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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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Fri, 05/02/2014 - 08:32 | 4719380 Shocker
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
-

Fri, 05/02/2014 - 08:42 | 4719430 GetZeeGold
GetZeeGold's picture

 

 

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

Fri, 05/02/2014 - 08:43 | 4719462 negative rates
negative rates's picture

I wonder if they crunch numbers in their sleep.

Fri, 05/02/2014 - 08:48 | 4719500 tmosley
tmosley's picture

>Birth Death adjustment: +234K

>Believing their lies.

Fri, 05/02/2014 - 08:58 | 4719565 BurningFuld
BurningFuld's picture

Who needs an economy when you can just print one?

Fri, 05/02/2014 - 09:10 | 4719645 Billy Sol Estes
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...

Fri, 05/02/2014 - 09:42 | 4719791 old naughty
old naughty's picture

How many tool creators?

Fri, 05/02/2014 - 09:53 | 4719841 TruthInSunshine
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.

Fri, 05/02/2014 - 10:12 | 4719926 LawsofPhysics
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.

Sat, 05/03/2014 - 16:13 | 4724351 ilion
ilion's picture

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

Fri, 05/02/2014 - 09:54 | 4719844 TruthInSunshine
TruthInSunshine's picture

dp

Fri, 05/02/2014 - 08:59 | 4719567 Flux
Flux's picture

TODAY, WE ARE CANCELLING THE APOCALYPSE!

Fri, 05/02/2014 - 09:06 | 4719621 tmosley
tmosley's picture

*The Obongolypse proceeds as scheduled.

Fri, 05/02/2014 - 09:22 | 4719710 Billy Sol Estes
Billy Sol Estes's picture

Thanks Bill Pullman.

Fri, 05/02/2014 - 08:44 | 4719466 101 years and c...
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....."

Fri, 05/02/2014 - 08:47 | 4719497 Joe Davola
Joe Davola's picture

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

Fri, 05/02/2014 - 08:54 | 4719532 Winston Churchill
Winston Churchill's picture

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

Fri, 05/02/2014 - 08:46 | 4719481 Billy Sol Estes
Billy Sol Estes's picture

Damn, 1800+ lay offs from Express Scripts!

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

Fri, 05/02/2014 - 08:32 | 4719381 Devotional
Devotional's picture

and there goes gold.

Fri, 05/02/2014 - 08:35 | 4719397 A82EBA
A82EBA's picture

yep damn

Fri, 05/02/2014 - 08:36 | 4719415 Xibalba
Xibalba's picture

a gift for our friends in the East

Fri, 05/02/2014 - 08:39 | 4719435 GetZeeGold
GetZeeGold's picture

 

 

The Barbarians only take real money.

Fri, 05/02/2014 - 08:49 | 4719509 SoilMyselfRotten
SoilMyselfRotten's picture

The barbarians only take real relics

there, fixed

Fri, 05/02/2014 - 08:57 | 4719557 SimpleSimon
SimpleSimon's picture

Real people take only barbarian money?

Fri, 05/02/2014 - 08:41 | 4719383 LawsofPhysics
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...

Fri, 05/02/2014 - 08:53 | 4719529 OC Sure
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.

Fri, 05/02/2014 - 09:15 | 4719672 LawsofPhysics
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).

Fri, 05/02/2014 - 08:32 | 4719385 El Hosel
El Hosel's picture

Goldiloks

Fri, 05/02/2014 - 08:33 | 4719387 1stepcloser
1stepcloser's picture

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

Fri, 05/02/2014 - 08:33 | 4719388 Xibalba
Xibalba's picture

wage ungrowth

Fri, 05/02/2014 - 08:33 | 4719389 Oro
Oro's picture

s&p 1835 5-2-14

Fri, 05/02/2014 - 08:43 | 4719457 DeadFred
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.

Fri, 05/02/2014 - 08:50 | 4719516 valley chick
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? 

Fri, 05/02/2014 - 09:00 | 4719578 DeadFred
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.

Fri, 05/02/2014 - 09:17 | 4719686 LawsofPhysics
LawsofPhysics's picture

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

Interesting times.

Fri, 05/02/2014 - 08:33 | 4719390 Cursive
Cursive's picture

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

Fri, 05/02/2014 - 08:33 | 4719392 dpr10
dpr10's picture

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

Fri, 05/02/2014 - 08:33 | 4719393 thismarketisrigged
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.

