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September Job Addition Of 248K Beats Expectations, Unemployment Drops To 5.9%
If the August payroll print was only +142, since revised to +180, it was largely offset by the September jump, which saw some 248K jobs added int he month, beating expectations of a 215K print, with a net prior revision of +69K jobs. And while with the revision of the August data the near-record streak of 200K+ jobs numbers was broken, we now have the longest running stretch of positive monthly job gains in history. On the other hand, the unemployment rate slid to jujst 5.9% from 6.1%, the lowest since July 2008.
However, in any event, this jobs report will do nothing to change the Fed's opinion on QE, which is ending in four weeks, or its current rate hiking outlook. Th
The data breakdown from the Household Survey:
In September, the unemployment rate declined by 0.2 percentage point to 5.9 percent. The number of unemployed persons decreased by 329,000 to 9.3 million. Over the year, the unemployment rate and the number of unemployed persons were down by 1.3 percentage points and 1.9 million, respectively. (See table A-1.)
Among the major worker groups, unemployment rates declined in September for adult men (5.3 percent), whites (5.1 percent), and Hispanics (6.9 percent). The rates for adult women (5.5 percent), teenagers (20.0 percent), and blacks (11.0 percent) showed little change over the month. The jobless rate for Asians was 4.3 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
Among the unemployed, the number of job losers and persons who completed temporary jobs decreased by 306,000 in September to 4.5 million. The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 3.0 million in September. These individuals accounted for 31.9 percent of the unemployed. Over the past 12 months, the number of long-term unemployed is down by 1.2 million. (See tables A-11 and A-12.)
The civilian labor force participation rate, at 62.7 percent, changed little in September. The employment-population ratio was 59.0 percent for the fourth consecutive month. (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 in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)
In September, 2.2 million persons were marginally attached to the labor force, essentially unchanged 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 698,000 discouraged workers in September, down by 154,000 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 September had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)
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Another month, same old story
Layoff / Business Closing List:
http://www.dailyjobcuts.com
-
off topic, but maybe not??? But I don't care...
look at the massive volume that just tanked the paper silver just now and it's under 17/oz once again!
Massive spike in volume over 300,000. Love it. Stack up that phyzz, bitchez!
With unemployment this low you would think the streets would be ghost towns during work hours.....
off topic, but I don't care...
look at the massive volume that just tanked the paper silver just now and it's under 17/oz once again!
Massive spike in volume over 300,000. Love it. Stack up that phyzz, bitchez!
and FYI, supplies in huge shortage right now and there has been record setting sales of silver Eagles again in the last few days. Premiums have spiked up as well and there are now delivery delays of up to 2 or more weeks.
Get your orders placed now for phyzz. You can wait to see if it drops to 16 or 15 or 10, but at the same time there won't be any supply and premiums might spike to 25% or higher just to off-set the downward paper price manipulation, so don't fucking wait to add to your stacks.
More interesting is the Dollar.
Good news make it explode higher? Shouldn't an improving economy result in more credit creation (=money creation)?
But if deflation fears rise: it's good for the Dollar (safe haven).
If deflation becomes less a threat: it's good for the Dollar, too.
Head I win. Number I win.
Interestingly in Europe deflation fears: bad for Euro.
Inflation increases: bad for the Euro.
I somehow have the feeling, it just doesn't matter. It works the other way around: the charts create the explanations...
So the important thing is: who is painting the charts?
Well dont know but it looks like recently that even the Zionists shills are losing money nowadays, such as Ackman, Berkowitz, Rosenstein (Jana had a bad month too)......
Now we cant have those guys losing while the clueless retail sheeps making money now just btfd all the time, do we?? THAT would just not make any sense in THIS fucked up world. The sheep raping has to revert back to normalcy.
Damn right, and with JPM getting hacked like a cheap watermelon and Jamie D. with throat cancer, JPM had to order the BLS to manufacture some good numbers so that Jamie could sing one more rendition of his favorite song before the lights go out.
https://www.youtube.com/watch?v=tood808CBQQ
248K shitty jobs. Booyah!
michael bay american nightmare/ the purge 3 should definitivly put some more to work !
