Whopping 288K Jobs Added In April, Far Higher Than Expectations; Unemployment Rate Tumbles To 6.3%

Tyler Durden's picture

The "not really most important jobs data ever" is out. Here are the results:

  • Jobs soar higher by 288K, far higher than expected 218K, and well above the 203K revised
  • Unemployment rate 6.3%, tumbles from 6.7% and well below expected 6.6%
  • Birth Death adjustment: +234K
  • Average hourly earnings M/M +0.0%, Exp. 0.2%
  • Average hourly earnings all employees Y/Y: 1.9%, Exp. 2.1%

The visual breakdown: the 288K jobs added in April was the highest since January 2012.

The total employment  (establishment survey) is now less than 100K away from regaining December 2007 levels -the month the Great Depression started.

 

From the report:

In April, the unemployment rate fell from 6.7 percent to 6.3 percent, and the number of unemployed persons, at 9.8 million, decreased by 733,000. Both measures had shown little movement over the prior 4 months. Over the year, the unemployment rate and the number of unemployed persons declined by 1.2 percentage points and 1.9 million, respectively. (See table A-1.)

Among the major worker groups, unemployment rates declined in April for adult  men (5.9 percent), adult women (5.7 percent), teenagers (19.1 percent), whites (5.3 percent), blacks (11.6 percent), and Hispanics (7.3 percent). The jobless  rate for Asians was 5.7 percent (not seasonally adjusted), little changed over the year. (See tables A-1, A-2, and A-3.)

In April, the number of unemployed reentrants and new entrants declined by  417,000 and 126,000, respectively. (Reentrants are persons who previously worked but were not in the labor force prior to beginning their job search,  and new entrants are persons who have never worked.) The number of job losers and persons who completed temporary jobs decreased by 253,000 to 5.2 million.  (See table A-11.)

The number of long-term unemployed (those jobless for 27 weeks or more)  declined by 287,000 in April to 3.5 million; these individuals accounted for  35.3 percent of the unemployed. Over the past 12 months, the number of long-term  unemployed has decreased by 908,000. (See table A-12.)

The civilian labor force dropped by 806,000 in April, following an increase of  503,000 in March. The labor force participation rate fell by 0.4 percentage
point to 62.8 percent in April. The participation rate has shown no clear trend in recent months and currently is the same as it was this past October. The
employment-population ratio showed no change over the month (58.9 percent) and  has changed little 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 7.5 million in April.  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 April, 2.2 million persons were marginally attached to the labor force, down  slightly from a year earlier. (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 783,000 discouraged workers in April, little changed 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 1.4 million persons marginally attached to the labor force in April had not searched for work for  reasons such as school attendance or family responsibilities. (See table A-16.)

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Shocker's picture

Recovery, Recession, No matter what you call it
The Job Market is still not good.

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

GetZeeGold's picture

 

 

Welcome to Nirvana! Land of Unicorn skittles and fairy pixiedust.

tmosley's picture

>Birth Death adjustment: +234K

>Believing their lies.

BurningFuld's picture

Who needs an economy when you can just print one?

Billy Sol Estes's picture

Works in Monopoly, you can use yellow post it notes as IOU's in place of mone....Oh fuck I just realized something...

TruthInSunshine's picture

Money is gushing out of stocks and bonds and into real estate and alternative asset classes at the fastest pace I've seen since 2006.

It's as if someone turned a switch on.

If this continues, I can not possibly see how the central banks don't begin to hike rates much earlier than they've been claiming they would for the last year; it's not a tenable position to maintain.

Look for some doves sounding like hawks to prepare/condition the "markets" for a change of heart and direction on interest rates.

LawsofPhysics's picture

Taxes will have to be raised first.  Any significant rise in interest rates will only make this "soft default" for TBTF banks and the U.S. government turn into a "hard default" overnight.

ilion's picture

Even Forex brokers are concluding that Labour Dept is manipulating with the jobs numbers. How long will this shit last? 

Flux's picture

TODAY, WE ARE CANCELLING THE APOCALYPSE!

tmosley's picture

*The Obongolypse proceeds as scheduled.

101 years and counting's picture

now, when we go to war with russia and everything goes to shit, o can blame russia/putin.  "the economy was taking off until russia....."

Joe Davola's picture

Yes, of course all is well - especially when income tax revenues in my state are well below projections.

