January Payolls Big Miss Again At 113K Below 180K Expected, December Unrevised

Tyler Durden's picture

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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Shocker's picture

Still waiting on the recovery

Layoff / Closing List: http://www.dailyjobcuts.com

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Headbanger's picture

Because Obama.. Again..

TruthInSunshine's picture

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.

jbvtme's picture

of all the futures markets in the last twenty minutes, the bond is most sane

Headbanger's picture

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??

booboo's picture

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

jbvtme's picture

  they knew the number would suck. that's why they ran it yesterday

Pool Shark's picture

 

 

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...

 

machineh's picture

... and everyone will have Medicaid coverage and SNAP cards.

All that's missing is free beer and free love.

fockewulf190's picture

Weatherweatherweatherweatherweatherweatherweatherweatherweatherweatherweatherweather....................................

Lewshine's picture

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!!

orangedrinkandchips's picture

Weather.....again......

jbvtme's picture

which weather?  ours or the rothschilds?

orangedrinkandchips's picture

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

asscannon101's picture

EXACTLY!! Who could have possibly known that it would be winter in January?!?

GolfHatesMe's picture

Paging Kevin Henry...

mr1963's picture

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.

I Am Not a Copper Top's picture

BWAAAAAAHAAAHAAAAAHAAAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!

Dr. Engali's picture

Get to work old Yeller.

Stoploss's picture

JAN ARE YOU DEAF, BLIND???

oak's picture

to work on more taper?

One And Only's picture

Victory for the bulls!

101 years and counting's picture

bad jobs.  OMT will never exist.  let the games begin.

Cortez's picture

Bullish.  Taper reduction rate off.

PowerPlayer's picture

This is hillarious.  I guess the dumb money was buying yesterday.  

BandGap's picture

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.

Lewshine's picture

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!

Jlasoon's picture

"Turn those machines back on"

Bosch's picture

Time for Morons on Live From New York!  It's Jobs Friday: 

  • 8:28 am
  • Prediction: 205,000

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?

Cortez's picture

Maureen has a career waiting for her in writing fiction.

Murf_DaSurf's picture

 

 

 

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.

Race Car Driver's picture

Is this something from TeeVeeLand? Moron says what?

Race Car Driver's picture

Oh, News Corp!

At least it's not TeeVee, eh?

betterlockaway's picture

This is more gooderer.  I mean cmon.  Lots of peeps have found freedom from their 'Job Lock".  Nancy Pelosi must be tickled pink! 

texas sandman's picture

Question du joure....will JP Morgue fire the idiot that came up with 205, 000?

mayhem_korner's picture

 

 

Not if he/she placed some cheep puts under the Dow at the same time.  ;)

texas sandman's picture

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.

mayhem_korner's picture

 

 

Ruh roh rhaggy...

(has Liesman excused himself from the set to clean the shart from his boxers?)

Seasmoke's picture

Can they finally admit, Things are NOT getting better......or is ZeroHedge, the only place on Earth , that knows this !!!!

Carpenter1's picture

FED wants implosion, confirmed now. 

trillion_dollar_deficit's picture

Mark Zandi:

"CUZ WEATHER BITCHEZ"

Cursive's picture

@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.

Boston's picture

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.