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September NFP Prints At 103,000, Beats Consensus, Even As U-6 Comes At Highest Since December 2010, Manufacturing Jobs Lost

Tyler Durden's picture


So much for the recession? September NFP prints at 103,000 on expectations of 60,000, with August revised to 57,000 from that roulette busting double zero. The unemployment rate held at 9.1 percent, as expected. From the report: "The increase in employment partially reflected the return to payrolls of about 45,000 telecommunications workers who had been on strike in August. In September, job gainsoccurred in professional and business services, health care, and construction. Government employment continued to trend down." Average hourly earnings also came in line with expectations at 0.2%, with the previous revised from -0.1%, to -0.2%. Yet not all is good: manufacturing jobs declined by 13K on expectations of an unchanged number. And, oh yes, real unemployment, U6, printed up from 16.2% to 16.5%, the highest since December 2010.


From the report:

Both the labor force and employment increased in September. However, the civilian labor force participation rate, at 64.2 percent, and the employment-population ratio, at 58.3 percent, were little changed. (See table A-1.)


The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose to 9.3 million in September. These individuals 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, about 2.5 million persons were marginally attached to the labor force, about the same as 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 1.0 million discouraged workers in September, down by 172,000 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 in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)


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Fri, 10/07/2011 - 08:37 | 1749103 HelluvaEngineer
HelluvaEngineer's picture

Oh Lord.  Queue the trolls.

Fri, 10/07/2011 - 08:42 | 1749123 Bartanist
Bartanist's picture

Look! One got the first post! Gratz Troll!

Fri, 10/07/2011 - 08:58 | 1749201 HelluvaEngineer
HelluvaEngineer's picture

Who pissed in your Cheerios?

Fri, 10/07/2011 - 09:44 | 1749393 MillionDollarBonus_
MillionDollarBonus_'s picture

This is a direct result of Obama's previous jobs bills. It took some time, but those investments are finally paying off. This is yet another example of the success of fiscal and monetary stimulus. For those libertarians who STILL don't get it, the following equation explains the result:


Libertarians have been DEAD wrong for the last 5 years. Where's total Armageddon and economic collapse? Where's the hyperinflation? I'm still waiting.

Fri, 10/07/2011 - 12:30 | 1749968 infotechsailor
infotechsailor's picture

u forgot to end with your closing sarcasm tag /SARC to signify that your entire comment was sarcasm... it was sarcasm, right?...




 "The increase in employment partially reflected the return to payrolls of about 45,000 telecommunications workers who had been on strike in August.

Fri, 10/07/2011 - 13:51 | 1750314 Encroaching Darkness
Encroaching Darkness's picture

Oh, it wasn't sarcasm, he's serious(ly delusional).

And the real number for unemployment isn't really calculable, as no one knows how many have given up and are eating on savings, exist in homeless shelters without unemployment benefits, went overseas and are STILL looking for work, etc. The real number closest is probably John Williams' at Shadowstats, and even it should haunt every politician in WDC with endless nightmares.

Play with the numbers all you want; the truth will piss everyone off, and the darkness is still coming. I don't get any thrills from this; it's already a miserable time to be unemployed, broke, young and hopeless, old and without prospects of getting back on the job, or anything else except already wealthy and connected.

Then again, it will suck for them too, after a while. Beans, bullion, bullets, beer, what else have you put by?

Fri, 10/07/2011 - 08:49 | 1749163 stirners_ghost
stirners_ghost's picture

What are they standing in line for?

Fri, 10/07/2011 - 09:12 | 1749269 shaxmatist
shaxmatist's picture

Tyler is amazing. He'll take an incredibly bullish report and nitpick the smallest pessimistic tidbits he can find and make it sound like it was bad!

The term permabear doesnt even begin to describe whats going on in his mind.


Fri, 10/07/2011 - 09:16 | 1749280 taraxias
taraxias's picture

It's not a case of what Tyler says or anyone else for that matter. Are you incapable of critical thinking?


Fri, 10/07/2011 - 09:19 | 1749294 cosmictrainwreck
cosmictrainwreck's picture

hahaha...good one! yer just pulling our crank, right? right?

Fri, 10/07/2011 - 09:24 | 1749321 shaxmatist
shaxmatist's picture

There is no crank.. the report was the best economic news we got all year. But I guess if you look at the world with shit stained glasses, everything looks like shit?

Fri, 10/07/2011 - 10:31 | 1749491 fuu
fuu's picture

"the report was the best economic news we got all year"


103,000 - 45,000 = 58,000

US Median HOUSEHOLD income: $50,046/yr from here.

58,000 * $50,046 = $2,902,668,000/yr

We're all fucking saved!!!

<saddles up his unicorn and rides off into the crepuscular sunset>



Fri, 10/07/2011 - 10:34 | 1749564 Problem Is
Problem Is's picture

"Overall this was a weak report, and only looked decent because expectations were so low."