Fri, 05/02/2014 - 08:36 | 4719419 sodbuster
sodbuster's picture

Gotta be the biggest whopper they have ever told!!

Fri, 05/02/2014 - 08:43 | 4719456 youngman
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

Fri, 05/02/2014 - 08:45 | 4719482 negative rates
negative rates's picture

What are you kind of election magnet or something?

Fri, 05/02/2014 - 08:43 | 4719461 Sean7k
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...

Fri, 05/02/2014 - 08:51 | 4719523 sodbuster
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.

Fri, 05/02/2014 - 08:55 | 4719541 Sean7k
Sean7k's picture

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

Fri, 05/02/2014 - 10:03 | 4719895 Sticky Wicket
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.

Fri, 05/02/2014 - 09:01 | 4719586 drendebe10
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.  

Fri, 05/02/2014 - 08:33 | 4719394 Seasmoke
Seasmoke's picture

This actually very bad news 

Fri, 05/02/2014 - 08:35 | 4719406 LawsofPhysics
LawsofPhysics's picture

For who?  Be specific.

Fri, 05/02/2014 - 08:39 | 4719429 Cursive
Cursive's picture

@LawsofPhysics

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

Fri, 05/02/2014 - 08:40 | 4719439 Seasmoke
Seasmoke's picture

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

Fri, 05/02/2014 - 08:42 | 4719447 LawsofPhysics
LawsofPhysics's picture

So, this is good for liberty.

Fri, 05/02/2014 - 08:44 | 4719467 Seasmoke
Seasmoke's picture

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

Fri, 05/02/2014 - 08:43 | 4719459 Frostfan1
Frostfan1's picture

Boxing in a statist?  Good luck with that.  They're the ones amassing all the ammo.

Fri, 05/02/2014 - 08:47 | 4719493 LawsofPhysics
LawsofPhysics's picture

Sorry, I just can't see Paul Krugman "amassing ammo".  I can, however, see his head on a fucking pike.

Fri, 05/02/2014 - 08:51 | 4719521 Skin666
Skin666's picture

We can only hope LoP

Fri, 05/02/2014 - 08:46 | 4719484 Cursive
Cursive's picture

@seasmoke

Well, from that perspective, I agree it becomes harder for TPTB (i.e. status quo) to maintain the veneer of respectibility.  However, do not under-estimate the ability of the American people to bury our collective heads in the sand even further.

Fri, 05/02/2014 - 09:07 | 4719629 sodbuster
sodbuster's picture

Or up their asses.

Fri, 05/02/2014 - 08:46 | 4719491 negative rates
negative rates's picture

That's what happens when you trap yourself in a lie.

Fri, 05/02/2014 - 08:35 | 4719396 Bill of Rights
Bill of Rights's picture

.15 seconds before the release

 

https://www.tradingview.com/x/TFAok1Xn/

Fri, 05/02/2014 - 08:36 | 4719412 LawsofPhysics
LawsofPhysics's picture

just your normal "free and fair" market operation...

Fri, 05/02/2014 - 08:44 | 4719463 GetZeeGold
GetZeeGold's picture

 

 

.15 seconds before the release

 

What's that in doggy years?

Fri, 05/02/2014 - 08:56 | 4719548 madcows
madcows's picture

1.05 seconds

 

Fri, 05/02/2014 - 08:35 | 4719400 Dr. Engali
Dr. Engali's picture

Time to start pumping up those poll numbers.... It's the economy stupid.

Fri, 05/02/2014 - 09:09 | 4719635 Hughing
Hughing's picture

With the election and then winter, there won't be an honest (ha!) NFP for another year.

Fri, 05/02/2014 - 08:35 | 4719405 apberusdisvet
apberusdisvet's picture

Hard to reconcile any of these numbers with the every declining labor participation rates.

Fri, 05/02/2014 - 08:38 | 4719431 El Hosel
El Hosel's picture

... the Fed trying to cook up a number to get a bounce in the dollar without croaking "The Market".

Fri, 05/02/2014 - 08:44 | 4719470 Winston Churchill
Winston Churchill's picture

"You can't handle the truth".