Unemplyment is 5.9%
My dick is 12" long.
I promise not to come in your mouth.
"Head I win. Number I win."
I'm guessing you're not from around these parts.
happy days are here again. Can't yall feel it in the air a month before elections. I am so excited about all the opportunities my president is providing me.
sarcasm this economy sucks
5.9%? I am forced to wonder, in what universe does the data underlying this report bear any relation to the phenomena it purports to measure? Obama? Bueller?
Will do. And this latest paint by job numbers report is yet another scam job with bullshit numbers shaped to promote a fed policy of raising rates. I know everyone here doesn't think the Fed will ever do it, but consider this. The economy is tanking and is going to tank regardless of what the Fed does (see Japan past 24 years), so now to convince people this is not true and that it is actually in control of the economy the Fed is tightening so that it will look as if it accidently crashed the economy. In this way the Fed will attempt to maintain the illusion that it is in control of the economy. Don't be surprised if the storyline you read a few years from now states that the Fed crashed the economy by tightening prematurely, courtesy of the FedGov's media dept. In truth, the Fed has lost control already, and we are Japan all over again at this point. The unemployment rate is less than 6%?????!!!!! Puhleeze. Soma and football for everyone!
I do believe they will raise rates slowly. This is the script and what would be expected in a recovery. It is the course of action that prolongs the charade as long as possible while they prepare greater authoritarian control mechanisms.
We need a real jobs report.
You can't handle the truth!
- BLS
Drive around going to different Starbucks all day.
Restaurants begging for customers, retailers selling Christmas already, strip malls empty, ...
Economy fixed, mission accomplished.
guess it depends where u live
in my area restaurants are busy and strip malls full
but the majority of ppl don't make much so it makes me wonder if they are using a credit card....
Fuck it...I admit now..QE has worked miracles....we will NEVER EVER get another recession in the history of humanity.
I gotta run, if you see headbanger put him in a headlock and rip a giant fart in his face for me. A smelly one if possible.
Btfd
Lol..... You damn near made coffee fly out my nose.
fonz, I will do that if I see him on here...I got a ton of gas lately by going long some silver and the pressure is building up inside.
@Divided States
Whatever do you mean? This is just cover for the Fed to taper. Lord Vador's Dear Star is fully operational....
Yo Cursive bud, youre right, errr, I think.
Yeah, btw...that wasnt the logical half of me posting just the message above, that was, errr, the delusional maniac part of , hmmmm, me that took over my mind and wrote that.
Maybe I should go see a shrink soon.
@Divided States
I hear you. Bro, if we keep our wits through this carnival of corruption, we'll be lucky. Have a good Friday!
Not long left for humanity then ?
Ebola quarantine'd not in workforce?
shocker.
elections next month and they report this shit. must say i am shocked beyond belief.
if anyone believes this bullshit, i have oceanfront property in the midwest to sell u
This should explain......EVERYTHING.
http://2.bp.blogspot.com/-mOyueCD6qVQ/VC13VUkq36I/AAAAAAAAObA/a4y9uWBHZ14/s1600/climate_excuse_for_everything.png
exactly what i said a month ago.....watch the October release. it's going to look good (Under 6%).
get ready for 'the economy is awesome' press reports!
Just add 10 to the UE rate.
My comment from earlier:
"Elections trump the market, look for a big number and for unemployment to drop below 6%. and there will be much rejoicing in the MSM."
I look forward to El Presidente's mission accomplished victory tour.
He's right.....he did say that.
Yeah, he was smart enough not to peg a number. I called for 300K, so no joy. Still, you can expect "above expectation" numbers all the way into the elections.
I called for 300K, so no joy
I didn't pick number either.....but I did sorta allude to be being fairly big.