Calculated Risk

So how do I put this politely...

STFU shaxmatist, you Obummer-bot, Bullshit Barry the Wall Street puppet, TARP lovin', sock puppet shill...

Fri, 10/07/2011 - 10:51 | 1749634 pods
pods's picture

If this was the best economic news all year we are doomed. 


Fri, 10/07/2011 - 11:34 | 1749773 Strike Back
Strike Back's picture

Right, because we're going to be able to treat, teach, and recover striking workers our way out of this recession.  The glasses are on your face.

From the decidedly perma-bullish and mainstream NY Times: "The private sector added 137,000 jobs in September, although that included about 45,000 Verizon workers who had been on strike during August and returned to work by September. As has been the case throughout most of the downturn and tepid recovery, health care and education were among the strongest sectors, adding 45,000 jobs in September."

If you don't get my treat and teach reference, do some research on how service sector employment is a cost and does not improve underlying economic structure.  Manufacturing jobs, which would actually help us pay down debt, have been lost.  This is bad news, not being nitpicky here. 

Fri, 10/07/2011 - 09:24 | 1749320 Schmuck Raker
Schmuck Raker's picture

I'm with ya Shax. Details are for losers!

Tyler your ridiculous, and... and when will you learn that UNemployment does not matter?!

Only EMployment matters!


Fri, 10/07/2011 - 09:35 | 1749365 Jeff Lebowski
Jeff Lebowski's picture

Schmuck Raker

  • Personal information

Beltway Baby;Ski Bum;Cook;Carpenter;Scuba Bum;Family Caregiver. High School Educated. My favorite car is a bicycle. Haven't owned a TV for 10 years. I've traveled a bit.
For years I managed to ignore the follies of my fellow man, and my own. That convenience has recently been stripped from me.

Fri, 10/07/2011 - 09:38 | 1749374 Schmuck Raker
Schmuck Raker's picture


Fri, 10/07/2011 - 10:17 | 1749500 Problem Is
Problem Is's picture

"He peed on the Dude's rug?"

"Fuckin' A, man."

Fri, 10/07/2011 - 11:07 | 1749695 Nascent_Variable
Nascent_Variable's picture

The August number was revised from 0 to 57K.  If you don't see any shenanigans going on, you're fucking retarded.

Fri, 10/07/2011 - 08:38 | 1749105 Cassandra Syndrome
Cassandra Syndrome's picture

Everything is under control.

Fri, 10/07/2011 - 09:00 | 1749205 Popo
Popo's picture

Watch them spin this as positive news.

Unemployment hasn't gone down (at all).  Manufacturing jobs lost.   No positive change... but we beat the estimates of a handful of analysts who are wrong more than 50% of the time.   Woohoo!  It's bullish!   </sarc>

Fri, 10/07/2011 - 09:26 | 1749325 Schmuck Raker
Schmuck Raker's picture

I could tell by the erasure marks all over the report.

Fri, 10/07/2011 - 08:38 | 1749106 SheepDog-One
SheepDog-One's picture

Just all lies and manipulation at this point. 

Fri, 10/07/2011 - 08:39 | 1749116 Shocker
Shocker's picture

If this wasn't more of the same it would be interesting. The numbers suck and pretty much everyone knows it. We continue to lose jobs, but somehow we always come out on top.

For a complete list -

Fri, 10/07/2011 - 09:01 | 1749213 scatterbrains
scatterbrains's picture

When is that U6 crowd gonna finaly burn the fed down ? Maybe the fed needs to print one or two more rounds before it gets to that.

Fri, 10/07/2011 - 08:53 | 1749177 Clorox Cowboy
Clorox Cowboy's picture

But SD1, don't you see?  There's the solution to all our problems...we just need 250,000 workers each month to go on strike and then return to work the following month!  All hail the BLS!

Fri, 10/07/2011 - 08:38 | 1749107 HITMAN56
HITMAN56's picture


Fri, 10/07/2011 - 08:38 | 1749108 lapedochild
lapedochild's picture

Futures seemed to like it...

Fri, 10/07/2011 - 08:48 | 1749157 HelluvaEngineer
HelluvaEngineer's picture

Dollar is in the process of tanking (again)

Fri, 10/07/2011 - 08:55 | 1749189 I think I need ...
I think I need to buy a gun's picture

thats why the system in fiat money is broken,,,,,the only way the stock market goes up is if dollar weakens,,,,if we continue to weaken the dollar forever oil goes up forever......thats why the system has to change right there commodities need the gold standard and the stock market needs fiat money,,,,,introduce Reference point of course oil priced in gold probably won't go over well with the populace....

Fri, 10/07/2011 - 10:41 | 1749579 Problem Is
Problem Is's picture

"if we continue to weaken the dollar forever..."