Fri, 05/02/2014 - 08:36 | 4719407 Tsar Pointless
Tsar Pointless's picture

Not adjusted, unemployment rate falls to 5.9%, but look at what happened to the labor force and those considered not to be in the labor force.

http://www.bls.gov/news.release/empsit.t01.htm

The former dropped by about 800k while the latter rose by nearly one million.

Fri, 05/02/2014 - 08:36 | 4719410 dpr10
dpr10's picture

in other news labor force participation rate falls sharply::))

Fri, 05/02/2014 - 08:52 | 4719411 mypetdrone
mypetdrone's picture

pure lies

thank you fraudsters and london fixers   ,bought more  silver and gold  

 

have fun with massive debt and no growth 

Fri, 05/02/2014 - 08:38 | 4719417 Laughinggrizzley
Laughinggrizzley's picture

Shouldn't we be down 30 pts on the S&P? Fed mandate met, they should taper more.... "Happy days are here again, the skies are blue once again..." A hormone enhanced chicken in every pot!

Fri, 05/02/2014 - 08:37 | 4719423 q99x2
q99x2's picture

Buy that F'n Dip.

Fri, 05/02/2014 - 08:37 | 4719424 hustler etiquette
hustler etiquette's picture

Are these stats made up?

Fri, 05/02/2014 - 08:38 | 4719425 MFL8240
MFL8240's picture

This shit is simply revolting to watch.  Adust the number of people you dont count and you will have a 1% unemployment number but 50% of the country out of work, living in trailers and on food stamps! 

Fri, 05/02/2014 - 08:43 | 4719451 Oldwood
Oldwood's picture

I'm tired of trying to live the truth. Fuckit. 1984 it is and two plus two is five...I don't believe it...but accept it. I know it is wrong but I can't hold my breath forever.

Fri, 05/02/2014 - 08:44 | 4719468 Frostfan1
Frostfan1's picture

No two plus two is five.   Common Core!!!!    Hope and Change!!!!!!

Fri, 05/02/2014 - 08:38 | 4719427 fonzannoon
fonzannoon's picture

figures I bet a virtual sandwich on this one and not a real one.

Fri, 05/02/2014 - 08:43 | 4719454 Cursive
Cursive's picture

@fonz

Your vitual sandwich is more real than this phony data.  But, good news, bruh!  Your second-life/FB avatar can eat that sandwich off of Sophia Vagara's virtual ass.

Fri, 05/02/2014 - 08:46 | 4719487 fonzannoon
fonzannoon's picture

LOL

you know I said the 10yr is at 2.68%. I believe that Boston commenter came out of this solid too. He looks correct in that the shorts won the quick trade but the longs are piling back in. The 5yr is moving up so I am interested to see if Tyler shows that the curve is continuing to flatten even after this celebration.

If sofia shows up with that sandwich I will finally take this bag off my head

Fri, 05/02/2014 - 08:57 | 4719550 Boston
Boston's picture

Thank you for the kind words. And congrats on your call yesterday afternoon.....the 10yr just about nailed 2.7%.

And sorry for the delayed remarks.......I was busy buying at 2.69% (btw, the deteriotation in the labor force part. rate makes me even more confident).

Fri, 05/02/2014 - 09:02 | 4719589 fonzannoon
fonzannoon's picture

Anytime, your thesis makes a lot of sense and I like talking about this stuff. So interesting to see Yellen trying to force the long end up. If you squint really hard you can almost see a market at work.

Fri, 05/02/2014 - 09:07 | 4719625 centerline
centerline's picture

Nice call yesterday on this print!  You really nailed it.

Fri, 05/02/2014 - 09:17 | 4719682 RSloane
RSloane's picture

Great calls on the print and yields, Fonz. You as well, Boston. Much more reliable than the pundits including reasons why we are seeing both today.

Fri, 05/02/2014 - 09:24 | 4719718 fonzannoon
fonzannoon's picture

Thanks guys. I mixed my words up a bit above, but you guys know what I meant. Hats off to Boston. I got the quick crackhead trade right but he looks to have the big picture spot on.

Fri, 05/02/2014 - 08:47 | 4719489 Sean7k
Sean7k's picture

An ass like that deserves a little respect, it's Vergara.

