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US Added 115,000 Jobs In April, Huge Miss Of Expectations; Unemployment Rate 8.1%

Tyler Durden's picture


Expectations were for an increase in non farm payrolls of 160,000, and a 8.2% unemployment rate. We got +115,000, and 130,000 privates. Unemployment rate at 8.1%, lowest since January 2009. Schrodinger is alive and well.

From the release:

Both the number of unemployed persons (12.5 million) and the unemployment rate (8.1 percent) changed little in April. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.5 percent), adult women (7.4 percent), teenagers (24.9 percent), whites (7.4 percent), and Hispanics (10.3 percent) showed little or no change in April, while the rate for blacks (13.0 percent) declined over the month. The jobless rate for Asians was 5.2 percent in April (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.1 million in April. These individuals made up 41.3 percent of the unemployed. Over the year, the number of long-term unemployed has fallen by 759,000. (See table A-12.)

The civilian labor force participation rate declined in April to 63.6 percent, while the employment-population ratio, at 58.4 percent, changed little. (See table A-1.)


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Fri, 05/04/2012 - 08:33 | 2396211 lizzy36
lizzy36's picture

It was leaked a couple of seconds b/f it actually hit the tape.

Fri, 05/04/2012 - 08:33 | 2396219 Shocker
Shocker's picture

New Month, same stuff. Numbers are down but better all around. Just look around your area, the job situation is still very tough by all means


Fri, 05/04/2012 - 08:35 | 2396227 GetZeeGold
GetZeeGold's picture



Missed it by jiiiiiiiist that much.


Fri, 05/04/2012 - 08:38 | 2396243 MillionDollarBonus_
MillionDollarBonus_'s picture

NFP is not that important. There are plenty of other indicators showing strong growth and green shoots in the economy. The market is overreacting.

Fri, 05/04/2012 - 08:41 | 2396260 hangemhigh77
hangemhigh77's picture smoked enuf dope for today.

Fri, 05/04/2012 - 08:41 | 2396266 LULZBank
LULZBank's picture

Forcebook IPO, you mean?

Fri, 05/04/2012 - 08:44 | 2396279 GetZeeGold
GetZeeGold's picture



I stand in the presence of brilliance!


Fri, 05/04/2012 - 08:50 | 2396323 NewWorldOrange
NewWorldOrange's picture

"There are plenty of other indicators showing strong growth and green shoots in the economy."

There are plenty of indicators showing strong growth in the quanity of greenbacks in the economy.

There. Fixed it.

Fri, 05/04/2012 - 08:55 | 2396355 Peter Pan
Peter Pan's picture

I will believe in green shoots when they start sprouting without the use of massive borrowings and massive deficits. Until then all green shoots are noxious weeds.

Fri, 05/04/2012 - 11:52 | 2397122 Madrid2020
Madrid2020's picture

Posted by Donna Brazile!

Sat, 05/05/2012 - 11:49 | 2399334 MeelionDollerBogus
MeelionDollerBogus's picture

Right, nothing's less important about jobs off the farm than actual payroll accounts of actual jobs actually off the farm.

Market be tankin'

Good job on anyone with VXX calls and SPY puts. Still wisdom in hedging that in a strangle but hey, it's your money.

Oh, and how do you like them AAPL's for "support", MDB? Ya... :D

Fri, 05/04/2012 - 09:54 | 2396680 Randall Cabot
Randall Cabot's picture

Job’s report a bummer for bulls hoping for QE3: Ryding


May 4, 2012, 9:45 AM

John Ryding and Conrad DeQuadros say Friday’s jobs report won’t be enough to inspire another round of quantitative easing from the Fed.

"Despite the perception that payrolls appear to be slowing because of the initial print, the three-month change in nonfarm payrolls is modestly ahead of the 12-month change. Each of the last four payroll reports have revised the previously reported gain in private employment higher by an average of 45,000 per month…In short, through the volatility, the job market continues to expand and slack in the labor market continues to be reduced at a gradual pace. There is nothing here to persuade the Fed that it should be looking at the need for further stimulus."


-Tom Bemis


Fri, 05/04/2012 - 08:36 | 2396233 WonderDawg
WonderDawg's picture

I'm thinking this should be good for the bears. Not bad enough to ramp up QE expectations, but not good enough for an organic jump in the markets.

8.1%? That's some funny shit right there. Does anyone besides the CNBC propoganda monkeys believe that shit?

Fri, 05/04/2012 - 08:36 | 2396229 Gully Foyle
Gully Foyle's picture

Why is no one counting the amount of drug dealers and hookers added?

Both are service industry jobs and look to be growth industries in the new US economy.

Fri, 05/04/2012 - 08:41 | 2396264 hangemhigh77
hangemhigh77's picture

those are govt jobs.

