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Non Farm Payrolls Soar By 243K, Unemployment Rate Drops To 8.3%

Tyler Durden's picture




 

Whopper of a NFP number, which prints at 243K, higher than the biggest forecast of 225K, on consensus expectations of 140K, the biggest jump since February 2009. The devil will certainly be in the revision details.

From the report:

  • Total nonfarm payroll employment rose by 243,000 in January. Private-sector employment grew by 257,000, with the largest employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment was little changed over the month. (See table B-1.)
  • Professional and business services continued to add jobs in January (+70,000). About half of the increase occurred in employment services (+33,000). Job gains also occurred in accounting and bookkeeping (+13,000) and in architectural and engineering services (+7,000).
  • Over the month, employment in leisure and hospitality increased by 44,000, primarily in food services and drinking places (+33,000). Since a recent low in February 2010, food services has added 487,000 jobs.
  • In January, health care employment continued to grow (+31,000). Within the industry, hospitals and ambulatory care services each added 13,000 jobs.
  • Wholesale trade employment increased by 14,000 over the month. Since a recent employment low in May 2010, wholesale trade has added 144,000 jobs. 
  • Employment in retail trade continued to trend up in January. Job gains  in department stores (+19,000), health and personal care stores (+7,000), and automobile dealers (+7,000) were partially offset by losses in clothing and clothing accessory stores (-14,000). Since an employment trough in December 2009, retail trade has added 390,000 jobs.
  • In January, employment in information declined by 13,000, including a loss of 8,000 jobs in the motion picture and sound recording industry.
  • In the goods-producing sector, manufacturing added 50,000 jobs. Nearly all of the increase occurred in durable goods manufacturing, with job growth in fabricated metal products (+11,000), machinery (+11,000), and motor vehicles and parts (+8,000). Durable goods manufacturing has added 418,000 jobs over the past 2 years.
  • Employment in construction increased by 21,000 in January, following a gain of 31,000 in the previous month. Over the past 2 months, nonresidential specialty trade contractors added 30,000 jobs.
  • Mining added 10,000 jobs in January, with most of the gain in support activities for mining (+8,000). Since a recent low in October 2009, mining employment has expanded by 172,000.
  • Government employment changed little in January. Over the past 12 months, the sector has lost 276,000 jobs, with declines in local government; state government, excluding education; and the U.S. Postal Service.
  • The average workweek for all employees on private nonfarm payrolls was unchanged in January. The manufacturing workweek increased by 0.3 hour to 40.9 hours, and factory overtime increased by 0.1 hour to 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.8 hours. (See tables B-2 and B-7.)
 

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Fri, 02/03/2012 - 09:32 | 2122650 asteroids
asteroids's picture

How many people on food stamps again?

Fri, 02/03/2012 - 09:34 | 2122663 King_of_simpletons
King_of_simpletons's picture

Election year theatrics and black magic.

Fri, 02/03/2012 - 09:36 | 2122678 EscapeKey
EscapeKey's picture

Now all we need is our election year war and we're about covered.

Fri, 02/03/2012 - 09:41 | 2122705 LibertyIn2010
LibertyIn2010's picture

They must have run the employment numbers through a DIEBOLD voting machine a few times until they got the results they wanted.

Fri, 02/03/2012 - 09:46 | 2122728 Caggge
Caggge's picture

Obama hired the MF Global accountants to determine the unemployment rate. It will soon vanish to 0.

Fri, 02/03/2012 - 09:51 | 2122757 Normalcy Bias
Normalcy Bias's picture

Unemployment will be VAPORIZED!

Fri, 02/03/2012 - 10:03 | 2122842 Manthong
Manthong's picture

Of course, tax revenue is soaring to support this happy news.. Oh, it's not?

Which part is the government is lying to us. The BLS or the CBO ?

Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10%
http://www.zerohedge.com/news/latest-congressional-budget-outlook-2012-2022-released

Oh.. they both are?   Real unemployment is way north of their numbers?

Fri, 02/03/2012 - 10:27 | 2122990 Normalcy Bias
Normalcy Bias's picture
It sounds like The Ministry of Factiness is having trouble coordinating the lies...and don't forget this other whopper:

The Consumer Price Index for All Urban Consumers (CPI-U) was

 unchanged in December on a seasonally adjusted basis, the U.S. Bureau

 of Labor Statistics reported today. Over the last 12 months, the all

 items index increased 3.0 percent before seasonal adjustment.


They really should add a 'rimshot' after reporting these numbers...

 

Fri, 02/03/2012 - 12:01 | 2123383 TruthInSunshine
TruthInSunshine's picture

LOLstatistic of the day:

Wow. But Is the Number Real? 