Fri, 05/02/2014 - 09:04 | 4719606 Cursive
Cursive's picture

@Sean7k

Excellent.  A fellow ass man.  You might enjoy this south Louisiana zydeco anthem:

 

https://www.youtube.com/watch?v=h04GKLselnc

 

http://www.horacetrahan.com/

 

:D

Fri, 05/02/2014 - 08:50 | 4719474 Grande Tetons
Grande Tetons's picture

You called it.  

Other than the virtual burger...I had no open trades. 

 

http://i.huffpost.com/gen/979064/thumbs/o-BURGER-SEXY-ADVERT-NINA-AGDAL-...

Enjoy your burger. The best are the buns. 

Fri, 05/02/2014 - 09:20 | 4719698 LawsofPhysics
LawsofPhysics's picture

Fonz made a call?  Well that's it for me.  Sounds like a good day not to play.

Fri, 05/02/2014 - 08:47 | 4719496 Mabussur
Mabussur's picture

A virtual sandwich OR a real shit sandwich.

Fri, 05/02/2014 - 08:38 | 4719428 Sabibaby
Sabibaby's picture

Lauren Simoneti "We're trying to figure out why stock futures aren't up, let me get back to you..."

 

Please come back in a bikini Lauren!

Fri, 05/02/2014 - 08:38 | 4719433 SheepDog-One
SheepDog-One's picture

288K, gee really....let's see the list of companies who added 500 full time positions last month.

crickets

Fri, 05/02/2014 - 08:39 | 4719434 Spungo
Spungo's picture

That ain't good. Too many people having jobs might crash the S&P.

Fri, 05/02/2014 - 08:45 | 4719473 Sabibaby
Sabibaby's picture

No worries, the participation rate is down. 

Fri, 05/02/2014 - 08:39 | 4719436 Ribeye
Ribeye's picture

I believe in Harvey Dent,

Fri, 05/02/2014 - 08:40 | 4719437 alien-IQ
alien-IQ's picture

It's hard to not sit back and completely marvel at the audacity of their bullshit. It's takes some serious fucking balls to lie that boldly.

Fri, 05/02/2014 - 08:48 | 4719505 PeterLemonJello
PeterLemonJello's picture

Straight. Up. It reminds me of when I was in Junior High once. We were practicing in a band class and right at a moment of complete silence, I accidentially ripped the loudest fart of my life. Everyone turned to stare and I knew I was caught....so I boldly turned and looked at my friend to my left, started shaking my head with complete conviction and held my nose. Not having any idea what to do, he apologized and we moved on. The rest of the year that kid couldn't get a break from the relentless harrassment....

Fri, 05/02/2014 - 08:54 | 4719533 madcows
madcows's picture

thanks.  i just laughed out loud.  i hope you bought him a beer.

Fri, 05/02/2014 - 09:14 | 4719665 PR Guy
PR Guy's picture

I hope he punched you in the face later.

Fri, 05/02/2014 - 08:52 | 4719527 Blano
Blano's picture

Did you not hear Jay Carney re: the Benghazi email? The lying has gone full blown retard and is the new normal.

Fri, 05/02/2014 - 09:09 | 4719642 drendebe10
drendebe10's picture

The lying POS shill for the fudge packer in chief  needs his skin sandpapered off then buried in salt. He is too good for hanging.  Same for the fudge packer.

Fri, 05/02/2014 - 09:14 | 4719664 drendebe10
drendebe10's picture

Also, did u see the MSM sttoges sit there and lap up the sh_t he was spewing as if it were the milk from the gods.  The free press as watchdog over the corrupt government has gone the way of the constitution.  Thank you, fudge packer in chief.

Fri, 05/02/2014 - 09:27 | 4719729 madcows
madcows's picture

Honesty, integrity, intelligence, morality, etc... only matters when it's the other party.  IDEOLOGY above all else.  There is no one so blind as an ideologue.

Fri, 05/02/2014 - 08:40 | 4719442 Goggles Pisano
Goggles Pisano's picture

The unemployment rate moves in direct proportion to the POTUS approval ratings. These numbers are as made up as the number of people who have applied for Obamacare. 0.1% GDP growth and we are supposed to believe that 300K people were hired. Hilarious.

Fri, 05/02/2014 - 08:40 | 4719443 Eyeroller
Eyeroller's picture

The numbers must be from counting the people who have three part-time jobs.