"We'll worry about that next quarter" said the Bernank to Jeethner as they warmed up the Fed-copter for action... "Have you got a better plan, Timmah?"

Fri, 10/07/2011 - 08:38 | 1749109 Dreadker
Dreadker's picture

So an increase of 58k workers, lower than the forecast 59k is what actually happened... but good old knee jerk "we're saved" wall street response lol  And its still 9.1% unemployment but everything is ok now, all in on the hedge funds and derivatives ponzi scheme!


Loved the daily shows piece on occupy wall street.... Hippy Nazis XD lol

Fri, 10/07/2011 - 08:39 | 1749110 Shocker
Shocker's picture


Fri, 10/07/2011 - 09:04 | 1749230 IBelieveInMagic
IBelieveInMagic's picture

does the dot represent a comment -- if so, how to view?

Fri, 10/07/2011 - 10:43 | 1749598 Problem Is
Problem Is's picture

He's a more efficient worker... can post more comments " . " by being to lazy to write...

Fri, 10/07/2011 - 15:15 | 1750677 sullymandias
sullymandias's picture

It originally said "..." but then he has second thoughts and went back and edited it.

Fri, 10/07/2011 - 08:39 | 1749111 LongSoupLine
LongSoupLine's picture

When market moving rumor tools are spent, move back to fixed data.  The fix is in and here's the ramp.  horseshit.

Fri, 10/07/2011 - 08:46 | 1749140 TradingJoe
TradingJoe's picture

The Ramp will be Faded as we reached the "saturation level" and profit taking will ensue shortly, see ya @ 1010SP!

Fri, 10/07/2011 - 08:55 | 1749174 Zeilschip
Zeilschip's picture

That's 100+ ES points in four days... I've a feeling tho, that unless Europe finds a way to have their bankrupt governments recapitalize their bankrupt banks and at the same time not let the PIIGS default, this bear rally squeeze will fade next week.

Fri, 10/07/2011 - 08:39 | 1749112 Joshua Falken
Joshua Falken's picture

These numbers are sooo open to revision they are next to worthless and yet the day trading lemmings jump off the cliff anyway.


Fri, 10/07/2011 - 08:39 | 1749113 swissaustrian
swissaustrian's picture

I don´t buy the hopium. I stay sober

Fri, 10/07/2011 - 08:39 | 1749114 sabra1
sabra1's picture

do U.S. teachers collect unemployment during summer holidays, and if so, are included in the septembers NFP when they return to work?

Fri, 10/07/2011 - 08:49 | 1749160 the not so migh...
the not so mighty maximiza's picture

i was told they collect reguler paycheck

Fri, 10/07/2011 - 08:49 | 1749165 Corn1945
Corn1945's picture

They do not collect unemployment.

Fri, 10/07/2011 - 08:39 | 1749115 TheLooza
TheLooza's picture

its a celebration bitchez.

now, allow me to show you how the headfake game works.  this fucking slut closes red today.

Fri, 10/07/2011 - 08:56 | 1749195 SheepDog-One
SheepDog-One's picture

Probably time to chop the bulls horns now, certain we're now embarked on a no risk rally.

Fri, 10/07/2011 - 09:27 | 1749328 fuu
fuu's picture

Have you had your personal time with any of the robots yet?

Fri, 10/07/2011 - 22:32 | 1752000 TheLooza
TheLooza's picture

Learned the hard way never stick my weenie in things that got smoke coming out of'em. Them machines working overtime, these days. Hot metal.

So fucking horny though.


Fri, 10/07/2011 - 08:40 | 1749117 rubearish10
rubearish10's picture

This shot goes on for at least another month now.....

Fri, 10/07/2011 - 08:57 | 1749197 SheepDog-One
SheepDog-One's picture

Or so they want everyone to believe.

Fri, 10/07/2011 - 08:40 | 1749118 ziggy59
ziggy59's picture

Wow! 2000 jobs/STATE/MONTH?...  yes!! thing are so great!!

Fri, 10/07/2011 - 08:40 | 1749119 smlaz
smlaz's picture

Oh boy!  Nevermind the reality.  It's Hunter S. Thompson time.  SPYs are up 1.2% now.  These guys are insane.  I"m short short short.  Holding on for dear life...

Fri, 10/07/2011 - 08:46 | 1749138 WonderDawg
WonderDawg's picture

Good luck. I think you're on the right side of the trade short term, but who really knows? I sold all my puts except LULU, and I'm taking a beating there right now, but I can hold for the next dive. If this week is the beginning of the relief rally I've been expecting, I'll sell those puts on the dip and get long for a month or two.

Fri, 10/07/2011 - 09:11 | 1749262 topcallingtroll
topcallingtroll's picture

Maybe santa will come early.
I believe in santa. Dont let me down, old man.

Fri, 10/07/2011 - 08:40 | 1749120 Skip 2 My Lou
Skip 2 My Lou's picture

Geez. Is everybody working as teleprompter operator for Obama?