February 3, 2012, 10:13 am

By FLOYD NORRIS

How many jobs did the American economy add in January?

 

The Labor Department estimated on Friday that the economy gained 243,000 jobs.

 

The department also estimated that the economy lost 2,689,000 jobs in the month.


The difference in the two numbers is in seasonal adjustment. Employment always falls in January, as temporary Christmas jobs end. So the government applies seasonal adjustment factors in an effort to discern the real trend of the economy apart from seasonal fluctuations. The actual survey showed the big loss in jobs. The seasonal adjustments produced the reported gain of 243,000 jobs.


A reason to doubt the number is that there has been a tendency in this cycle for the seasonal factors to overstate moves, in both directions. Labor mobility is down, as fewer workers quit to seek better jobs and employers both hire and fire fewer people than they used to do. If the seasonal adjustment was too large, then the gain should be smaller.

 

LOLstatistics Moment of the Day, sponsored by JP Morgan.

JP Morgan™ reminds everyone to eat their peas.

Fri, 02/03/2012 - 09:46 | 2122731 LawsofPhysics
LawsofPhysics's picture

No, here is the participation rate, it doesn't look good;

 

http://data.bls.gov/timeseries/LNS11300000

 

Fri, 02/03/2012 - 09:52 | 2122765 HoofHearted
HoofHearted's picture

Seems like the devil just reared his head there in the details. If we drop 250k people off the rolls, then voila! Maybe we have better numbers...

Fri, 02/03/2012 - 09:54 | 2122786 LawsofPhysics
LawsofPhysics's picture

yes, participation down almost 2%, yikes!

Fri, 02/03/2012 - 09:47 | 2122733 Normalcy Bias
Normalcy Bias's picture

I can't wait to see which machine puppet DIEBOLD elects for President. /sarc (It won't matter much either way.)

Fri, 02/03/2012 - 09:53 | 2122773 falak pema
falak pema's picture

send the young to war in moscow to shag the spies and let the old hold the fort Alamo and make the cars. Hows that?

Leg before FSB wicked and woodpecker before Gum Red Square girly ticket is the agenda, as Moscow burns in risk on play. 

Fri, 02/03/2012 - 09:39 | 2122695 Chump
Chump's picture

That's racist!

Fri, 02/03/2012 - 09:47 | 2122729 MillionDollarBonus_
MillionDollarBonus_'s picture

The global recovery is back, and there's nothing doomer libertarians can do to stop it. Interest rates are low and economic growth remains steady, all of which bodes well for the Obama/Biden 2012 campaign. Libertarians have been DEAD WRONG about the economy, however much they lack maturity to admit it.

Fri, 02/03/2012 - 09:53 | 2122732 LawsofPhysics
LawsofPhysics's picture

So explain this then;  Participation rate down almost 2%, crap!

http://data.bls.gov/timeseries/LNS11300000

Go long MDB, by all means, go long.  MDB still believes that when people stop participating, they simply "disappear and don't require food or fuel.

Never quite figured out how the "peek-a-boo" game worked huh MDB?

 

 

Fri, 02/03/2012 - 09:53 | 2122771 MillionDollarBonus_
MillionDollarBonus_'s picture

Explain this then:

http://mortgage-x.com/general/historical_rates.asp

Consumer loans have never been cheaper, and Americans are spending us into a new golden age.

Obama/Bernanke 2012!!

Fri, 02/03/2012 - 10:27 | 2122797 LawsofPhysics
LawsofPhysics's picture

And where are WAGES again?  Did they go up?  NO.  People buying more crap (like McMansions) they can NOT pay for just proves you are an idiot.  Thanks for helping point that out.

Fri, 02/03/2012 - 12:55 | 2123622 SAT 800
SAT 800's picture

Thank God for you, kind sir; I was getting worried for a minute there.

Fri, 02/03/2012 - 09:53 | 2122775 BLOTTO
BLOTTO's picture

MDB has no soul... and reeks of the Axe spray - 'Hidden Agenda'

Fri, 02/03/2012 - 09:57 | 2122814 Chump
Chump's picture

It's back??  But you've always said it never left!  You must have commented before your second cup of coffee; if you were on your game like we all expect you to be, you would have said something along the lines of, "...the global recovery is clearly strengthening, despite the wailing of nerdy doomer libertarians blah blah blah..."  Really, I know it's Friday but get your shit together man.

http://www.youtube.com/watch?v=vimZj8HW0Kg

Fri, 02/03/2012 - 09:48 | 2122737 BLOTTO
BLOTTO's picture

I agree King...

I think they are jocking the horses around to get Obamatariat the win and in for his second term...

