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January Payolls Big Miss Again At 113K Below 180K Expected, December Unrevised
So much for the hope of either a surge in January jobs, or a massive upward revision in the December print. Moments ago the January jobs number came out and at 113K, it was a huge miss to the expected 180K, but more importantly, the December number which was expected to be revised much higher was virtually unchanged at 75K, compared to 74K originally. The unemployment rate, which has become largely irrelevant, dipped to 6.6% from 6.7%, just so Obama can get the brownie points for fixing the economy. However, judging by the market reaction this is hardly what the traders think.
From the report:
Both the number of unemployed persons, at 10.2 million, and the unemployment rate, at 6.6 percent, changed little in January. Since October, the jobless rate has decreased by 0.6 percentage point. (See table A-1.) (See the note and tables B and C for information about the effect of annual population adjustments to the household survey estimates.)
Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent), and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million, declined by 232,000 in January. These individuals accounted for 35.8 percent of the unemployed. The number of long-term unemployed has declined by 1.1 million over the year. (See table A-12.)
After accounting for the annual adjustment to the population controls, the civilian labor force rose by 499,000 in January, and the labor force participation rate edged up to 63.0 percent. Total employment, as measured by the household survey, increased by 616,000 over the month, and the employment-population ratio increased by 0.2 percentage point to 58.8 percent. (See table A-1. For additional information about the effects of the population adjustments, see table C.)
* * *
Total nonfarm payroll employment increased by 113,000 in January. In 2013, employment growth averaged 194,000 per month. In January, job gains occurred in construction, manufacturing, wholesale trade, and mining. (See table B-1.)
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Still waiting on the recovery
Layoff / Closing List: http://www.dailyjobcuts.com
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Because Obama.. Again..
Expect Rosengren, Evans, Plosser with hints of "un-taper" talk all day, because this is what it sounds like, when doves cry...
Stock "market indexes" will be up 1% to 1.8% on the day.
The CFTC is ordering Blythe Masters' furniture & what-nots as we converse.
Embrace the fraud.
Fed's Rosengren Urges Patience in Cutting Stimulus
http://www.moneynews.com/StreetTalk/Fed-Rosengren-Patience-Stimulus/2014...
of all the futures markets in the last twenty minutes, the bond is most sane
Not gonna happen cause the Federal Reserve is done playing the game with the Us Government cause the big banks see the ship is about to sink so why keep bailing??
Missed it by that much...
http://www.youtube.com/watch?v=sBlhrTpi69E
Jay the Carney tackled this issue,: "this is good news, with bammycare moar peeps have the freedom to choose not to work"
All hail the Queen
BTFBLSM
they knew the number would suck. that's why they ran it yesterday
At this pace, the unemployment rate will be 0% by the end of Obama's 2nd term.
There will only be 37 people working, but nobody will be looking for work; because nobody will want to work...
... and everyone will have Medicaid coverage and SNAP cards.
All that's missing is free beer and free love.
Weatherweatherweatherweatherweatherweatherweatherweatherweatherweatherweatherweather....................................
This is a neat way of estimating what the NFP print will be: http://www.cityam.com/blog/1391774414/our-favourite-way-forecast-us-jobs...
Don't mean shit!! They will and are putting the equity futures where they need them. The market would have gained 200 points on a better number, but instead we will have a slow move throughout the day to where they would have went anyway. Ben has his cake toooooooooooo! And, anyone who thought this might work out differently is a damn retard!!
Good news! Food stamps for everybody!
Weather.....again......
which weather? ours or the rothschilds?
i was kidding but for the brief second I watched cnbc.....yep.....weather.
We all work outside, shit shuts down in winter. Or summer, or fall or spring.
Denial is a powerful....very powerful
goldman engineered the cold winter and then blamed it for the economy. http://www.ajc.com/news/news/conspiracy-theorists-think-government-plant...
EXACTLY!! Who could have possibly known that it would be winter in January?!?
Paging Kevin Henry...
