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February Payrolls 175K, Beat Expectations Of 149K, Unemployment Rate Rises To 6.7%
So much for the weather. As we warned earlier today, when we said that with everyone expecting a miserable print the only possible result would be a large "beat", sure enough that's precisely what happened. Breaking it down:
- February payrolls: +175K, Exp. 149K, Last revised from 113K to 129K).
- Household survey jobs added: 42K, far less than the Household survey.
- Unemployment rate: 6.7%, Exp. 6.6%, Last 6.6%.
- Labor participation rate: 63.0%, Last 63.0%
- Private payrolls: 162K, Exp. 145K, Last 145K
- Manufacturing payrolls: 6K, Exp. 5K, Previous revised from 21K to 6K
Visually:
From the report:
Both the number of unemployed persons (10.5 million) and the unemployment rate (6.7 percent) changed little in February. The jobless rate has shown little movement since December. Over the year, the number of unemployed persons and the unemployment rate were down by 1.6 million and 1.0 percentage point, respectively. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (6.4 percent), adult women (5.9 percent), teenagers (21.4 percent), whites (5.8 percent), blacks (12.0 percent), and Hispanics (8.1 percent) showed little or no change in February. The jobless rate for Asians was 6.0 percent (not seasonally adjusted), about unchanged 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) increased by 203,000 in February to 3.8 million; these individuals accounted for 37.0 percent of the unemployed. The number of long-term unemployed was down by 901,000 over the year. (See table A-12.)
Both the civilian labor force participation rate (63.0 percent) and the employment-population ratio (58.8 percent) were unchanged in February. The labor force participation rate was down 0.5 percentage point from a year ago, while the employment-population ratio was little changed over the year. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.2 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. (See table A-8.)
In February, 2.3 million persons were marginally attached to the labor force, a decline of 285,000 over the year. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
Among the marginally attached, there were 755,000 discouraged workers in February, down by 130,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)
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Again still waiting on the recovery
Layoff / Closing List: http://www.dailyjobcuts.com
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Must have been the weather.
Just bask in the recovery....and try not to think too much.
I'm recovering too... it's called a hangover. Doesn't mean things are going well.
This bodes well for the global recovery. I think we may be at the point where Janet Yellen can consider tightening the balance sheet. The key will be to do it in such a way that doesn't harm growth, but since the recovery is now self-sustaning, this may be an option to consider. I'll leave that decision to the experts.
All the credit has to go to Yellen. It's been scientifically proven that estrogen is highly correlated with intelligence, and testosterone is highly correlated with a lack thereof.
Well, you've made assertions, but without supporting evidence. I've heard a contrarian theory, supported and asserted thus:
Women, unfortunately for them, are saddled with a pair of noncorrectible genetic impairments--the X-chromosome redundancy disorder, as well as the Y-chromosome deficiency syndrome--which, in conjunction, preclude effective intelligence.
MDB: undisputed heavyweight king of the trolls.
Don't ever change dude.
MBD is back! Fuck yeah, bitchez!! Somebody linked to the Accredited Times here yesterday. Seems you've got a "phonestar" in your comments section, ruffling the feathers of our resident fone. I downvote the shit out of fonestar from time to time, but I still like his contributing; the eccentrics add most of the laughs around here.
The beat gets everybody to pile in long over the weekend. At 3:30EST, Purin drops the hammer and come Monday all the bigs boys and their new short positions rip the faces off the muppets once again.
Rinse, repeat
Let me get this straight. 125K gets an unemployment percentage reduction. ..175K equals a rise...okeydokey, you must need that New Math they were teaching for a while to be able to figure that one out.
And there goes gold. What a shocking surprise.
What did you expect?
/s
And there goes gold. What a shocking surprise.
The 711 crowd could care less about impending WW3.
Going to be interesting to see if Ag and Au can retrace the smackdown and finish positive today. If so, it will be a clear signal the cartel has lost control, and gap-ups are around the corner.
Gold and oil were already showing they knew it was a beat a good hour before the release.
NFP stats, it's the gift that keeps giving.
Just roll with it. :-)
Next up the March Fed meeting and Crimex expiry.
Radio Shack customers are calling in...they want the 80's back.
Waiting to hear why this number is bullshit...
Seasonal adjustment?
Well first off I would say that if it comes from or benefits the government there are two good reasons.
pods
nasdaq 5000 by end of next week...
to the moon alice, to the moon!
Told y'all: http://www.zerohedge.com/news/2014-03-07/futures-unchanged-ahead-jobs-nu...
Does this mean Staples is Ok now?
In theory......yes.
In theory there is no difference between theory and practice. In practice there is.
Yogi Berra
And cue the obligatory gold & silver smackdown.
Fits what I see. McDonald's is hiring for the early shift and the grave yard.
Who could want more than this Soviet Socialist Paradise?
for a vision of what the elite wants for the developed world read "the orphan master's son". it is a great companion to orwell.
http://en.wikipedia.org/wiki/The_Orphan_Master's_Son
6.7% LOL
Plenty of 29.5 hr/week jobs out there.