Fri, 05/02/2014 - 08:41 | 4719444 NDXTrader
NDXTrader's picture

This should start the sell-off in earnest. Bye Bye free money

Fri, 05/02/2014 - 08:44 | 4719464 SheepDog-One
SheepDog-One's picture

It should....we'll see how these totaly un-rigged markets behave by close.

Fri, 05/02/2014 - 08:47 | 4719495 NDXTrader
NDXTrader's picture

And a big thanks to Tyler. These clowns on CNBC actually talk about the labor participation rate now. And it moving down to 62.8% is the whole reason for these "gains"

Fri, 05/02/2014 - 08:56 | 4719545 B2u
B2u's picture

History shows that when the economy begins to recover the unemployment rate rises.  Why?  More jobs and people not previously counted begin to look for jobs because new jobs are being created with a growing economy.  

Fri, 05/02/2014 - 09:17 | 4719683 PeterLemonJello
PeterLemonJello's picture

That makes sense....probably why the participation rate fell again...

 

/sarc

Fri, 05/02/2014 - 08:42 | 4719449 22winmag
22winmag's picture

Rejoyce in flipping burgers and mowing lawns!

Fri, 05/02/2014 - 08:45 | 4719476 GetZeeGold
GetZeeGold's picture

 

 

Only for 29.5 hr/wk......it's the law!

Fri, 05/02/2014 - 08:43 | 4719450 CaptainSpaulding
CaptainSpaulding's picture

Stay tuned for another exiciting episode of  "About those job numbers" post coming around 2pm

Fri, 05/02/2014 - 08:45 | 4719477 Oldwood
Oldwood's picture

Embrace the horror

Fri, 05/02/2014 - 08:43 | 4719452 hustler etiquette
hustler etiquette's picture

Big phamra is laying off, whole families are on the dole, trailer homes are the new mcmansions. nucking futs world

Fri, 05/02/2014 - 08:42 | 4719453 Sleepless Knight
Sleepless Knight's picture

This goes agianst every report I have read or listened too. Businesses are closing, not opening. I'd like to see the list of the jobs to see if 1) they are real, and 2) if they are "quality" jobs. What a bunch of bullshit.

Fri, 05/02/2014 - 08:49 | 4719510 Oldwood
Oldwood's picture

Their economic model relies on CONfidence, regardless of whether it is based on reality or not. At this point it is all they have and only a suicidal maniac would speak truth to this reality, if their future depended upon public office or tie minions.

Fri, 05/02/2014 - 09:03 | 4719600 Billy Sol Estes
Billy Sol Estes's picture

Morning Wood for the Fed

Fri, 05/02/2014 - 08:44 | 4719465 jay28elle
jay28elle's picture

Discussion closed. Obama's brought us back from the dead.

Fri, 05/02/2014 - 08:50 | 4719512 Oldwood
Oldwood's picture

As the living dead.

Fri, 05/02/2014 - 08:59 | 4719572 Cacete de Ouro
Cacete de Ouro's picture

Evil Dead - Work shed!

Fri, 05/02/2014 - 09:08 | 4719631 GetZeeGold
GetZeeGold's picture

 

Sooooo......spike the football now?

Fri, 05/02/2014 - 09:03 | 4719602 Billy Sol Estes
Billy Sol Estes's picture

Boomstick?

Fri, 05/02/2014 - 08:45 | 4719471 Dr. Engali
Dr. Engali's picture
"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."





Yeah reconcile that and the 234k birth death against the bullshit numbers. They are just making shit up.
Fri, 05/02/2014 - 14:42 | 4721274 Duude
Duude's picture

Disturbing revelation!  I ain't never seen anyone from this administration make up something. 

Fri, 05/02/2014 - 08:47 | 4719472 MFL8240
MFL8240's picture

Goodbye Benghazi story, the main stream whores will go directly to what will make this liar look like he is working on fixing the economy which could not be further from the truth!  

Fri, 05/02/2014 - 08:45 | 4719475 Ray Donovan
Ray Donovan's picture

If they will lie to take you to war, they will lie about job numbers.  There is no way uneployment is that low. 

Fri, 05/02/2014 - 08:49 | 4719506 russwinter
russwinter's picture

Must of hired more gangstalkers and militarized police. 