Hunter Mahan, is that you? Here's a clue about golf, lining yourself up for 90 seconds, taking 6 practice swings, addressing the ball, deciding everything's not perfect, stopping and starting your "routine" all over, addressing the ball AGAIN, then being "disturbed" because someone somewhere made a "sound" then starting your "routine" all over again and finally pulling the shot dead left is not playing golf, it's teaching all the "amateurs" very bad habits and destroying the game. Either hit the f-in ball or hang up your spikes.
As for the jobs numbers, anyone expect anything different? At some point reality catches up with the bull crap the BLS spits out.
BWAAAAAAHAAAHAAAAAHAAAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!
Get to work old Yeller.
JAN ARE YOU DEAF, BLIND???
to work on more taper?
Victory for the bulls!
bad jobs. OMT will never exist. let the games begin.
Bullish. Taper reduction rate off.
This is hillarious. I guess the dumb money was buying yesterday.
I keep going back to the chart comparing/correlating 1928-30 to our current Dow numbers. If this correlation holds, as it has for the past year or so (strikingly so) we are in some deep shit fairly soon.
Power player,
Dumb money was buying yesterday? You obviously don't have a clue how a bad jobs report is good for an additional 150 points on the dow TODAY! Watch and learn tourist!
"Turn those machines back on"
Time for Morons on Live From New York! It's Jobs Friday:
Last month the number of jobs added came in far below expectations. I’ll admit I was bullish and didn’t see that coming.
This month, I’m still predicting that jobs added will come in above expectations. I’m going with 205K slightly above the 189K predicted by Dow Jones’ survey of economists.
Maureen, how about finding a new gig, like bagging groceries?
Maureen has a career waiting for her in writing fiction.
It's a actual generated from a Fantasy Land called the BloombergBubble(tm).
Morons set loose on an Island, pumping a 'fearless leader' from a city on a hill whom they never met.
They are told that in order to maintain thier personal lifestyle, they are to put milk buckets over thier heads and talk into a microphone pumping bullshit for hours on end to a disappearing audience who are out gathering rope and building scaffolds with drop doors instead of listening to the pap.
Is this something from TeeVeeLand? Moron says what?
WSJ.COM
Oh, News Corp!
At least it's not TeeVee, eh?
This is more gooderer. I mean cmon. Lots of peeps have found freedom from their 'Job Lock". Nancy Pelosi must be tickled pink!
Question du joure....will JP Morgue fire the idiot that came up with 205, 000?
Not if he/she placed some cheep puts under the Dow at the same time. ;)
We didn't get 205, 000 if you add December and January. ...if I did my job that incompetently I'd be joining the first time claims brigade.
Ruh roh rhaggy...
(has Liesman excused himself from the set to clean the shart from his boxers?)
Can they finally admit, Things are NOT getting better......or is ZeroHedge, the only place on Earth , that knows this !!!!
FED wants implosion, confirmed now.
Mark Zandi:
"CUZ WEATHER BITCHEZ"
@trillion_dollar
"CUZ IMMA A BITCH FOR THE MAN"
Thank god ZH covers this crap and I don't have to watch Zandi, Cramer etc.
One month ago, Zandi was ranting and raving that the miss was an aberration, and will be completely revised upward next month (today) when the next jobs number will also rebound handsomely.
Wrong and wrong.
Now the 'heads' are starting to chatter that the divergence in household to payroll surveys is getting significant and something is awry....expect to switch to the household survey in T minus 2 months....
Huge Miss In Jobs Report: +113k Only - Sends Gold Sharply Higher
Now let's listen to all excuses and polish the #taperpause on TWTR. Gold needs to close above $1270 to start the mother of short squeeze.http://sufiy.blogspot.co.uk/2014/02/huge-miss-in-jobs-report-113k-only.h...
Didja see where Blythe Masters is gonna be on the CFTC? And you think gold @ 1270 will see the light of day?
Feh.
again...the question remains..."when does bad news no longer equal good news."