Fri, 10/07/2011 - 08:47 | 1749151 LongSoupLine
LongSoupLine's picture

Funny you should say that as Santelli just called Mark Zandi's analysis, " part of Obama's stimulus agenda."

fukin' hilarious!

Fri, 10/07/2011 - 08:41 | 1749121 bnbdnb
bnbdnb's picture

Sweet, time for FAS.

Fri, 10/07/2011 - 08:43 | 1749125 Medea
Medea's picture

The more they manipulate, the greater the coming crash.

Fri, 10/07/2011 - 08:43 | 1749126 dwdollar
dwdollar's picture

Well then... I guess more FED action is out of the question? I still call BS...

Fri, 10/07/2011 - 08:45 | 1749134 Dreadker
Dreadker's picture

We all know FED action is NEVER out of the question... Even when its publically 'out of the question' its still doing its thing... Magicking up some money out of thin air....

Fri, 10/07/2011 - 08:48 | 1749127 virgilcaine
virgilcaine's picture

I give this rally about 15 minutes.  then red. Or hold those little stock ieds over the weekend.

Fri, 10/07/2011 - 15:34 | 1750775 French Frog
French Frog's picture

The longest 15 mins ever


Fri, 10/07/2011 - 08:44 | 1749130 Cassandra Syndrome
Cassandra Syndrome's picture

Ouch! Santelli just after infered Zandi was bearish on the numbers only because it suits Obama's agenda for the freaking Jobs Bill!



Fri, 10/07/2011 - 08:46 | 1749143 SheepDog-One
SheepDog-One's picture

What do we need a $500 billion jobs bill for? Hiring is off the hook now! Right?

Fri, 10/07/2011 - 08:44 | 1749131 Fips_OnTheSpot
Fips_OnTheSpot's picture

Anyone saw the deer?

Fri, 10/07/2011 - 08:44 | 1749132 Dr. Engali
Dr. Engali's picture

Wonder what the birth death model is.

Fri, 10/07/2011 - 08:48 | 1749158 serndipity
serndipity's picture

B/D = -43K

Fri, 10/07/2011 - 08:45 | 1749135 SheepDog-One
SheepDog-One's picture

Glenn Beck tells listeners to take money out of big banks and Wall St, a 'verified attack' is coming on Wall St 'early next week'

Beck Has 'Verified ... An Attack On Wall Street Next Week' Tells Listeners To Have Cash And Food Rea - YouTube

Fri, 10/07/2011 - 09:03 | 1749208 Dreadker
Dreadker's picture

I can't watch vid links till i get home...

Financial or physical... I wouldn't be surprised if some 'protesters' start bricking and fire bombing store fronts there....  But they won't actually be protesters, they'll be inciters trying to undermine the occupy wall street movement.  Theres been a steady escalation of antagonism on the protesters by the authorities the last couple of weeks.


And then Fox and all other networks will jump on it and condone riot police waltzing in with tanks etc.  Could be a very powderkeggy week next week...  I for one, have my cash (its shiny and 'an archaic store fo wealth') and my food stored.  I've also got some of that paper crap with dollar signs on it, just in case i run out of toilet paper ;-)

And if anyone says "that won't happen in america" take a look at how they treated your WWI veterans when they wanted their bonus payment during the depression... Tanks, bayonets and swords on the 'evil communists intent on the downfall of the government'...

Fri, 10/07/2011 - 08:45 | 1749136 economists_do_i...
economists_do_it_with_models's picture

I am reading the book "1984."  Guy talks about how the gov't was off in it's projection of pairs of boots needed.  So his job was to revise the old projections to make Big Brother look good.  But he says something like, "The number doesn't matter.  Whether the projection was higher, lower, or dead-on, A LOT OF PEOPLE HAD TO GO WITHOUT THE BOOTS THEY NEEDED."

Seems very much like the current employment situation.  This "beat" is of little consolation to those without a job.

Fri, 10/07/2011 - 08:48 | 1749153 pepperspray
pepperspray's picture

Goldstein's dead. Go read another book.

Fri, 10/07/2011 - 10:12 | 1749496 marcusfenix
marcusfenix's picture

that would be Orwell idiot...

try reading A book...

Fri, 10/07/2011 - 15:21 | 1750709 sullymandias
sullymandias's picture

Goldstein is a major character in the book 1984. Try reading THAT book..

Fri, 10/07/2011 - 08:46 | 1749137 -Michelle-
-Michelle-'s picture

Can't take these seriously when you can have a "revision" from zero to 58,000.  How can they even call that a revision with a straight face?

Sometimes, I like to think that the computer overlords really have taken over and the numbers guys are just throwing out sacrifices to keep them happy...

Fri, 10/07/2011 - 11:02 | 1749677 pods
pods's picture

Yeah, when the error rate is 50% of your number you are basically just looking at just noise.

