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September Nonfarm Payrolls Miss 148K vs Exp. 180K; Unemployment Rate Drops to 7.2%
September jobs are a disappointment at 148K vs expectations of 180K and private jobs only 126K well below the 180K expected, but August was revised higher this time, from 169K to 193K even as July dipped once again from 104K to 89K. Net for the three months, largely a wash.
From the Household Survey:
The unemployment rate, at 7.2 percent, changed little in September but has declined by 0.4 percentage point since June. The number of unemployed persons, at 11.3 million, was also little changed over the month; however, unemployment has decreased by 522,000 since June.
Among the major worker groups, the unemployment rates for adult men (7.1 percent), adult women (6.2 percent), teenagers (21.4 percent), whites (6.3 percent), blacks (12.9 percent), and Hispanics (9.0 percent) showed little or no change in September. The jobless rate for Asians was 5.3 percent (not seasonally adjusted), little changed from a year earlier.
In September, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.1 million. These individuals accounted for 36.9 percent of the unemployed. The number of long-term unemployed has declined by 725,000 over the past year.
Both the civilian labor force participation rate, at 63.2 percent, and the employment-population ratio at 58.6 percent, were unchanged in September. Over the year, the labor force participation rate has declined by 0.4 percentage point, while the employment- population ratio has changed little.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was unchanged at 7.9 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
And the establishment:
Total nonfarm payroll employment increased by 148,000 in September, with gains in construction, wholesale trade, and transportation and warehousing. Over the prior 12 months, employment growth averaged 185,000 per month.
Employment in construction rose by 20,000 in September, after showing little change over the prior 6 months.
The Labor Force Participation Rate was flat at 63.2%: the lowest in over 30 years.
3rd monthly miss in a row for Private Payrolls...
as the unemployment rate drops to Nover 2008 lows...
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Good for a new ATH today.
No additional comment needed
Full Layoff / Business Closing List
http://www.dailyjobcuts.com
.
"The Fed has the tools to let the rich get richer"
D. malpass
change "let" to "Guarantee" and the nature of the system becomes apparent.
Expect a surge in Food Stamps, just in time for Thanksgiving! I'm sure this is setting up for a Merry Christmas too.
Sumpins up, metals be poppin
It's a bot trade---signed and all
I shouldn't have announced I was looking to buy. I get kicked in the ass every time I do that.
John Belushi coughing in the back row......bulllllllshit......bulllllshit.......
http://www.youtube.com/watch?v=ROxvT8KKdFw
Double secret probation for you non-believers.
It still popped the 1330 resistance level.
That's encouraging.
September jobs are a disappointment
Aww double crap! At least a lot more people will qualify for free expensive healthcare.
Hillarious missing on everything downward revisions and market shoots up and this idiots on CNBC do not even comment on this BS.
Avarage hourly earnings are in a crapper too
"I can't imagine that they would taper in this environment"
Zandi this F88g moron was saying how great economy is when "manufactured" number was arount 180 now he can't imagine they could Taper in this environment... And all leasman and Kernan are discussing is Ted Cruz cuban or Mexican implying with their tone he is not welcome in this country
They just wind them up and turn on the camera and they spew the same old shit, there is no context and there is no history.
No one has their previous comments reviewed there is no past, only now, and now is a window of distortion, pure propaganda push down your throat by the media/state for their agenda.
Turn off the TV, turn off the lies, look around you and understand the world you really live in.
more layoffs and unemployment goes down and you shouldn't ask questions just buy more I-Junk and load up on stocks and bonds, to the moon Alice. Conscious thought has been outlawed, only looting and grifting are legal, are you a mark or are you a looter, there are only 2 jobs left in America.
dip and SHORT SQEEZE...again.
Keep on shorting guys....great strategy
And what is the new (non-) participation rate??? The devil is always in the details. I bet we have another dip in the partition rate that we can be looking to buy!
In other news, we are now at war with Oceania. We have always been at war with Oceania.
You must remember Oceania are terrorist bent on destroying our way of life. They hate our freedoms.
Yew ESS AYYY, YEW ESSS AYYY
An insane man staring into a mirror at his enemy.
Unemployment is merely a symptom of the disease, and the point of the government is to deny that the disease exists.
We are in a recovery, green shoots and all that.
as long as UE keeps dropping, me buy.
Boeing confirmed Wednesday that it issued more than 300 layoff notices companywide last week, about 200 of them in Washington state.
http://seattletimes.com/html/businesstechnology/2022055349_boeinglayoffs...
Pretty soon we will have 4.5% unemployed and no one working....
They will soon count looking for a job as "full employment".
Who leaked data this time?
Gold +$5 at 8.27
Gold +$18 at 8.33
USD is below 79.40 - damage is accelerating now...
Gold catalyst: China aiming for 'de-Americanised world’ with renminbi replacing dollar
The Telegraph reports about the implementation of the China's long-term plan to diversify out of US Dollar denominated assets. UK trade delegation was recently visiting China and making a lot of deals with the message that "we would like to be the part of The Growing China Story". It is interesting that Alasdair Macleod is quoted by the mainstream UK paper now. The mega trend and major geopolitical shift is making it to the surface now, US Dollar is losing its status of Reserve Currency Of Choice. With this perspective in mind China's appetite for Gold, Copper, Lithium and other commodities is making a lot of sense. http://sufiy.blogspot.co.uk/2013/10/gold-catalyst-china-aiming-for-de.html#
Check out the dip on AUD/JPY at 8:29 as well. 95.03 to 94.86 right before the release.
THAT'S AMERICAN MATH FOR YA BABY!!