The whole elections thingy and what not.
come on doc, the govt would never lie to us, these numbers are totally believeable.
the govt always tells the truth
Just go to the Superdome......you'll be fine.
Yes the dome! Go to the dome, yes. They will have Kool-Aide there and other "refreshments".
The dome, the dome
That employment number was just a gift to the Democrats for the next election.....that is the number you will hear in every democratic speech....
Well, if I were going to listen....
BLS: bunch of lying sob's.
Question for ZeroHedgers. The other day you showed the Fed POMO schedule, since there are no purchases on Friday, you said Fridays should be exciting, wouldnt it by Mondays since that is settlement day?
Thanks
ZIp
hope that will help, http://www.newyorkfed.org/markets/tot_operation_schedule.html
Thanks Oak, I have the schedule, my question was if the banks get the money from the operation on settlement date, would'nt Mondays be the days the market has no support? They were getting money every day of the month in the past to support the market, now there are days when there will be no bonds purchased, therefore no money coming in.
my wife has been seriusly looking for a job for 6 months in the NYC area and the only resposnes she gets (if at all) are rejection. i don't know where these jobs are but i don't know anyone finding them.
We've been trying to hire a competent senior web developer in the DC area over the last 4 months -- every candidate has been awful.
Quick! Everyone sell gold!
i think they just sold silver
Everyone sell gold!
More real money for me.....and a few billion of my Chinese friends.
Bearish
Bubble bitchez....
August Jobs: American Worker Displacement Reaches Record High
By Edwin S. Rubenstein on
September 5, 2014, 11:20 pm
Banana Republic
Profits via wage arbitrage!!!
Bullish, BTFD
data detail makes little sense-larbor participaton rate drops, unemplouyed falls 329k, not in labor force up 315k,
but this time the household survey approximates the headline number.
useless number indicative of nothing
Yes, but how about the labor participation rate? It's the best in years!
Since 1978.....or there abouts.
It's just 5.9% unemployment....for those that just really really double dog want to work.
When it is actually 12% to 16%
Ombamo has to see to it that the market is high, job numbers look good, ebola fear spikes in the red states just before the election.
A perfect environment to elect his party members to run the senate.
thank you sir may i have another?
if i believed in coincidence, id believe that there was nothing to the fact that the last UE % dropped below a full-figure # before 2010 election for president & 2012 election for congress.
this should be referred to the used car salesman economy ... on sale now for only $9,999.99 - what a steal
Stronger than expected numbers are not good for US equity bulls. A rising dollar, cratering global GDP, and an end to QE is all that is needed to kill this bubble. This morning, at the open, is a great time for those still overweight US equities to begin unwinding positions.
The bubble is made of steel... unpopable....
"Steely bubbles,
in the wine,
make me happy,
make me feel fine..."
lol, 13/ hr shit jobs that used to pay 13/hr 20 years ago-fwd to 2nd world nation...
Go long bad times
We are rid of you at last
Howdy gay times
Cloudy gray times
You are now a thing of the past
Happy days are here again
The skies above are clear again
So let's sing a song of cheer again
Happy days are here again
This was purely a political print! This is the proverbial "October Surprise."
Unemployment under 6%. 20 % of Americans on food stamps. Makes sense.
By not as much sense as, Gold physical purchases increasing and prices crashing.
I wonder what the quality of jobs are now in comparison to July 2008? Also part time vs full time, since part-time jobs are considered Employed in this report. Also if someone has 2 part-time jobs it is counted as 2 employed people. I'm sure this makes sense to everyone.........
Oh, go ahead, pull my other finger.
This is it, boys - load up, this train's going to the moon! Shit, that was a bad metaphor.
I'm drinking the kool-aid, this bitch is unstoppable, 2+2=5, all that rot.
Why not make it an even 5%? Or 3%
I mean, does it even matter what number you put up? Does anybody take this seriously?
Hooray for part time! Table A-10 at the bottom. Check out the drop in full time vs rise in part time....not seasonally adjusted of course.