If you look at any straight line close enough, it will become very jagged.  That is what we are looking at.  


Fri, 10/07/2011 - 08:46 | 1749139 the not so migh...
the not so mighty maximiza's picture

worthless data now

Fri, 10/07/2011 - 08:46 | 1749141 barkingbill
barkingbill's picture

how does this make gold and silver go up? to and silver should go down if the economy looks like its getting better, since that would mean no double dip, no QE etc....but it works the opposite way. deflation makes gold go down and if the market goes up then gold does as well. wierd. maybe dollar connected. 

Fri, 10/07/2011 - 08:50 | 1749166 tmosley
tmosley's picture

That is what I was wondering.  Might be some short covering.

Fri, 10/07/2011 - 08:46 | 1749142 TheLooza
TheLooza's picture

so i fthe market keeps levitating up up up on air, how will berbanker ever get to print?  or is wall street going to work this just perfect so that they get to fuck both holes?

Fri, 10/07/2011 - 08:50 | 1749168 SheepDog-One
SheepDog-One's picture

Exactly, on one hand everyone expects printing to come, of course after the 'market drop', yet they keep pumping out unicorn numbers.

Wall St occupation is fishy, set up by Tides Foundation and unions and a bunch of other 'subversive' groups in my opinion....and Glenn Beck warns a major attack will happen next week.

I would be in a single stock or have money in a Wall St bank now no matter how the data is spun.

Beck Has 'Verified ... An Attack On Wall Street Next Week' Tells Listeners To Have Cash And Food Rea - YouTube

Fri, 10/07/2011 - 08:46 | 1749145 lemarche
lemarche's picture

If market fails to hold some rally with this (good but bad) news, will start looking ugly into next week for bulls.

Fri, 10/07/2011 - 08:47 | 1749147 More_sellers_th...
More_sellers_than_buyers's picture

At this point we should all just buy all in... I'm tired of fighting my brain.  Go full retard and buy buy buy because even if your right and the market crashes..this manipulated shadow of a market is going to implode so bad nothing will be worth shit...And even precious metals wont help anymore, you will be shooting your neighbor for a loaf of bread. 

Fri, 10/07/2011 - 08:53 | 1749175 sabra1
sabra1's picture

then you can have meat with your bread!

Fri, 10/07/2011 - 08:47 | 1749148 Bill Lumbergh
Bill Lumbergh's picture

I have the feeling anything and everything is being done to ensure the widely reported number does not exceed 10%.

Fri, 10/07/2011 - 08:47 | 1749150 kahunabear
kahunabear's picture

Goodbye QE. Goodbye jobs bill.

Fri, 10/07/2011 - 08:58 | 1749172 SheepDog-One
SheepDog-One's picture

Thats what it looks like to me. I think at this point theyre flailing and have no clear plan. 

Fri, 10/07/2011 - 08:48 | 1749152 nantucket
nantucket's picture

there are gonna be big deviations on each side of the "expected" number, in other breaking news, the sun rose in the east this morning.

Fri, 10/07/2011 - 08:48 | 1749154 monopoly
monopoly's picture

No news here but for interest rates, tick, tock, tick, tock.... up a little bit at a time, but is a trend forming?

Fri, 10/07/2011 - 09:01 | 1749209 topcallingtroll
topcallingtroll's picture

Until the next freak out.

Fri, 10/07/2011 - 08:49 | 1749159 cosmictrainwreck
cosmictrainwreck's picture

I will still never understand (a little help, here?) how 60K or 100K or 250K in a MONTH offsets 400K or even 200K  or even by some miracle only 100K NEW CLAIMS per WEEK. What am I missing here? Am I retarted or what?

Fri, 10/07/2011 - 08:53 | 1749179 firstdivision
firstdivision's picture

Get with the new calculus.

Fri, 10/07/2011 - 08:49 | 1749161 TradingJoe
TradingJoe's picture

I do not care about gov(faked) data, i do what the market is "telling" me and right now it tells me SELLLLLLLL SHORRRRTTTTTT!

Fri, 10/07/2011 - 09:04 | 1749229 topcallingtroll
topcallingtroll's picture

I will take the other side of your trade for now if you are talking about the market in general. If you have specific shorts in mind would you kindly list them as well as any recommended entry points?

Thank you in advance.

Fri, 10/07/2011 - 09:16 | 1749287 TradingJoe
TradingJoe's picture


Since you are ready to take the "other side", what's the point?!?!

Fri, 10/07/2011 - 08:50 | 1749167 warchopper
warchopper's picture

I love checking CNN Money right after these things come out just to see the liberal spin on the numbers. But U6 does not disappoint and is more reflective of the rebaseline employment land. Now the headline appears, "Hiring picked up." More games.

I don't understand why there is not more discussion on the fact that unemployment has rebaselined (established a new trough). 