Fri, 05/02/2014 - 08:49 | 4719507 Orwell was right
Orwell was right's picture

I downrated the article simply because I was so aggravated at the fake numbers!!  

.....(sorry Tyler)....

"2.2 million persons were marginally attached to the labor force,".....BULLSHIT.    That number is far higher.   As for the "jobs" created....all low wage, many part-time.   Part time jobs are NOT one-to-one employment, because the same person often holds down two...sometimes three...part-time jobs to close the gap on the ONE GOOD full-time job he used to have.   The never ending furor over "minimum wage" is more than just politics....for the first time ever, the US has a LOT of people heading down to minimum wage level, and they are not happy about it.

I woke up in a bad mood this morning....and BS numbers from the BLS didn't help matters.

Fri, 05/02/2014 - 08:51 | 4719524 madcows
madcows's picture

Don't shoot the messenger, man.  Tylers ain't responsible for the BLS malarkey

Fri, 05/02/2014 - 08:51 | 4719518 Spungo
Spungo's picture

Maybe Obama is losing his grip on the economy. Despite his best efforts, it's actually improving?

Fri, 05/02/2014 - 08:51 | 4719519 AdvancingTime
AdvancingTime's picture

If people are retiring early this bodes poorly for us who may have to carry them in future years.The generation that is now beginning to retire has leveraged its size into favorable policy that it will enjoy in later life. This means the generous benefits boomers have continued to vote for in programs like prescription-drug benefits have caused deficits to explode. 

An American born in 1945 can expect nearly $2.2m in lifetime net transfers from the "state" far more than they pay in. A study by the International Monetary Fund in 2011 compared the tax bills of what different age citizens pay over their lifetime with the value of the benefits that they are forecast to receive. The boomers are leaving a huge bill. The article below focuses on the burden we are placing on the young.

http://brucewilds.blogspot.com/2013/03/the-young-will-be-burdened.html

Fri, 05/02/2014 - 08:56 | 4719547 overmedicatedun...
overmedicatedundersexed's picture

advancing time, how to put this politely, you fucking moron...the boomers or gen xers or any other group (except the elite reptile club) have not created the mess we call modern america, your betters have, they are nameless (except corzine), it is laughable that seemingly well rounded posters still blame the public for what the elite cabal has done since 1913.

Fri, 05/02/2014 - 09:09 | 4719634 Sean7k
Sean7k's picture

If you're going to write a blog, please take the time to do the research: http://www.cbpp.org/files/2-6-14bud.pdf

Fri, 05/02/2014 - 09:09 | 4719641 youngman
youngman's picture

Obamacare will take care of the old folks..there is not going to be much money for healtcare for people over 80.....you are not getting a new hip or heart...just some drugs to kill the pain until you pass....good luck...

Fri, 05/02/2014 - 08:54 | 4719535 Cacete de Ouro
Cacete de Ouro's picture

I'm getting a got of adverts on my ZH page for Travelgirls.com.

Maybe this explains the tick up (pickup) in the non-farm payrolls ?

Fri, 05/02/2014 - 08:55 | 4719539 Yen Cross
Yen Cross's picture

  Anyone that thinks the unemployment rate is anywhere 6.3% needs to have their meds. adjusted.

   In California alone there's 1.3 million who are long term unemployed that can't get extended unemployment benefits. I don't even know the number that are currently getting unemployment benefits.

Fri, 05/02/2014 - 08:57 | 4719559 d edwards
d edwards's picture

Mostly part-time crap jobs.

 

What good does it do to raise the min wage if you can't find a job?

Fri, 05/02/2014 - 09:23 | 4719713 madcows
madcows's picture

Yeah, just wait until they grant amnesty.  Then the UE will be 2%.... all those "working" illegals will magically become employed, and never collect any handouts.

Funny.  Both parties are going gang busters to grant amnesty in order to buy votes.  Why don't they promise to export the illegals thus opening jobs for AMERICANS, as a means of chasing votes.

Fri, 05/02/2014 - 11:31 | 4720355 Ariadne
Ariadne's picture

NO Amnesty

NO Israel

NO AIPAC

NO Rand Paul

Fri, 05/02/2014 - 08:56 | 4719551 jubber
jubber's picture

30 year lows in labour particpation The figure is bollox, will the market wake up or ignore this???