Winston Churchill's picture

At least unicorns and fairy's have full time jobs.

Billy Sol Estes's picture

Damn, 1800+ lay offs from Express Scripts!

Guess they can all get on as ACA Enrollers now, right?

Devotional's picture

and there goes gold.

Xibalba's picture

a gift for our friends in the East

GetZeeGold's picture

 

 

The Barbarians only take real money.

SoilMyselfRotten's picture

The barbarians only take real relics

there, fixed

SimpleSimon's picture

Real people take only barbarian money?

LawsofPhysics's picture

Now watch as all those folks who just bought treasuries get fleeced as everything is "fixed"...

 

"Full faith an credit"

 

Specifically, no more faith means no more credit motherfuckers...

OC Sure's picture

Look for extremely high put volume today on the long bond and March and April's monthly tweezers to not be approached for months to come. Any test of today's low of 134.16 is another point of entry to buy. ...The O no-I'm-wrong parachute point is a close below last month's open, 133.08.

LawsofPhysics's picture

My gut thinks that if we break 133 it would keep on dropping.  No fucking way we get even close now.

King raller!! (guess who is buying).

1stepcloser's picture

whoo hoo someone give me a high limit 30% credit card, I need to celebrate 

Oro's picture

s&p 1835 5-2-14

DeadFred's picture

Nah, it will take a couple days to get down there but this has the look of a wooden stake being firmly pounded into the heart of the QE vampire. have sympathy for all those QE addicts, it's like a junkie who just watched their sole dealer get hauled away in cuffs.

valley chick's picture

First you have to believe that they are actually tapering the QE. And when is the audit being done on the Fed? 

DeadFred's picture

The audit is scheduled for the week after they string them up on lampposts. Until then we we just have to be satisfied with the transparency that Obama has brought to our federal government. Didn't you hear the news, the QE bond purchases have been taken over by the Belgians? Bless there souls.

LawsofPhysics's picture

Really, who know that Belgium had so much fucking cash reserves?

Interesting times.

Cursive's picture

Joe LaVorgna is the Man! /sarc  All this "data" is made up bullshit.

dpr10's picture

they have to get out and increase rates soon enough, so made-up numbers gain pace::))

thismarketisrigged's picture

so when we had low numbers for jobs, it was all the fucking weather.

 

now that there have been upward bullshit revisions to those months that were effected by just this horrible weather, weather that has never been so bad in on anytime on this planet,  i guess the weather doesnt matter.

 

its all fucking bullshit,  i didnt even get upset, these numbers r so fucking rigged.

sodbuster's picture

Gotta be the biggest whopper they have ever told!!

youngman's picture

Wait until they get closer to the elections.....the September and October numberrs will be great.....just so Obamas buddies can get re elected

Sean7k's picture

Huge fall in labor particiation rate as over 800,000 people exited the work force. Lowest in 35 years. I find myself bemused...

sodbuster's picture

We could get this UE rate to darn near zero, if we could just drive more people out of the workforce. No doubt in my mind, the idiots running this country can do it!! And they will stand there and tell it to you in all seriousness, and with a straight face. And a good chunk of the people in this country will swallow it, hook line, and sinker.

Sean7k's picture

They will have perfected statistical analysis when the UE rate equals the 30 yr and both are at zero.

Sticky Wicket's picture

Didn't you get the memo a few years ago? The only people that leave the labor force are those who are retiring. The economy is growing on strong fundamentals and we have always been at war with Russia.

drendebe10's picture

A. Anyone who believes these numbers still beliebes in Santa Claus,

B. Even if the mumber is semi-accurate, then what kind of jobs were -created?

C. Doesnt anyone with any ability to think get tired of the gummint lies, more lies, and damn lies.

D. All this horse puckey day after day aided and abetted by the U.S. version of Pravda and by the corrupt arrogant narcissistuc illegal alien indonesian kenyan sociopathic fudge packer in chief only interested in its grand imperial golf life style funded by the sap serfs and peasants.  

Seasmoke's picture

This actually very bad news 

Cursive's picture

@LawsofPhysics

It's the good-data-is-bad meme again.

Seasmoke's picture

Any statist. Federal. State. Local. They are getting boxed in. No way out. 

LawsofPhysics's picture

So, this is good for liberty.

Seasmoke's picture

Only when Gold and Silver break free. But not today.