Fri, 10/07/2011 - 08:51 | 1749169 lizzy36
lizzy36's picture

Green Shoots!!

Since April payrolls up +72k a month vs 161k prior 7 months.


Fri, 10/07/2011 - 08:53 | 1749176 SheepDog-One
SheepDog-One's picture

Green shoots when Obama is begging for huge jobs bill. Something doesnt add up here, big time.

Fri, 10/07/2011 - 09:07 | 1749240 lizzy36
lizzy36's picture

Obama is campaigning for reelection. Nothing more.

He knows that jobs bill doesn`t have a hope in hell of passing. But with unemployment at 9.1% he wants to be able to tell his `base`that it is the GOP`s fault because they wouldn`t pass his jobs bill.

He is playing the reelection game. That is all. 

Fri, 10/07/2011 - 09:09 | 1749256 SheepDog-One
SheepDog-One's picture

There will be no election, I guarantee you that.

Fri, 10/07/2011 - 09:49 | 1749417 disabledvet
disabledvet's picture

more like bong hits as i see it. i fail to see the excitement...but i like the coverage "as if it is." "government injections" are pretty boring anyways are they not?

Fri, 10/07/2011 - 13:08 | 1750121 smlaz
smlaz's picture

Government Injections.  Like the Tuskeegee Syphilis injections?

Fri, 10/07/2011 - 08:52 | 1749173 jdelano
jdelano's picture

since I don't believe in god, I'll offer a little prayer to the Tylers.  Please guys, find something today to use as an RPG against this sputtering spruce goose rally.  

Fri, 10/07/2011 - 08:53 | 1749180 vote_libertaria...
vote_libertarian_party's picture

Poor coordination between Obama and the BLS.


Can't scare Congress to pass a jobs bill if the highly adjusted jobs number comes in at BETTER THAN EXPECTED.

Fri, 10/07/2011 - 08:54 | 1749183 RobotTrader
RobotTrader's picture

Futures are flying.

Looks like another 2009 "Green Shoots" rally.

Fri, 10/07/2011 - 08:58 | 1749200 topcallingtroll
topcallingtroll's picture

You wanna retire someday?
EWZ. Dollar cost average, to hell and back if necessary, for your investable time horizon.

Diversification is for pussies.

Fri, 10/07/2011 - 09:01 | 1749212 anynonmous
anynonmous's picture

That 'fing reversal on Tuesday might have been a bit more than a simple short squeeze and wilding algos (the 2011 equiv of March 09?)

Fri, 10/07/2011 - 09:06 | 1749235 Village Smithy
Village Smithy's picture

Please no, I can't take another year year of staring at my charts in disbelief.

Fri, 10/07/2011 - 09:12 | 1749270 warchopper
warchopper's picture

Up 7 or 8 on S&P 500 E-minis is hardly "flying". 

Fri, 10/07/2011 - 08:54 | 1749184 Josh Randall
Josh Randall's picture

Sunshine, Lollipops, and Rainbows

Fri, 10/07/2011 - 09:01 | 1749207 SheepDog-One
SheepDog-One's picture

Pink unicorns jumping over sparkle rainbows, while theyre also trying to frighten everyone into doom and gloom jobs bills and stimulus. I bet this flies green for an hour, then the rug gets pulled out.

Fri, 10/07/2011 - 08:54 | 1749185 topcallingtroll
topcallingtroll's picture

Discussions of U6 bring out the troll in me.

U6 includes people who are not even looking for a job.

Fuckwads who wont look for a job, or feel they are too good to take the mcjob available, get no sympathy from me.

Mary Antoinette was too generous. The idle U6 deserve a shit sandwich and a large side order of reality

Fri, 10/07/2011 - 13:10 | 1750130 smlaz
smlaz's picture

Ah, so EVERYONE represented by U6 is lazy and deserves to eat shit sandwiches?  Nice generalization Einstein.  Go live with your pals in Moscow.

Fri, 10/07/2011 - 08:56 | 1749191 Peterpaul
Peterpaul's picture

This is such a weak number. Nearly 1/2 of the gains were the rehiring of 45,000 striking Verizon workers. How the hell is that a net addition to the workforce?

Fri, 10/07/2011 - 08:56 | 1749192 razorthin
razorthin's picture

Lol!  Well, if this is a real trend-reversal, then it is the first leg of hyperinflation.  AGQ 1,000 bichez.

Fri, 10/07/2011 - 08:57 | 1749198 Sambo
Sambo's picture

If you think markets are moving up or down based on news, you are mistaken. It is all being manipulated by 10 or 15 super rich super powerful individuals (find out what J. Rockefeller told Bill Moyers years ago). Ofcourse ..Goldman Sachs is the instrument through which this insidious group rules the world...Rastani was absolutely correct in his observation, but there is much more beyond all this. What meets the eye is only part of reality.