Fri, 05/02/2014 - 09:00 | 4719583 falak pema
falak pema's picture

From Marketwatch :

By Jeffry Bartash

WASHINGTON (MarketWatch) - The U.S. labor-force participation rate sank to 62.8% in April from 63.2% in March to match a 35-year low, the government reported Friday. Some 806,000 people dropped out of the labor force, according to Labor Department figures. Yet a government official said the drop in the jobless rate - to a six-year low of 6.3% from 6.7% - did not stem from a decline in the labor force, but from fewer people saying they were unemployed. He said the April report showed unusual softness in the number of people reentering the labor force, but not because they wanted jobs. 

Can somebody explain this dichotomy to me how are unemployment rate decrease and labour participation decrease compatible...

Its a mystery to my binary programmed mind! 

Paralell processing I have yet to assimilate in simple arithmetic! 

Fri, 05/02/2014 - 09:03 | 4719601 GrinandBearit
GrinandBearit's picture

Santa Claus and the tooth fairy are real.

Fri, 05/02/2014 - 09:45 | 4719808 1stepcloser
1stepcloser's picture

so is free pussy

Fri, 05/02/2014 - 09:04 | 4719604 ejmoosa
ejmoosa's picture

An economy with no growth adding hundreds of thousands of jobs.

 

A socialist's wet dream come true.

 

Fri, 05/02/2014 - 09:15 | 4719668 mypetdrone
mypetdrone's picture

just shaking my head thinking about the group pulling the strings in markets and politically , what utter vermin  these folks will not go  when asked ,you will not vote them out ...there is but one solution

Fri, 05/02/2014 - 09:20 | 4719695 madcows
madcows's picture

So, the nation GREW at a rate f 0.1%, but 288K people found jobs.  I can't figure the two.  If all these people found jobs, then the companies that hired them must be growing at a rate greater than 0.1%.

Now, clearly both numbers are pretty much make believe.  The GDP calculation was recently modified to include imaginary products, and the Jobs data is Adjusted based on all sorts of make believe numbers like the birth/death adjustment and seasonal adjustments and weather adjustments.  AND, you can't even watch for trends in the data b/c they change the formulas.

I guess they are both so frigging manipulated that there is really no meaningful info to be garnered from either one.  So, I'll go with what I see each day.  My company is doing well.  But associates, and neighbors are not.

I'll call it a muddle through economy.  certainly not a growing economy.

But more than that, I have no faith in the people and the gov.  We are led by a crooked, lying, craven, hateful government, that is willing to use force against it's citizens, and no one votes them out.  no one stands against them.  they just vote the same hacks back in.  They're ignorant, lazy, selfish.  So long as they get their ebt and section 8, and food and fuel assistance and phones.  It's disgusting.

Fri, 05/02/2014 - 09:22 | 4719704 Duude
Duude's picture

I find it interesting that the while the BLS reports 288K newly employed, they also report 733K that are no longer unemployed. So, did the 445K that didn't find work retire, or just give up, and why?  Speaking for myself I'd rather retire from a job than retire from the unemployment line. The Unemployment line doesn't offer the best of retirement benefits.  No, my guess is virtually all of these people gave up looking for work.  Some because they finally convinced the social security board that they are permanently disabled and therefore qualify for early social security but not 445K of them.  For those not qualifying for early social security, if offered a job, would they take it now? My guess is yes for most all of them being they were liklely not satisfied retiring from the status of unemployed.  I find it troubling to call these people no longer part of the work force, This is a sham. 

The BLS report also says the civilian labor force dropped by 806,000 in April. I don't even know how to figure that into all of this, except this figure has been dropping since 2009 and is behind perhaps 60-70% of the drop in the unemployment rate. 

Fri, 05/02/2014 - 09:25 | 4719721 explosivo
explosivo's picture

I don't understand why this is happening. Is this real? If it is, why is this happening? ZIRP has destroyed all real investment for years. This should not be happening. Can anyone clue me in? 

Fri, 05/02/2014 - 09:33 | 4719755 ratpack1968
ratpack1968's picture

And just in time for the November mid-term elections where we all get to pretend that we get to elect hard working politiicians who will "roll up their sleeves" and continue to "fight the good fight" for us "hard working folks".  This cannot possibly end well.

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