUGE Upward Revisions To December And November
Joe Weisenthal | 9 minutes ago | 405 | 2
This is the big one, folks! Read »
Photo of Joe Weaselthal
I'm not worried. Bernanke assured us that recovery is just around the corner:
http://dealbook.nytimes.com/2009/03/15/bernanke-sees-recovery-beginning-...
Looks like the cum belching verbage diagnostical HFT's ramped up in milliseconds on a few 'pre-leaked' numbers.
No surprise here, it's green friday the day that all the stupid cows come home from work with a 12pack and a pack of smokes and watch the news and see everything is ok and decide to spend what is left of their pathetic fucking paycheck.
That's all today is.........and nothing more.
Misleading headline. Should read:
"ONLY 157,000 Jobs Added In January, Unemployment Rate Soars At 7.9%"
What is really bullish is how its called the employment situation report and not unemployment any more - makes me feel so warm and fuzzy I could tear up like Boner and Bama keep these jeenyusses in office 4eva every last one of them
Can we just say THERE IS NO FUCKING RECOVERY? There I said it. What's so hard about that? Go ahead Obama......say it. You can spew tens of thousands meaningless words that mean complete bullshit and I just gave you 5 that explains everything in a couple of seconds and no horseshit charts needed either.
the final hour of trading today is going to be a comical one.
i cant wait to see these criminals pump the market up as high as possible during the final hour,
You can be sure of one thing: next QTR GDP will be POSITIVE, even if it's +.00002%. There will be NO OFFICIAL RECESSION, Muppets!
Isn't it amazing how the new standard has taken what was a good economy at 4.5% unemployment in the 80's and 90's and has now regressed to 7.9%? Forget the dumbing down of the education system, we have a concerted effort to dumb down the economy. Yes, you could say there's no f-ing recovery!
hey fed, if this economy is improving so much, why the fuck r u guys still involved? get the fuck out of our market and will see how this market really reacts
There was not a single statistical job added in January, there never is. Over 2 million people lost jobs, the "added" number comes from the seasonal adjustment. We haven't added jobs all year. Each month the statistical adjustment adds jobs that don't exist.
Anyone that thinks retail jobs were added in January is insane. Of course 90% of the job losses are part time seasonal jobs that don't get counted as a loss because none of them apply for unemployment. They get counted as additions though because they show up in payrolls in November.
Once again the BLS nubers ARE BASED ON A FUCKING SURVEY!!! It isn't an accurate measure of anything.
I can't even watch any news today. It is all a level of fiction that makes the greatest stories of all time look like a dry algebra book.
October -November was revised up because all the publicly traded retail stores added more jobs to help Obabma get re-elected, and they were promised the best season in years. What they got was a giant bil for labor and the worst holiday in a decade.
Hmm... the Labor Force Participation Rate chart looks a bit like the Peak Oil chart...