Fri, 10/07/2011 - 08:59 | 1749202 imapopulistnow
imapopulistnow's picture

Good numbers.  Govt shed another 35K - Professionals added 25K - rebalancing is underway.

Fri, 10/07/2011 - 08:59 | 1749204 Zgangsta
Zgangsta's picture

What is this "job" they speak of?  As if everybody has the same homogenous "job"?

I want to see the average dollar value of each "job" added and compare that with a year and five years ago before I celebrate.

Fri, 10/07/2011 - 09:03 | 1749222 SheepDog-One
SheepDog-One's picture

Im waiting for CNBC to have on a CEO who has just hired 500 or 1,000 people. Where are they? Fact is, these numbers are a complete fabrication.

Fri, 10/07/2011 - 09:02 | 1749221 lovemesomeZH
lovemesomeZH's picture

We're SAVED!!!


tell the wall street protesters to stop whinning, stop complaining, get out of your house slippers.......  

Fri, 10/07/2011 - 09:03 | 1749224 spastic_colon
spastic_colon's picture

....we finish in the green by 1-2% again, so goes europe so goes the US.....

so I guess we do not need the jobs bill, or QE, or twist anymore.  start raising interest rates the world is saved! Good luck being short right now as the election campaigning is in full swing, the repubs can't use jobs right now as a soap box, the dems are back in control....spin, spin, spin!  sit back and watch the rally......bullshit wins everytime.

Fri, 10/07/2011 - 09:11 | 1749263 SheepDog-One
SheepDog-One's picture

Yea, time to raise interest rates and abandon stimulus jobs bills, Twist, QE, ZIRP....lets see how that works. I say this has a lifespan of 1 hour.

Fri, 10/07/2011 - 09:15 | 1749282 razorthin
razorthin's picture

Actually, higher interest rates IS what is needed.  When the toilet is flushed, it is replenished with clean water.

Fri, 10/07/2011 - 09:20 | 1749297 SheepDog-One
SheepDog-One's picture

Just raise rates? When everything is required to run on 0 rates? This is all like looking at an ER patient on life support whose leg just twitched, and concluding he's ready to win the NYC marathon tomorrow.

Fri, 10/07/2011 - 09:24 | 1749314 razorthin
razorthin's picture

My point is that ZIRP IS the problem.  We need to crash this jalopy first.  Then find a solid foundation.

Fri, 10/07/2011 - 09:33 | 1749352 spastic_colon
spastic_colon's picture

you and sheep have it right....unfortunately what needs to happen and what will happen are very opposed.....any sniff of double dip and the campaign dollars are worthless, even the revisions are BS, hard to beleive that they can still get it so wrong 90 days ago....must be using commodore 64's in the gov't reporting agencies to save money.

Will be very difficult to fight the melt up into year end as this has embedded itself until the next report, ISM will now be paraded around as it moves off of near recession levels as the rest of the fix is already planned.  It will be an economic mind fck because ES will now trade off of perception......and we all know the saying about perception and reality.

Fri, 10/07/2011 - 09:26 | 1749225 spastic_colon
spastic_colon's picture

double post....sorry

Fri, 10/07/2011 - 09:07 | 1749245 anynonmous
anynonmous's picture
Did Tuesday's Bounce Mark the Stock Market's Bottom?

Fri, 10/07/2011 - 09:08 | 1749248 thunderchief
thunderchief's picture

Great News!


I Hope.


Fri, 10/07/2011 - 09:08 | 1749254 bigwavedave
bigwavedave's picture

there are no replies to any of the comments. its just a rant blog

Fri, 10/07/2011 - 09:43 | 1749383 thunderchief
thunderchief's picture


Rosie the Riveter (The one who worked at the B-24 plant at Willow Run Airport in Detroit Michigan) would not be pissing and moaning on a morning like this.  She would slam down that cup of Folgers Harsh Blend, and start pounding them rivets.  No 401k, Pension, Health care.  Just pounden them rivets.  Dusk til Dawn. 

What a bunch of wacko winnen ranting pussys on this blog.

Oohh.  Give me a mamama Minus you pussys...  It Hurts..

Fri, 10/07/2011 - 13:33 | 1750238 smlaz
smlaz's picture

Rosie didn't have to suck her boss' dick to get that job.  I'm all for war, it's the tried-and-true avatar for employment in America.  Look at WWII, all those jobs!

Fri, 10/07/2011 - 09:12 | 1749271 SheepDog-One
SheepDog-One's picture

Oh, well cant let reality get in the way of another staged futures pump! Dont worry, theyll pull the rug out in an hour. 

Fri, 10/07/2011 - 09:10 | 1749258 Dinho360
Dinho360's picture

This Verizon strike has me hung up. There were approx 45k people striking. If you add 45k to last month’s 57k gain you get 102k jobs in August. Then if you subtract the 45k from this month you get 58k. So adjusting for Verizon, I see this month as worse than last month.