He needs to fulfill his prophecy...as i think #44 will have a very interesting - end.

 

 

Fri, 02/03/2012 - 09:52 | 2122763 johnQpublic
johnQpublic's picture

black magic indeed, from the black magician....

 

do an analysis of packaging manufacturers if you want a real look at the economy

if you cant sell boxes, its because no one is making anything to put in them, and thats because no one is buying what comes in them, because they are unemployed, because they got downsized from the box plant, because no one was buying boxes

Fri, 02/03/2012 - 10:13 | 2122898 spastic_colon
spastic_colon's picture

they must have read the stat that no president has been re-elected with a rate above 8%...........look for 7.9 by November.....or 7.8 so it doesn't look obvious

Fri, 02/03/2012 - 09:35 | 2122665 Shocker
Shocker's picture

Oh isn't this wonderful, a drop in unemployment rate.. Yippie.. The numbers are horrible and its amazing they are still telling us theses numbers.

Keep saying Recovery, it might stick by 2020.

http://www.dailyjobcuts.com

 

Fri, 02/03/2012 - 09:35 | 2122672 EscapeKey
EscapeKey's picture

...and the deficit, how large is it again?

And states and muni's? They're all doing well (even California), right?

Fri, 02/03/2012 - 09:52 | 2122761 Eireann go Brach
Eireann go Brach's picture

Long live King Barack O'robyomaama, rebuilding Amerika one foodstamp at a time!

Fri, 02/03/2012 - 10:13 | 2122896 Kaiser Sousa
Kaiser Sousa's picture

put some bass n ur voice and repeat after me...

"look man....i said i aint falling for that banana in the tailpipe routine...."

Fri, 02/03/2012 - 12:51 | 2123605 SAT 800
SAT 800's picture

It's an election year; the propaganda machine is whirling and flashing. Actually, it's the election year.

Fri, 02/03/2012 - 09:32 | 2122651 Hippocratic Oaf
Hippocratic Oaf's picture

Riiiiight.

Don't believe it.

Fri, 02/03/2012 - 09:33 | 2122653 the not so migh...
the not so mighty maximiza's picture

QEVIIII assured     ... YES WE CAN!!!!!!!

Fri, 02/03/2012 - 09:47 | 2122736 francis_sawyer
francis_sawyer's picture

YES WE (kick the) CAN!!!!

there, fixed it...

Fri, 02/03/2012 - 09:33 | 2122654 RacerX
RacerX's picture

Bull[ish|shit]!

Fri, 02/03/2012 - 09:35 | 2122674 Ruffcut
Ruffcut's picture

The bullshitis overdone and now moving to horseshit.

Fri, 02/03/2012 - 09:40 | 2122697 Id fight Gandhi
Id fight Gandhi's picture

no way man, we can still make it to dogshit. Yes we can!

Fri, 02/03/2012 - 10:00 | 2122825 francis_sawyer
francis_sawyer's picture

rubber dogshit is the way to go...

Fri, 02/03/2012 - 17:38 | 2124846 Abiotic Oil
Abiotic Oil's picture

It's just Obama making more "Shovel Ready Jobs".

Fri, 02/03/2012 - 09:33 | 2122656 death_to_fed_tyranny
death_to_fed_tyranny's picture

All is Well! This most certainly is Bullish!

sarc off

Fri, 02/03/2012 - 09:33 | 2122658 fonzannoon
fonzannoon's picture

Obama in a landslide and shorts to get mauled again. Happy Friday

Fri, 02/03/2012 - 09:34 | 2122659 flyonmywall
flyonmywall's picture

Right. And I have a good Greek island to sell you too. Hah !

 

Fri, 02/03/2012 - 09:34 | 2122660 GeneMarchbanks
GeneMarchbanks's picture

LOL.

Fri, 02/03/2012 - 09:45 | 2122725 swissaustrian
swissaustrian's picture

LOL at the precious metals manipulation.

Thanks to Andrew Maguire for exposing this!
http://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)#Market_Manipulation

Fri, 02/03/2012 - 09:34 | 2122662 silvertrain
silvertrain's picture

wow..

Fri, 02/03/2012 - 09:34 | 2122664 morph
morph's picture

And I bet the employment rate still continues lower. 

Fri, 02/03/2012 - 09:34 | 2122666 Id fight Gandhi
Id fight Gandhi's picture

So is this risk on or off? Ya know cause bad news is good. No QE needed...

Fri, 02/03/2012 - 09:57 | 2122667 SheepDog-One
SheepDog-One's picture

Theyre so desperate now. Biggest top-tick ever?