Obama delivery just before elections. It's all about politics.
Even the CDC is a politcal arm of Obama.
Numbers will be good at least until the election.
It's all about getting all of Obama's party members elected.
The rate of annualized job growth is now at 1.9%. That is higher than any year since the year 2000. Meanwhile the rate of profit growth is the lowest over the same period excluding recessions.
Just not believing it.
Companies are either making more profts and keeping it off the books, or the employment numbers are wrong. I lend myself to the latter explanation.
I firmly do believe we are transforming a large portion of the jobs from full time to part time. That is really the only other explanation that will work.
Now you know why just yesterday Obama was seen talking up how great the economy has been under his leadership. Someone gave him the number and once again just like in the prior election cycle this one will be proven as bogus.
The economic recovery that the media and talking heads have been bantering around is a manipulated myth. A manipulated stock market distorted by recent economic policy hides and mask the real truth, in many ways it is ground zero in the war to convince us all is well. As a bonus more good news rolls out prior to the election.
The American people and Main Street will tell you they are far from convinced that it is smooth sailing ahead. Huge weakness in the economy has been shown by numbers that barely get by even after record amounts of stimulus. Fact is if QE or the massive government deficit spending that props up our economy is removed it will fold like a cheap umbrella.
Recent changes in how the GDP is figured , which boosted growth thus reducing the debt to growth ratio, and attempts to spin poor numbers regarding employment have been met with skepticism. More on this subject in the article below.
http://brucewilds.blogspot.com/2013/10/myth-of-economic-recovery.html
what a bunch of nay sayers. So now the fed can raise interest rates. Snot.
I do have ebola. Monkeys just flew out of my ass.
HA 5.9 !!!! Tell the 3500 long time Atlantic City employees things are great.
My sister has three part time jobs, not working on the internet, and still only gets 25 hours a week. My wife has two jobs. I technically have two jobs since one company pays me $500 a month for some consulting work.
Three people, seven jobs. That is how you get job gains without increasing employment.
Yeah whatever, same jobs report it will be as long as it's a rigged market. Opening bell today and we'll rocket up 60 points at least on the DJIA and probably 8 on the S&P. Someone has to keep the appearance of the water jug being filled while it's being drilled, tapped and drained from underneath...
Awesome! I'm voting democrat. Debbie Wasserman you're my hero.
barry wants his mid-terms
you know this preaching windbag is going to pump 5.9%
any ex-cons out there who want to get armed and join barry in an elevator? the secret service is hiring
does this mean Old Yeller has been slacking off the job market?
Perhaps we can expect a FED surprise shortly! Afterall, everything is doing splendedly and there is no reason not to raise rates today!
Well who to believe the gubmint or my lying eyes? In the last 45 days one of our larger local employers declared bankruptcy and closed the doors. I work with corp and processing plants in the Food Service industry. Tyson just laid off Culinary staff and relo's the rest to AR. Most likely some will take retirement and or not relo. Pizza Hut Corp has another round of staff reductions... Spirit Aerosystems puts the early retirement squeeze on all workers over 50....Many opting out due to pressure and work environment. Businesses failing but hey the 60 earthquakes we've had this year are making it exciting! (4.0 yesterday) Duh think it has to do with all the Fracking going on? We had had 6 minor tremors in the last 17 years prior to this year...Brother works for Sprint uh layoffs are significant and regular. Profits for all the above down and under continued pressure. Man I obviously need to have my eyes checked how could the gubmint be wrong???
Its a Seasonally adjusted Survey. Think about that for a minute and tell me economics is a science. I would like to expand on this more, but i have to get down to my barber for some blood letting.
It a Saason all right. Election seazon!
This could continue for some time
Happy midterms, Potyomkinskiye Nation.
Last report before Election Day. Why do I think next month's report will disappoint expectations?
I think this chart pretty much speaks for itself... At this rate unemployment will be Zero just like TOTUS.
Food stamps monthly