Fri, 05/04/2012 - 08:42 | 2396275 GetZeeGold
GetZeeGold's picture



I think they get unionized next week.


Fri, 05/04/2012 - 08:48 | 2396310 CrimsonAvenger
CrimsonAvenger's picture

In Amerika, the hookers screw you.

Fri, 05/04/2012 - 08:39 | 2396252 Gully Foyle
Gully Foyle's picture

In light of the following study, one has to wonder if bonding with ZH ruins men for "real" economics


Does Men’s ‘Bond’ with Porn Ruin Them for Real-Life Sex?
Fri, 05/04/2012 - 08:33 | 2396213 fathero123
fathero123's picture

Obama 2012


Fri, 05/04/2012 - 08:36 | 2396234 Gully Foyle
Gully Foyle's picture



Fri, 05/04/2012 - 08:41 | 2396256 GetZeeGold
GetZeeGold's picture





Fu*k yeah comrades!


Fri, 05/04/2012 - 08:38 | 2396248 EscapeKey
EscapeKey's picture


Fri, 05/04/2012 - 08:38 | 2396250 GetZeeGold
GetZeeGold's picture





Fri, 05/04/2012 - 08:41 | 2396267 Dead Canary
Dead Canary's picture

Hey fathereo123. No fair voting for yurself!

Fri, 05/04/2012 - 08:48 | 2396304 homersimpson
homersimpson's picture

Barack on Crack 2012!

Fri, 05/04/2012 - 09:34 | 2396573 GetZeeGold
GetZeeGold's picture



If we hurry I think we can make it back to the printers before they close.


Fri, 05/04/2012 - 08:51 | 2396333 Peter Pan
Peter Pan's picture

It could be Obama 2012, 2013, 2014, 2015.......if a state of emergency is declared. Why else would you pass all those laws, buy all those bullets and build that survillance centre if everything is normal?

Fri, 05/04/2012 - 08:34 | 2396214 Let The Wurlitz...
Let The Wurlitzer Play's picture

I'm sure the Washington "bandar log" will be cellebrating the 8.1% unemployment number.


Fri, 05/04/2012 - 08:42 | 2396272 financial apoca...
financial apocalyptic contagion's picture

Bandar log?? who taught you that

Fri, 05/04/2012 - 08:34 | 2396215 PrintingPress
PrintingPress's picture


Fri, 05/04/2012 - 08:34 | 2396216 LawsofPhysics
LawsofPhysics's picture

And now for the MSM spin.  Long black markets, private securty teams, and ink. Red that is.  Russia is the new America and visa versa.  Now let me think, what happened to the ruble in the 90's again?

Fri, 05/04/2012 - 08:34 | 2396217 Stoploss
Stoploss's picture

UE rate shrinking along with labor participation, and tax rev's.


Excellent job.

Fri, 05/04/2012 - 08:33 | 2396218 Cassandra Syndrome
Cassandra Syndrome's picture

Gold Spiked over $5 seconds before the leak

Fri, 05/04/2012 - 08:33 | 2396220 Zero Debt
Zero Debt's picture

Clearly Ben is not printing fast enough

Fri, 05/04/2012 - 08:34 | 2396221 RoadKill
RoadKill's picture

I was looking for +100k or less. But Ill take it.

Fri, 05/04/2012 - 08:34 | 2396222 insanelysane
insanelysane's picture

CNBC tool just said this is exactly the number we were expecting.  WTF???  115 when they were saying 160 all fucking morning.

Fri, 05/04/2012 - 09:30 | 2396470 grunk
grunk's picture

I just went to the CNBC website. In the upper right-hand corner was a video of Art Cahin talking to Pisani yesterday. Cashin said his greatest fear is a jobs report of 100,000 to 120,000 and an unemployment rate drop.

Cashin knows his stuff.

Fri, 05/04/2012 - 10:30 | 2396840 TeMpTeK
TeMpTeK's picture

Would love to see a Cashin followup....But im sure CNBS is in the process of
removing this gem

Fri, 05/04/2012 - 08:35 | 2396223 DavidJ
DavidJ's picture

Avg Earnings + 1 penny!!!  WINNING!!

Fri, 05/04/2012 - 08:34 | 2396225 Corn1945
Corn1945's picture

Looks like they are still playing games with the labor force participation rate to get the UE % down.

Fri, 05/04/2012 - 08:35 | 2396226 hangemhigh77
hangemhigh77's picture

leaked? No way. That would be illegal.  You know that WS never breaks the law.

Fri, 05/04/2012 - 08:35 | 2396228 mspgrandi
mspgrandi's picture


Bad NUMBER = S&P up as QE700 comes in


Very bad NUMBER = S&P And DOLLAR to rally.