Fri, 02/03/2012 - 09:34 | 2122668 lizzy36
lizzy36's picture

No QE3

Obama just got re-elected.

Good day all.

Fri, 02/03/2012 - 09:36 | 2122681 LawsofPhysics
LawsofPhysics's picture

Come on lizzy, QE has never stopped, ZIRP and swap windows for ever!

Fri, 02/03/2012 - 09:37 | 2122687 GeneMarchbanks
GeneMarchbanks's picture

'Obama just got re-elected.'

Waaaaaay too early. Give him a chance, he can fuck this up easily.

Fri, 02/03/2012 - 10:11 | 2122886 francis_sawyer
francis_sawyer's picture

Only way he could fuck it up now would be to do something stupid like go & get himself killed...

& even if that happened... They'd put him in an ambulance and rush him off to a secret Naval hospital... He could be dead, but they'll do staged press conferences (from the hospital room for the next 4 years)... Kind of like Bin Laden...

Then, after the next 4 years are up, he'll mysteriously take a turn for the worse & they'll sadly have to pull the plug and bury him at sea...

 

Fri, 02/03/2012 - 12:59 | 2123634 SAT 800
SAT 800's picture

LOL. You're very cynical.

Fri, 02/03/2012 - 09:49 | 2122740 Boston
Boston's picture

Or Ben does QE3 anyway, ostensibly on the basis of forward-looking indicators of stress (think about his most recent statements), but in reality because he "owes" Obama.

He'll argue that the recent jobs reports are lagging indicators and that we need to do QE3, "just to be sure" we reach escape velocity with GDP growth, job creation, etc.

Fri, 02/03/2012 - 09:34 | 2122669 ekm
ekm's picture

It's all calculated in order not to go with QE3. Congress opposes it, so they have to come up with something to justify no QE3.

Buy, buy QE3 until March 20.

Fri, 02/03/2012 - 09:35 | 2122671 Cassandra Syndrome
Cassandra Syndrome's picture

Let me guess more people have fallen out of the labour force than gained employment again? But what the hell, keep the hopium flowing.

Fri, 02/03/2012 - 09:42 | 2122693 Cassandra Syndrome
Cassandra Syndrome's picture

Yep, increase of 90,000 in employment and nearly 200,000 fall out of the labour force. No doubt CNBC and Bloomjerk will stress this point soon.....

 

EDIT: U6 is 16.2%

Fri, 02/03/2012 - 09:35 | 2122673 Starving Artist
Starving Artist's picture

Doesn't matter if it's real or not, it's a masterpiece of engineering either way

Fri, 02/03/2012 - 09:37 | 2122682 Ruffcut
Ruffcut's picture

A masterpiece made of shit.

Fri, 02/03/2012 - 13:01 | 2123649 SAT 800
SAT 800's picture

"Manufacturing consensus"; it sounds so nice. much better than brainwashing.

Fri, 02/03/2012 - 09:35 | 2122675 LawsofPhysics
LawsofPhysics's picture

Go long! I promise to hit you in the endzone.

Fri, 02/03/2012 - 09:35 | 2122676 apberusdisvet
apberusdisvet's picture

At this rate, Obama will get re-elected with only 4.5% unemployment; but that's the whole point of these phony numbers, isn't it?  It will be interesting to see Shadowstats take on this.

Fri, 02/03/2012 - 09:35 | 2122677 grunk
grunk's picture

Great!  Let's celebrate by bombing Iran!

Fri, 02/03/2012 - 09:36 | 2122679 SokPOTUS
SokPOTUS's picture

I call not only Bullshit, but F'n Bullshit.

 

 

Fri, 02/03/2012 - 09:36 | 2122680 alien-IQ
alien-IQ's picture

unemployment rate at lowest since 2009...and if you believe that...I know of a lovely bridge for sale...It's a bargain!

I can't wait so see the participation rate.

Fri, 02/03/2012 - 09:37 | 2122684 pepperspray
pepperspray's picture

The Groundhog Strikes Back

Fri, 02/03/2012 - 09:39 | 2122694 SokPOTUS
SokPOTUS's picture

The Groundhog saw his shadow (stats); 6 more years of 'bama...

Fri, 02/03/2012 - 11:37 | 2123249 roadhazard
roadhazard's picture

heh, good one.

Fri, 02/03/2012 - 09:37 | 2122685 Raskolnikoff
Raskolnikoff's picture

Obama and gang are doing a great job. We need to make the safety net even stronger and Buffet's secretary should be making at least a quarter of what her boss pulls in. We all know behind every great man is an even greater woman!

Fri, 02/03/2012 - 09:37 | 2122686 SheepDog-One
SheepDog-One's picture

Its what tyranny looks like....enjoy.