Coincidentally, that's my Slave wage weekend rate at the hospital. Weekdays it's $27.50.
u6.http://www.bls.gov/news.release/empsit.t15.htm
IridiumRebel - The UI rate is 6.7 percent. One person each working two part-time jobs for $10 an hour.
IridiumRebel - The UI rate is 6.7 percent. One person each working two part-time jobs for $10 an hour.
175 k beats lowered expectation, but unemployment rate rises. To taper or not to taper that is the question. Poor confused robots.... don't burn out a circuit.
i dont think the robots are confused doc, i think they know to go up regardless of what the numbers r, its one big fucking joke by now, just sit back and laugh at this shit.
to be a fly on the wall at the next Fed meeting...
Kocherlatoka/Rosengren/Dudley: we need more liquidity! look at the collapse in factory orders!
Plosser/Fisher/Stein: it's time to start throwing 'financial stability concerns' into the monthly statement.
K/R/D: but stocks are cheap!! you're crazy! BTFD!!
Payrolls beats? Quick sell sell sell go short this obvious bad news for the American stock markets!
i want to fucking kill jarred bernstein on cnbc, the guy is such a fucking douchbag, he keeps talking about how good this number is.
what a fuck
Well.....someone had to be....just sayin.
BernSTEIN??? Nuff said
Divided: No, that guy was Mitch Cumstein, my roommate. He's a good guy. Don't be obsessed with your desires, Danny. The Zen philosopher Basho once wrote: 'A flute with no holes, is not a flute. And a donut with no hole, is a danish'. Funny guy.
-Ty
turn off and tune out, bro. i wouldn't wish my worst enemy the torture of watching American 'news' media. it's all infotainment on par with snuff porn.
Have noticed the same thing. They seem to get dumber by the day. So that probably means Americans as a whole are getting dumber by the day.
It was the easiest number to massage to save USD from the waterfall today:
US Dollar Slides To The New Low 79.51 As Ukraine Situation Moves To Economic Warfare
US Military Complex can not be challenged by anyone in the open conflict, but once things are moving into the field of asymmetric economic warfare tactics of Financial Wars U.S. has a problem. Economy can not really handle any external shocks now, Bubble in the equity markets is not translating into the healthy growth so far. Any serious correction in the market can bring very weak economic data further in the proximity of potential recession. And this is where Ukraine situation is coming so handily to the FED's rescue out of Taper. Do you really think that the banks want the tigthening of the money supply now? FED wants Weak US Dollar, FED wants Inflation and FED is ready to pause Taper at any excuse now. Further escalation around Ukraine situation will provide this excuse right in time when the economic data will be turning even weaker than now. http://sufiy.blogspot.co.uk/2014/03/us-dollar-slides-to-new-low-7951-as....
mcrecovery
want your great depression supersized?
oye... it's got plenty of "special sauce."
We need 300,000 jobs a month! Weather is not the problem, the economy is the problem!
1900 today easily on s&p, everyone knew it was coming.
i want to here the excuses from the fucks on cnbc and all other outlets, as to why we get terrible numbers and markets go up and a number that still fucking sucks but beats the shitty expectations and markets rally.
sure enough, the yen is heading towards 104 again.
what a joke
as hussman noted some time ago, the sornette log periodic bubble top finite-time singularity (!) would indicate 1920 on the s&p 500 index. also nearing two months overdue.
http://www.hussmanfunds.com/wmc/wmc140217.htm
"The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.2 million in February".
That number is going to get a lot bigger. Thank you Zero care.
1,000,000^100 of naked short gold contracts dumped on comex in order to ensure market liquidity
Ahhh.. Socialism!
$1,350 was the top. Silver sucks ass. Buy stawks. rejoice.
Silver's balls are tired.
Silver's butt is raw.
DaddyO
Nobody's gonna get that who wasn't around last night. You easy titted bitchez.
All those new jobs in spite of the terrible weather! Recovery is in full swing. No chance of war in Ukraine, no chance of a war anywhere in the world. It's all good news. No chance of the markets ever falling again. S&P500 to 2000 by April, 3000 by year end. You may as well give all your gold away now, it'll be worthless by the summer. Buy those stocks! Buy buy BUY!!!
Oh, look gold smashed again. No end to the bullshit is there?
What we're seeing here is not a decrease in jobs, but an increase in opportunity to spend your new free time as a photographer, painter, or poet!
175,000 jobs added, 6.7 unemployment, record amount of people out of labor force, this deff justifies a market that should be at all time highs.
Labor participation rate is still at a 35 yr. low. It has to go up to indicate that the economy is really adding jobs.
That's all you ever hear about in the MSM.....I wish they would tone that down.
Well, if you saw the link I provided for the Gallup P2P February number yesterday, you would have known that there was going to be nothing but good news in the NFP report.
http://www.gallup.com/poll/167750/payroll-population-rate-february.aspx
Up to 43.1% from 42% m/o/m. And the NFP household survey looks pretty good, too.
http://bls.gov/news.release/empsit.t01.htm
Employed up 600k from January, NILF down 500k, those who currently want a job down by nearly the same.