NICE TO SEE THE "no child left behind" IS WORKING!! WHO NEEDS MATH ANYWAY??!!
8:35AM Eastern USA -PM's sure got a hardon!
Gold ticked the right way in the 15 minutes or so before the release. I feel like someone gets this data early.
Impossible. The government is open again and the CFTC is on the job.
gives them the cover to keep QE chugging along
1,750 on the S&P today
1750 on the open. May get to 1800 by the end of the month. There will be a 50-100 point decline sometime in early Nov due to shaking call holders out, which should provide a great buying opportunity. It's the great "illusion of money" - when the measuring stick ($) is getting shorter everything it measures is getting longer
thanks
Real shape of the economy Shadowstatistics.com:
Gold Catalyst - John Williams: Very Serious Trouble in this Next Year - Weaker Dollar and Hyperinflation
John Williams is very respected economist who is providing the real economic data, which is not massaged by the government desires and wishful thinking. His view at the crucial juncture for US Economy and Health of US dollar us very important to share now.http://sufiy.blogspot.co.uk/2013/10/gold-catalyst-john-williams-very.html#
"i cant imagine they'd taper in this environment" - zandi
Peter Schiff: 1
almost everyone else: 0
Jim Rickards called it, too.
"Unemployment" is down to 7.2%, 0.1% "lower"...
Gold up to 1333, woo hoo!
they are letting the air out of the gold tire as we speak.
So confident.....he's removed all stops.
Sick'em fonz!
This makes me ill man.
Not seasonally adjusted:
Full time drops by over 500,000, part time increases (A-9)
Participation rate drops by 0.1
Employment to pop ratio drops by 0.1
Number of govt workers increases.
We are averging 27,000 fewer jobs per month in 2013 than we did in 2012.
That's the new definintion of Improving.
UE dropped to 7.2% huh?
What a total farce.
Amazing what happens when the denominator is smaller.
That was definitley leaked to the gold traders.
You mean gold algos
Look at all of these assholes predicitions. I predicted 192K, but that was also because I think the number is fraudulent and temp jobs often get "rehypothecated" IMO.
Weekly earnings only rose 0.4%. I guess thats one way to keep down inflation!
Job gains in construction, wholesale trade and transportation/warehousing? Sure. Very credible.
I think I missed again;
http://www.youtube.com/watch?v=PoTz3WgZm4c
has anybody seen how gold has Popped and the Dollar took a Nose Dive since the jobs report...http://goo.gl/6o4tpQ
yes, yes, and japan is imploding...
We will continue to "beat expectations" all the way down...
Same as it ever was ... (with considerably more doublespeak this time around)
Not seasonally adjusted, the participation rate is 63.2%. This rate never got higher than 64.0% this year, the lowest high in any year since 1977. Which hardly counts, because up until that time, the participation rate was never that high, as women in the workplace grew slowly through the 1970s.
Those considered to be not in the labor force is now 2 million higher than the corresponding month in 2012, and marks the fourth time this year the number has been over 90 million. In addition, that height was never before reached until this year.
I guess what I'm trying to say is - BULLISH. Buy moar stawks.
Now with Yellen at the FED and No Taper in 2013, what to expect next?
Peter Schiff On Gold Catalyst: Janet Yellen Exposed - The Truth Behind the Myth
Peter Schiff separates truth from the mass media hype about Janet Yellen's real track record. As we have discussed before, her core beliefs are even more neo-keynesian than those of Ben Bernanke. The new play book for the FED is written by Michael Woodford and it will be even more fundamentally positive for the Gold. We can expect continuation of "pro-growth policies" with very little regard for the created bubbles along the way.Peter was right about the Housing Bubble in 2006, he was right about the "Tapering" in September, what will happen if he is right again with his Call on Gold? We will provide his discussion on Gold and our entry on Michael Woodford to dig it out more for interested.
http://sufiy.blogspot.co.uk/2013/10/peter-schiff-on-gold-catalyst-janet.html#
CNBC tries to put things on the bright side in their Jobs Report Headlines
Job-creation weakens, but unemployment rate downhttp://www.cnbc.com/id/101131915
The big FRUSTRATION comes from the fact that I and so many other people are STILL LIVING IN THE 20TH CENTURY....WRONG!
We are in a new world where we are MANIPULATED 24/7. I HAVE A HARD TIME COMING TO TERMS WITH IT. I cant bet on a football game when it's RIGGED!
That is the way it is going to be....you cant win....you buy into this bullshit and you get burned.....
Lighting up a cigar. "I love it when a plan comes together"
Gartman: "Gold looks terrible...glad I bought in terms of Yen, not dollars."
Right. Apology accepted. Loser.
Dennis the Menace.
I bet we are green today..there is nothing left to spend your money on....you are not expanding your business...you are not loaning money..so you buy Netflix for the ride...and like all rides at the carnival..they end at some point...
Good God! If people don't stop dropping out of the workforce or taking part-time jobs at McDonalds, the unemployment rate will drop down to levels that the Fed says it will stop QE!
Do I think they will really stop QE? No, of course not. They can't stop. But it will be interesting to hear them explain why they have to continue to print money at a 6.4% unemployment rate.
tomorrow the number will restated and everything will be fine - haven't been updated on food stamps report - 48.8M last I heard.
on a lighter note, O'Reilly over at Fox News just forecast the assassination of Obama
http://video.foxnews.com/v/2759634748001/it-is-personal-between-presiden...
"... THOSE BAD FEELINGS ARE REMINISCENT OF DALLAS, TEXAS AND THE RUNUP TO PRESIDENT KENNEDY'S ASSASSINATION. ..."
It's just gets more bullish by the moment.