Fri, 02/03/2012 - 10:11 | 2122887 slewie the pi-rat
Fri, 02/03/2012 - 09:39 | 2122688 silvertrain
silvertrain's picture

Hhaha, Silver got a little bounce on the crazy # due to its industrial uses..

 

 Mining jobs have expanded 172k since 10-09 hahaha

Fri, 02/03/2012 - 09:38 | 2122689 mspgrandi
mspgrandi's picture

Rather than sit here and moan all day... leverage in this is one of the biggest adn simplest opportunity of your life... All in Rally on at least until next LTRO!!!!!!!!!

 

Make money leave the moan to someone else

Fri, 02/03/2012 - 10:17 | 2122930 Chump
Chump's picture

Right.  Who gives a shit about the sorry state of your native country's affairs?  Make some effin' money whoooooooo!

Fri, 02/03/2012 - 13:03 | 2123657 SAT 800
SAT 800's picture

"money" is what you use to buy the silver with; "Chump".

Fri, 02/03/2012 - 09:38 | 2122690 ekm
ekm's picture

This guarantees no QE3. Hence stock market collapse soon. No fresh new printed money coming in. The primary dealers must be miserable right now.

Fri, 02/03/2012 - 09:55 | 2122795 SheepDog-One
SheepDog-One's picture

Thats the way Im seeing it, signal to the banks with their hands out pleading for more free money 'Sorry, sink or swim bitches, we dont need most of you now'.

Fri, 02/03/2012 - 09:38 | 2122691 GolfHatesMe
GolfHatesMe's picture

Nomura had the number, - only company

Fri, 02/03/2012 - 09:42 | 2122714 The_Emperor
The_Emperor's picture

Yes Nomura Securities had the proper estimate, but look at what they forecasted the previous months, they were quite off.

These guys just take wild guesses of the rate, one of them will fall on the good number from time to time :)

http://theimperatore.blogspot.com

Fri, 02/03/2012 - 09:38 | 2122692 HD
HD's picture

If they run it up and sell it off - I will increase my short position. They keep circling back to 1325 on no volume.

Fri, 02/03/2012 - 09:45 | 2122726 Non Passaran
Non Passaran's picture

Shit, that's a good idea. I'll add 30% to my existing short position.
It seems 10-11am could be the right time to do that, or maybe even earlier.

Fri, 02/03/2012 - 09:39 | 2122696 Dr. Engali
Dr. Engali's picture

So I suppose 243,000 people dropped off food stamps then.

Fri, 02/03/2012 - 09:40 | 2122698 SheepDog-One
SheepDog-One's picture

I dont want to hear 'the shits good'...I want my free money I was promised and I want it right NOW!

Fri, 02/03/2012 - 10:14 | 2122908 francis_sawyer
francis_sawyer's picture

call JG Wentworth... 877 CASH NOW

Fri, 02/03/2012 - 09:41 | 2122701 SmoothCoolSmoke
SmoothCoolSmoke's picture

Must. Have. Happy. Football. Ads. Day.

Fri, 02/03/2012 - 09:41 | 2122702 mc_LDN
mc_LDN's picture

So its about time someone investigated the people coming up with these numbers. There has to be an insider somewhere who can bust this bollocks up for what it is.

Fri, 02/03/2012 - 09:45 | 2122703 SDRII
SDRII's picture

nonseasonal  numbers negative. houshold NSA negative. Not in labor force up by ~1M. Great number. What a joke.

Fri, 02/03/2012 - 09:41 | 2122704 kurzdump
kurzdump's picture

Thats great news. Economy fixed, markets happy.
We were wrong, there wont be any crisis, oil will regenerate forever, fiat wont inflate and precious metals are backed by nothing.

Thanks Barry, thanks ministry of propaganda.

Fri, 02/03/2012 - 09:41 | 2122706 JPM Hater001
JPM Hater001's picture

This is my favorite lie so far.

Fri, 02/03/2012 - 09:41 | 2122707 adr
adr's picture

So the NFP is higher by almost twice over the ADP report this time??? They don't even care about reporting the truth anymore. Well maybe Sears and JCP hired a whole bunch of people to process inventory for clearance before they go bankrupt.

Fri, 02/03/2012 - 09:42 | 2122708 Iconoclast
Iconoclast's picture

Could these figures be real? Putting aside the cynicism that's one helluva jump from the Reuters and Bloomberg consensus..it can't just be manipulation and that's assuming the bls has been got at or somehow changed it's methodology.. Just sayin, not flamin.. ;-)

Fri, 02/03/2012 - 09:44 | 2122719 LawsofPhysics
LawsofPhysics's picture

Let's see what the participation rate is.