So...S&P 1900 by day's end?
As the Tylers would say, "Copper ain't buying it"
How many of those jobs require slip-resistant shoes?
Beware the Ides of March.
Crap....it is March. Where has the time gone?
oBAMA! ObAMA! ObAMA..... Mother fucker can do anything.... lower sea levels, bomb brown people into submission by droning wedding parties, and create jobs in the middle of a polar vortex. What an awsome president we have in oBaMa!
The sportos, the motorheads, geeks, sluts, bloods, wastoids, dweebies, dickheads - they all adore him. They think he's a righteous dude.
https://www.youtube.com/watch?feature=player_embedded&v=qEGMse-VCgs
"They think he's a righteous dude.”
Classic. No link needed. Somewhere along the years, I downloaded that scene, and much of the movie, into my head. The guy playing the principle does an epic job. If that movie gets rebooted, Obama should play the principle.
The company I work for is downsizing its stores sizes and trying to add smaller stores which means more people? This number is extrapolated from stealing from the future much like QE is spending revenues not yet earned? Being short 100 grand in this section of the cycle is the takeaway! Our standards are constantly being massaged to fit the narrative of the day
Cue the higher rate bullocks?
The US markets have to have all time highs every day from here on out (algo must see to it), it's a show of fancy to russia and china that we can print MOAR money than you. For the rest of the sheep, just BTFATH and carry on.
No Brainer and here's how it works...
EVERY SINGLE WEEK......The "caretel" drops bids let's say in the SPY. Preferrably on a Monday or Tuesday morning. SPY drops a few bucks....
Back up the truck and BUY THE FUCK OUT OF IN-THE-MONEY CALLS
Back up the truck and SELL OUT OF THE MONEY CALLS....
EK
You have nothing to lose now....BUT SURPRISE....EVERY.FUCKING.WEEK we pop by expiration BY WEEK END....
Pattern is as obvious as the tides!
Mr. Plow hired a lot of temporary help last month.
Celebrating 175k like there is no tomorrow.
Reshoring manufcaturing epic failure.
Waiting for the administration to address to address manufacturing by reclassifying burger and latte making as manufacturing....
They are celebrating that we forgot the 280k we added last February and are thanking God we did not mention it.....
Or the fact that this was the third consecutive month of lower year over year job numbers.
THink strengthening, instead.
That is a great point.
I'm seeing this in business. Right now we are behind last year's pace and even 2012. So far Q1 isn't where I'd like to see it.
The government has been increasingly manufacturing more and more optimistic reports :-)
Over all not a bad report. Though pay did rise, hours working declined. Basically a flat report.
Good news:
the CONomy has been saved from the weather by a spreadsheet
CONomy
That's great!
ha ha , cramer what a fucking douchebag.
'' now we know that the last 2 months were false tells, and now we see why the market is going higher''.
ya u fucking douchebag, the last 2 months are false tells, but this 1 month is the real u.s economy, which mind u still fucking sucks.
also, all i heard in feb was how bad the weather was, so how was the number so high, i guess weather does not effect numbers, but somehow in dec and jan it did?
the amount of flip flopping that goes in is mind numbing.
A very large number of people too busy to work, get home have dinner, watch a bit of TV and go to bed, they get their quarterly statement or check in the weekend and they see their 401 k and their mutual funds hip hopping and they say bravo Obama.
That's yellen's game plan and is succeeding to some degree.
Janet, Get to Work, Print MOAR.....to infinity
LMAO!
What a hoax this stock market is! We came out of a delevarging recession not a business cycle recession. It can take up ten years for the market to level out. In my opinion we are close to making a top in the market. Msot of the bullish news is baked into the market! This has been a programmed market by the same minority that had all the money in the Weimar Republic. The outcome that may materialize is a financial holocaust!
Frankly, I expected, after more than a year of QE3, for the number to be better than last February's 280k.
So this was a big miss, of more than 33%, in my opinion.
For the unemployment rate to RISE after all these folks falling off the benefits program... things are gettting even worse.
Oh, and wake me when we add 400K jobs per month, mkay?
o my fucking lord, its going to be great when this thing collapses to go back and listen to jim cramer video on youtube from 2013 and 2014 of how the bears are lost and this economy is leading the stock market higher.
this guy defines douchebag
The one thing the boys at CNBC fail to tell us are the jobs were mostly snow plowers.
Party on
Does the season adjustment ever reduce any more?
Maybe change the name to hope and dream adjustment
Always a plus.
Wait I thought when the jobs report was 'negative' it was bullish since the untaper was in doubt thus equities markets up.
But now that it is 'positive' the untaper should be back on track this markets should be down.
Ah I almost forgot, the algo programming is: A(economic news)=B (long term result)=C (U.S. stock market), where C is a positive integer.
Stop publishing bullshit. www.shadowstats.com