Fri, 05/04/2012 - 08:36 | 2396230 CryingBear
CryingBear's picture

short cover bitches

Fri, 05/04/2012 - 08:35 | 2396231 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Euro went mental 40seconds early

Fri, 05/04/2012 - 08:39 | 2396232 lizzy36
lizzy36's picture

Household survey was brutal -324k on participation rate.

Labor force participation at 63.3% lowest since 1981.

Fri, 05/04/2012 - 08:41 | 2396268 GeneMarchbanks
GeneMarchbanks's picture

Damn Paul Krugman is an unparalleled genius. We must listen to him before it is too late.

Fri, 05/04/2012 - 09:26 | 2396528 Dapper Dan
Dapper Dan's picture


Therein lies the problem, some have listened to Paul and now it’s too late!


Can you think of any problem in any area of human endeavor on any scale, from microscopic to global, whose long-term solution is in any demonstrable way aided, assisted, or advanced by further increases in population, locally, nationally, or globally?

- Dr. Albert A. Bartlett, Emeritus Professor of Physics, University of Colorado; World Population Balance Board of Advisors



Fri, 05/04/2012 - 11:20 | 2397020 earnyermoney
earnyermoney's picture

I have a question Dr. Bartlett. Could you lead by example?

Fri, 05/04/2012 - 08:36 | 2396235 dick cheneys ghost
dick cheneys ghost's picture

Food Stamp usage will go down now?????  LMFAO

Fri, 05/04/2012 - 08:37 | 2396236 LoneStarHog
LoneStarHog's picture

Birth/Death = PLUS 206,000 !?!?!?!?! WTF!

Fri, 05/04/2012 - 09:02 | 2396288 GetZeeGold
GetZeeGold's picture



Dammit's math.


Fri, 05/04/2012 - 08:36 | 2396237 Cursive
Cursive's picture

These are definetly "quality" jobs, no doubt.

Fri, 05/04/2012 - 08:37 | 2396238 hangemhigh77
hangemhigh77's picture

This number is exactly what I was expecting. I expected anywhere from 0 to 0.  I think my prediction is much more accurate.  It's fine with me I hope they rally this sham market so I can fade this rally.  i don't thiunk anyone is going to want to be long this market over the weekend.

Fri, 05/04/2012 - 08:37 | 2396239 tmosley
tmosley's picture

This time next year:  The US economy generated -150,000 new jobs this month, bringing the unemployment rate to -7.8%.

Fri, 05/04/2012 - 08:38 | 2396240 Comay Mierda
Comay Mierda's picture

the vampire squid is waiting for more shorts to pile up in this market then they will leak another QE rumor and squeeze the turds out of everyone

Fri, 05/04/2012 - 08:39 | 2396255 LULZBank
LULZBank's picture

Could'nt be better for the constipated investors!

Fri, 05/04/2012 - 08:43 | 2396277 trampstamp
trampstamp's picture

Well looks like i'll be on the side lines for a long time even though the indices go to all new highs. At least I'll have what i have and not play in to this ponzi anymore until we get back to reality. Totally agree bud, seems they wait for shorts to pile in and then squeeze the shit out of them to spike the market.

Fri, 05/04/2012 - 08:38 | 2396241 MountainMan
MountainMan's picture

Market will close at week high.

Fri, 05/04/2012 - 08:40 | 2396244 TideFighter
TideFighter's picture

Long maternity wards and graveyards, Bitchez!

Fri, 05/04/2012 - 08:39 | 2396245 westboundnup
westboundnup's picture

Get the unemployment rate below 8% is the prime directive of the Obama Administration.

Fri, 05/04/2012 - 08:49 | 2396311 azzhatter
azzhatter's picture

I believe it was 7.8% on the day he was sworn in. Mark it- it will be lower by November

Fri, 05/04/2012 - 08:38 | 2396246 LULZBank
LULZBank's picture

These numbers have to be better than expected. Gold and Silver just shot up.

Fri, 05/04/2012 - 08:39 | 2396247 The Swedish Chef
The Swedish Chef's picture

I´d really like to have a look in to the metrics used when they come up with the expected numbers. I´m guessing tea leaves and goat innards. 

Fri, 05/04/2012 - 09:39 | 2396600 Winston Churchill
Winston Churchill's picture

Nothing that advanced.

Dartboard with blindfold.

Fri, 05/04/2012 - 08:38 | 2396249 SDRII
SDRII's picture

b/d adj +206K!

Fri, 05/04/2012 - 08:39 | 2396251 Ted Baker
Ted Baker's picture


Fri, 05/04/2012 - 09:01 | 2396254 youngman
youngman's picture

They guy on Bloomberg said wait for the

Yes this is good news  for the talking heads...its all good news to back to Facebook all day long all week long all month long....

Fri, 05/04/2012 - 08:39 | 2396257 insanelysane
insanelysane's picture

Santilli had his fill of BS and is freaking out.  10 guys against 1.  Santilli knows people are idiots and will buy into the 8.1% and it will be 6.x% by November and the idiots will all be loving it.