Fri, 02/03/2012 - 10:17 | 2122928 catacl1sm
catacl1sm's picture

http://www.bls.gov/web/empsit/cpseea03.htm#cps_eande_m03.f.1

 

Participation down from 64% to 63.7%. Largest decrease in the past year. BAM. There's your 8.3% unemployment number there.

 

There is a footnote on the BLS site that reads, "Updated population controls are introduced annually with the release of January data." Throughout 2011, population increased in the 100's of thousands range on a monthly basis. The difference between Dec 2011 population and Jan 2012 is about 1.7 MILLION.

The number of employed people incrased by 508,000.

The number of "not in labor force" increased by almost 1.2 MILLION. BAM. There's your 8.3% unemployment number there.

Fri, 02/03/2012 - 09:55 | 2122792 SokPOTUS
SokPOTUS's picture

Who ya gonna believe, eh?  Obama or yer lyin' eyes?

Fri, 02/03/2012 - 09:42 | 2122709 falak pema
falak pema's picture

Moses at the Red sea crossing...alle luiiaaah, I see the promised land!...O'bammy cries victory to November. ROmney says, its thanks to me. Ron PAul says its flash and false mirrors, no writing on the wall. 

No country for old young men as there are jobs. Time to retire fellas, let the young carry the can. 

Fri, 02/03/2012 - 14:37 | 2124125 Raging Debate
Raging Debate's picture

Both young and old are carrying the can Falak. I question though why carrying a can of toxic lead around is better than a lighter, non-toxic version.

Fri, 02/03/2012 - 09:42 | 2122710 AN0NYM0US
AN0NYM0US's picture

Tom Keene is currently having an econorgasm

Fri, 02/03/2012 - 09:42 | 2122711 CrimsonAvenger
CrimsonAvenger's picture

I call shenanigans -

Fri, 02/03/2012 - 09:42 | 2122712 Sandy15
Sandy15's picture

It's crap by the NY Fed because the dollar is not going up with the market.  They first had to slam the dollar down to get the market to move up.

Watch the correlation with the market, when market and dollar move in tandum, it's not digital money from the NY FED, but real market movers called investors.

Fri, 02/03/2012 - 09:43 | 2122715 Catullus
Catullus's picture

Yes!  Blowoff top time.

Fri, 02/03/2012 - 09:48 | 2122716 WhiteCap
WhiteCap's picture

No QE.

That's all you need to know.

Fri, 02/03/2012 - 09:44 | 2122717 TheHillrat
TheHillrat's picture

Obama! Obama!

Fri, 02/03/2012 - 09:44 | 2122718 digitlman
digitlman's picture

has anyone posted yet that this has to be a made up number?

LOL

Fri, 02/03/2012 - 09:44 | 2122721 stlouistrader
stlouistrader's picture

the only devil is being short this market...no negative details no matter how one spins this

Fri, 02/03/2012 - 09:48 | 2122745 Dr. Engali
Dr. Engali's picture

I don't think there is anybody short this market. If they are they're stupid. Not that is shouldn't be shorted, bt they are going to prop this pig up no matter what.

Fri, 02/03/2012 - 09:44 | 2122722 ABG LINE
ABG LINE's picture

Umm, LoL?

Fri, 02/03/2012 - 09:45 | 2122723 ekm
ekm's picture

There's no difference in the methodology between US economic data and China economic data. They're both decided (not calculated) based on the political need of the moment. This number makes sure there's no QE3 coming until March 20, Greek default.

Fri, 02/03/2012 - 09:46 | 2122730 Kaiser Sousa
Kaiser Sousa's picture

do these numbers include all the poor bastards dressed up n chicken suits waving signs trying to sell tax services and homes...

or maybe just the people at every freeway exit with signs asking for food and "a little help"...

fucking bullshit...wait aint there an election coming up soon?????????????????????????????????????

Fri, 02/03/2012 - 10:18 | 2122932 francis_sawyer
francis_sawyer's picture

caddies & greenskeepers at the local Washington area golf clubs...

Plus a few more valets & service staff for the Missus... I think they 'created' a position for an assistant deputy dog walker...

Fri, 02/03/2012 - 10:29 | 2122998 MeanReversion
MeanReversion's picture

80,000 low paid jobs, so yes.

Fri, 02/03/2012 - 09:49 | 2122735 MeanReversion
MeanReversion's picture

You can guarantee that the payroll tax cut extension will be torpedoed now.

Fri, 02/03/2012 - 09:48 | 2122742 eBuddha
eBuddha's picture

"As Goldman says, 'nonfarm payroll growth should slow on seasonal and weather-related factors'"

 

do those assholes ever get it right?  did the 08/09 crisis gut the place and now it's all interns?