Fri, 10/07/2011 - 09:11 | 1749265 zorba THE GREEK
zorba THE GREEK's picture

And if it's an election year, the price of gasoline will magically fall too.

Fri, 10/07/2011 - 09:12 | 1749267 papaswamp
papaswamp's picture

Participation rate declined -0.1%. Size of civilian laborforce contracted by 322,000. This was a net loss not gain. Birth/death model must have added massive numbers.

Fri, 10/07/2011 - 09:14 | 1749277 SheepDog-One
SheepDog-One's picture

Right them newborn kids today will save us! Put em to work making Apache helicopters.

Fri, 10/07/2011 - 09:16 | 1749276 Kina
Kina's picture

Of course nobody takes seriously any data that eminates from the USA. Its reputation for dishonesty on reporting data now equals that of North Korea.

All markets are now simply a smoke, mirrors and manipulation game, busted. There is no price discovery, just the Fed and TPTB. Bernanke and Timah have managed to totally destroy the credibility of all things to do with the USA not to mention obliterate the middle class and prepare USA for a long period of intercene strife.


Only one thing can reset the USA, remove all the corrupt politicians, banks, banksters, regulators, judiciary and so forth and that is a military coup. That wont happen of course....unless the banksters make a habit of paying off all police forces to bash and 'accidentally' kill protesters across the country. Congressmen being owned by banks will of course do nothing except support such things.


The USA is treading unknown paths where everything thought entirely impossible and total fantasy can within an instant become fact.


Black swans and butterflies will determine the future of the US and Europe.

Fri, 10/07/2011 - 09:20 | 1749296 papaswamp
papaswamp's picture

Looking at NSA size of laborforce vs SA size of labor force....season adjustments added 500,000. This is a huge adjustment.

Fri, 10/07/2011 - 09:22 | 1749305 SheepDog-One
SheepDog-One's picture

OK so theyre suddenly off the 'We'll need huge stimulus and money printing at any minute' to now all is well? Why is that? 

Fri, 10/07/2011 - 09:22 | 1749311 sabra1
sabra1's picture

actually these elite bastards create a crises, then move in with a solution! the solution coming will seem like a miracle, but alas, it it's all an illusion to screw us double!

Fri, 10/07/2011 - 09:23 | 1749313 RickyBobby
RickyBobby's picture

Texas construction is doing fine if you are in the mega mansion or apartment biz. As bad as the macros are, I hired five new people this week. I've never seen so many +15K sq ft homes going up.

Fri, 10/07/2011 - 09:31 | 1749343 jdelano
jdelano's picture

take a look at any 3 month equity chart.  Don't you get the game yet?  Next week we go right back, deeper into the toilet.   

Fri, 10/07/2011 - 09:59 | 1749454 jdelano
jdelano's picture

Really?  East coast is totally dead.  South Florida gone from rotting corpse to bleached bones and soon, dust.  No Wall Street bonuses = no buyers/builders from Jacksonville to Miami.  Was down there a few weeks ago to look at a Toll Brothers development on the intercoastal in Jupiter--jackasses must have spent a 50 mil in shoring alone to sell a few middle market 700k-1.5 mil houses.  The cranes are still running but I guarantee you that development is going precisely effing nowhere.  Dodd Frank gonna hand their asses to them.  No relief anywhere but rentals.  I sure hope you're frontloading the shit out of those mansion jobs cause I think the party's just about over....  

Fri, 10/07/2011 - 09:47 | 1749409 LookingWithAmazement
LookingWithAmazement's picture

So much for the recession? Indeed. No Armageddon in sight; companies even hire more. Told-you-so.

Fri, 10/07/2011 - 10:23 | 1749533 adr
adr's picture

Do you even have a job? Do you even know what a job is or what actual work entails?

I know of quite a few jobs that were created in September, all near minimum wage. A woman that a few months ago made $50k who now puts candles on a shelf at a mall store for $9 an hour and gets 20hrs a week.

But no that is all good news right? The economy will be saved on the backs of minimum wage workers. Get a brain, they come in handy.

Fri, 10/07/2011 - 11:46 | 1749812 Sandy15
Sandy15's picture

Wake up dude........  the numbers are fake!!  No extended jobs here.  The morons marching on Wall ST are getting paid with your tax dollars called Stimulus.  One organizer for the Working Families party just admitted on video that some of the people are getting paid!!!!

Fri, 10/07/2011 - 09:51 | 1749425 disabledvet
disabledvet's picture

if the protesters actually blow up Wall Street i bet you'll see jobs galore!

Fri, 10/07/2011 - 10:07 | 1749475 Fips_OnTheSpot
Fips_OnTheSpot's picture

DAX lifted a 100pt on this "good news" -- just to give it away _completly_ within 1.5hrs.

Muppets Show. Totally.

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