When we get back to SPX 1800s.
Jan 2014 < Jan 2013 < Jan 2012
How I miss the good old days....
Bullish
Good thing this isn't the Price is Right.....they all over bid and would be losers.
BTFD !!!!
If this was horseshoes they'd have lost a long time ago. They'll move the stake, again.
We'll know the numbers 1 hour in advance when the insides start to sell/buy...
1st time I have openly 'belly laughed' at CNBC today....did Joe Kernan throw Austan Goolsbee under the bus? They had a lovers spat and it looks like Kernan put AG in his place.....
When they start 'consuming' themselves....the end is near. Get the oil and kernels ready....we are going to need a lot of popcorn soon for this show!
This is the third day in a row gold has spiked at this exact time for it to drift down over the next hour.
6.6% unemployment rate, yeah right. Tell that to the 48 millionhouse holds on snap.
It does not matter...melt up in charge..New York Fed Tradong Desk will now start the slow VXX induced melt up
On the downslope and the brakes are questionable
And here is CNBC with the official explanation, as if we did not know this would be coming.
http://www.cnbc.com/id/101398759
SELL BITCHES!!!!
LOL, blaming it on the weather. This is reason why this country is a fucking joke (not in the haha way), but the we're so fucked way.
Next thing I'm waiting to hear is there was a solar flare back in Novemeber that caused this trend. They're serious ...
Comical how paper gold still unable to clear the 1270 downward sloping resistance which if broken on the upside would trigger massive short covering.This has been the the fifth/sixth opportunity to do so since the market correction.
Hey Hey its the monkees!(hammering).........again.
Aaaaaand ..... bounce,
bad news, good news, who cares...
It's the weather, you know. ;-)
Un-taper will be the final nail in the coffin for any illusion that fiat is not just going to be printed into oblivion
Index's just want green these markets are a joke, Untaper yeller and show the world what a ponzi scheme this really is.
This "news" will be faded by the open. To me, the real issue is whether the manipulators will continue to sacrifice the EM in order to preserve the core (U.S.) as long as possible (until the globalists cry "uncle" and the coordinated printing resumes to pre-taper levels). And the real question is who possesses what weight of gold?
With all the bad weather Auto body jobs should have been like 300,000 alone...
Why would anyone want to work or worse to be employed. That really sounds crazy to me.
Meanwhile Gold is unchanged. Now why am I not surprised?
Not seasonally adjusted starting to catch up to Gallup's numbers. NSA unemployment rises to 7%. Not seasonally adjusted unemployed rises by almost 1 million. Participation rate of course degrades.
Meh... Not a big deal. Seriously. This means nothing. Hardly anything to panic over. These numbers are meaningless. Just like the GDP numbers, Inflation rate, unemployment rate and every other governernment metric that is used. The US is bleeding slowly and painfully. Death of a thousand paper cuts. On a long enough time line, we all go broke or die.
somebody hand out shovels!! try to look busy!
I'm sorry, you're the perfect candidate, and we'd like to offer you the job, but it's just too cold outside, and besides, it's snowing.
when 1 in 6 working age males are not working, and that percentage skyrockets when you include the UNDERemployed.....there is no chance that 6.6% 'unemployment rate' is relevant in any way.
Wait, here it comes, I hear it now. "Bush's fault."
Since most muppets will forgo food, water & clothing in bad weather, maybe they should poll liquor stores to see if that hampered business. God knows I hit the liquor store plenty when we had a few storms.
just think of all those people that will have time to rearrange their sock draw with their new free time.
If you re-arrange that 113k jobs number it's actually a robust 311k, BAM RECOVERY!!!
All just a huge stinking heap of bullshit engineered propaganda to influence the sheep according to the master script.
This is expected, it's only because we hired so many highly paid workers at Christmas time. Carry on.
Jobs increased by 113,000 in January. In 2013, job growth averaged 194,000 per month.
So the Obama recovery is over. Hope it was good for you, too!