Fri, 02/03/2012 - 09:48 | 2122743 Hans Gruber 1962
Hans Gruber 1962's picture

Oh good,  the crisis is over......we can all go back to spending money we don't have.

Fri, 02/03/2012 - 09:48 | 2122744 FLUSA.com
FLUSA.com's picture

Wow...it's great to hear things are getting better.....OK...you can punch me in the face now..

 

Fri, 02/03/2012 - 09:49 | 2122746 nasa
nasa's picture

McDonald's is rebuilding the economy one Big Mac maker at a time.  

Fri, 02/03/2012 - 10:00 | 2122828 SokPOTUS
SokPOTUS's picture

yea, but their former pink slime supplier is laying off people in droves...

Fri, 02/03/2012 - 09:49 | 2122748 razorthin
razorthin's picture

This is either:

A) Bullshit

B) An indicator that hyperinflation is commencing

Fri, 02/03/2012 - 09:52 | 2122768 alien-IQ
alien-IQ's picture

Ummm...I'll go with "A"...final answer.

Fri, 02/03/2012 - 09:50 | 2122749 bugs_
bugs_'s picture

The sun is coming up.  Springtime is at hand.  It is all MicroEconomics now.

Fri, 02/03/2012 - 09:50 | 2122750 vegas
vegas's picture

From the stat hacks at BLS; anything to get Chalky Hussein Soetero reelected is the main goal. Can't wait to see how many people were taken out of the labor force to get this imaginary number. Amerikans live in a delusional country.

 

http://vegasxau.blogspot.com

Fri, 02/03/2012 - 09:50 | 2122751 SmoothCoolSmoke
SmoothCoolSmoke's picture

It was curious this morning.  NPR opened the 7 am hour with an NFP release story.... and their report "tone" was that there was little doubt it was expected to be good news,   Something told me "uh-oh".  Hmmmmmmmmmmmmm, have the MSM set the stage for the home run you've cooked-up.  And sure enough..."there's' a long fly ball..........!" 

 

Fri, 02/03/2012 - 09:50 | 2122752 alien-IQ
alien-IQ's picture

USD going parabolic now and the /ES pretending not to see it.

Fri, 02/03/2012 - 09:51 | 2122753 AN0NYM0US
AN0NYM0US's picture

I think Bill Gross just referred to  his company has Pimpco - when the broadcast is posted we shall listen again very carefully

Fri, 02/03/2012 - 09:50 | 2122754 WhiteCap
WhiteCap's picture

There's no way that Ben can justify another round of QE with these numbers.  

Fri, 02/03/2012 - 09:57 | 2122808 WonderDawg
WonderDawg's picture

It's amazing that people are still calling it QE. "QE" has been on going, it just isn't being called QE, and never will be. There will not be a QE3, but that doesn't mean they aren't funneling money into the system, they just aren't telling you about it, other than ZIRP, which if I'm not mistaken, could be considered QE if they wanted to call it that.

Fri, 02/03/2012 - 09:50 | 2122755 qussl3
qussl3's picture

I smell a pm margin hike, perfect setup today.

Big number then big reversal, lease rates just turned positive again too.

Bad juju.

Fri, 02/03/2012 - 09:51 | 2122756 highwaytoserfdom
highwaytoserfdom's picture

Lets suguest a new name for the BLS....  

suguestions ?

BS 

Fri, 02/03/2012 - 10:20 | 2122945 francis_sawyer
francis_sawyer's picture

Barry's Lying Stats

Fri, 02/03/2012 - 15:22 | 2124152 Goldilocks
Goldilocks's picture

Barry's Ben Whorkin’ it.

Fri, 02/03/2012 - 09:52 | 2122762 Rentenmark
Rentenmark's picture

Supposedly there are still 6 million fewer jobs than before the recession began.  How does a jump of 250k jobs move the unemployment number from 8.7% to 8.3% and there still be 6 million jobs left unfilled?  If we filled the remainig 6 million we would have a negative unemployment rate!  This does not add up!!!!

Fri, 02/03/2012 - 09:52 | 2122766 Peter K
Peter K's picture

Joe LaVorgna got one right. You owe him an appology. :-)

Fri, 02/03/2012 - 09:52 | 2122767 Rentenmark
Rentenmark's picture

Supposedly there are still 6 million fewer jobs than before the recession began.  How does a jump of 250k jobs move the unemployment number from 8.7% to 8.3% and there still be 6 million jobs left unfilled?  If we filled the remainig 6 million we would have a negative unemployment rate!  This does not add up!!!!

Fri, 02/03/2012 - 10:05 | 2122856 wonderatitall
wonderatitall's picture

QUESTIONING THE MINISTRY OF TRUTH IS RACIST

Fri, 02/03/2012 - 09:53 | 2122769 AU5K
AU5K's picture

I promise the goal is to be at <7.5% by election day.  A 7.3 october print guarantees reelection.  they dont care how many are removed from the labor force to 'fix' the denominator.

 

unemployment is what we say it is.

Fri, 02/03/2012 - 10:03 | 2122847 wonderatitall
wonderatitall's picture

YES MR SMITH....2 PLUS 2 = 5. WHY? BECAUSE WE SAY SO!

Fri, 02/03/2012 - 09:53 | 2122770 ejmoosa
ejmoosa's picture

Take this number and then compare year over year improvements if you want to take out the hype and smoke.

 

You will have a better feel for what is going on.   

And you won't be sucked into all the noise....

 

 

Fri, 02/03/2012 - 09:53 | 2122780 michaelsmith_9
michaelsmith_9's picture

Here is a look at the ES, EURUSD, and CL.  Our bullish expectations continue for the weeks ahead.  http://bit.ly/yQAjAy

Fri, 02/03/2012 - 09:54 | 2122785 Roland99
Roland99's picture

Sooo...tax revenues should start rising, eh?  All them withholding taxes surely must be pouring in now!

 

Fri, 02/03/2012 - 09:55 | 2122789 WhiteCap
WhiteCap's picture

Check out the labor force participation rate. It's fresh 30 year low of 63.7%
How bullish is that!! 

Fri, 02/03/2012 - 10:02 | 2122837 SheepDog-One
SheepDog-One's picture

Sure thats how they do it, when we have 10 people left in the labor force, unemployment will be 0%.

Fri, 02/03/2012 - 10:06 | 2122862 adr
adr's picture

If the economy actually added jobs wouldn't the labor participation rate go up???

Fri, 02/03/2012 - 09:55 | 2122793 Moneyswirth
Moneyswirth's picture

A 243K increase in NFP is pathetic, and an 8.3% unemployment rate is equally atrocious, nothing to cheer for in the least.  It's truly pathetic that the media lemmings and leftists propagandists will eat this up and churn it out on tonight's nightly news broadcasts, as we sloth-like, overweight Americans munch on our hot-pockets wondering how we will pay the mortgage as our bratty kids play with their custom-engraved iPads.

Indeed, its even more sad that this "good" news just might be enough to re-elect the Obamaoist in Chief to another term, a term in which he will have nothing to run for.  You ain't seen nothing yet.

Cheers!

Fri, 02/03/2012 - 10:03 | 2122843 SheepDog-One
SheepDog-One's picture

Its only Feb....LONG way till Nov a lot can happen.

Fri, 02/03/2012 - 09:59 | 2122824 sabra1
sabra1's picture

canada has a better economy, but:

OTTAWA — There was little job growth in Canada in January, Statistics Canada said Friday.

The economy created a negligible 2,300 net new jobs in the month as layoffs in construction and professional services offset modest hiring in manufacturing, Statistics Canada said on Friday. The jobless rate ticked higher to 7.6% from 7.5%because more people were looking for work, the agency said.

The Canadian dollar weakened to a session low of 99.76 U.S. cents after the data.

 

Analysts in a Reuters poll had predicted 23,100 new positions and a jobless rate holding steady from December at 7.5%.

 

Fri, 02/03/2012 - 10:01 | 2122831 SheepDog-One
SheepDog-One's picture

No QE, big market top tick here....Ben is signaling 'sink or swim' to the banks and to get short, guaranteed.

Fri, 02/03/2012 - 10:01 | 2122832 grunk
grunk's picture

Sell all your physical gold and get into Facebook NOW!

Fri, 02/03/2012 - 10:04 | 2122848 SheepDog-One
SheepDog-One's picture

They wish....but yea thats all this is about as much as anything else. 'Hey lets get the last short to go long, then pull the rug out'. Whatever, everyones on their own at this point.

Fri, 02/03/2012 - 10:03 | 2122841 Monedas
Monedas's picture

OWS fades away as employment surges !  Monedas  2012  Happy Daze

Fri, 02/03/2012 - 10:03 | 2122844 adr
adr's picture

I thought something was funny when gasoline was $3.09 at my local gas stations at 3pm and then skyrocketed to $3.55 at 7pm. This report was leaked somewhere. Everyone was anticipating a terrible number yesterday because anyone actually working knows January was terrible. The Ministry of BS pulled out all the stops. Did Birth/Death add 400K jobs again?

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