Fri, 05/04/2012 - 10:07 | 2396735 GetZeeGold
GetZeeGold's picture



That's not fair.....they need to go get more guys.


Fri, 05/04/2012 - 08:40 | 2396258 scatterbrains
scatterbrains's picture

luv the pop to the upside. This is a gauge of how much everyone from joe40oz. on up to the top of the TBTF are confident benny will step in a keep the ponzi rigged for them.  Openly rigged markets are great for confidence. 

Fri, 05/04/2012 - 08:40 | 2396262 ultimate warrior
ultimate warrior's picture

I soooo want Steve Liesman to get hit by a fucking bus. What a shithead.

Fri, 05/04/2012 - 08:45 | 2396284 hangemhigh77
hangemhigh77's picture

Imagine the amount of shit on the bus if that happened.

Fri, 05/04/2012 - 08:47 | 2396301 azzhatter
azzhatter's picture

he certainly is high on my death wish list. What a fucktard

Fri, 05/04/2012 - 08:49 | 2396307 hangemhigh77
hangemhigh77's picture

Imagine the amount of shit on the bus if that happened.

Fri, 05/04/2012 - 08:41 | 2396263 marcusfenix
marcusfenix's picture

going's the new progress.


Fri, 05/04/2012 - 08:43 | 2396274 Coffin Dodger
Coffin Dodger's picture

We find ourselves governed by hopelessly old-fashioned and completely out of touch people.

They still haven't realised that hegemony is over.

Since 2008, it has been shown to all that financiers can break every law designed to control them and get away with it without ANY form of punishment. The old rule of law is breaking down.

Will someone I can trust and admire please step forward? Someone new and different?

Fri, 05/04/2012 - 08:57 | 2396368 Dr. Engali
Dr. Engali's picture

It's all being done by design so that the American people lose confidence in every institution we have. They know full well what they are doing and what the American people see. It's all done to bring this country to it's knees and usher in the new orld order.

Fri, 05/04/2012 - 08:53 | 2396278 Dr. Engali
Dr. Engali's picture

8.1% my ass! How many people dropped out of the work force this time? What's the birth death model? Any lie to get the number under 8 before election day. What a crock!

Fri, 05/04/2012 - 08:45 | 2396293 azzhatter
azzhatter's picture

No mystery here, the UE rate is most important in their focus groups. They will bring this number down prior to Nov every month. At this point if we had a negative 500K print the UE rate would drop. Goebbels at work

Fri, 05/04/2012 - 08:49 | 2396309 sabra1
sabra1's picture

being re-educated to learn a trade is considered employment, right?


Fri, 05/04/2012 - 08:49 | 2396312 resaci
resaci's picture

Make Obama part of the 8.1%

Fri, 05/04/2012 - 08:56 | 2396357 TonyCoitus
TonyCoitus's picture

Nurse, prepare the Hopium!

Fri, 05/04/2012 - 09:16 | 2396461 BLACK_DOG
BLACK_DOG's picture

They just engaged the spin cycle.

Fri, 05/04/2012 - 09:22 | 2396477 TWSceptic
TWSceptic's picture

Any statistics brought out by government during election year basically has to be regarded as propaganda.

Fri, 05/04/2012 - 09:43 | 2396625 Snakeeyes
Snakeeyes's picture

Our European Jobs Recovery:

Seriously, will the media crow about 8.1% unemployment rate with 88.5 milllion NOT in the labor force? And rising?

Fri, 05/04/2012 - 10:01 | 2396707 sessinpo
sessinpo's picture

No surprise at all as was posted 2390950 .

And you think ADP and the BLS stats are bad?'s employment index is even further out of whack. While ADP and BLS have been indicating weak employment growth that we all knew was really dismal employment growth, monster has had continued fairly robust growth until the latest report for April in which they are essentially flat, not even weak!

Monster Employment Index U.S. Remains Relatively Unchanged on Annual Basis

New York, May 4, 2012

April 2012 Index Highlights:

  • Monster Employment Index U.S. holds relatively steady with prior-year level, growing one percent year-over-year
  • Index rises two percent month-over-month, a more modest pace than usually recorded at this time of the year
  • Transportation and warehousing continues to outpace all industries, while retail trade weakens, now recording single-digit annual growth at six percent
  • Arts, entertainment, and recreation, educational services, utilities, and public administration decline on annual basis
  • All metro markets tracked by the Index continue to exhibit positive annual growth

Compare that to February 2011 where monster stated:

Monster Employment Index Rises in February from January; Year-Over-Year Growth Continues to Remain Positive

February 2011 Index Highlights:

  • Annual growth rate eases to 4 percent, yet remains above year-earlier levels while Index rises 7 points (6 percent) month-over-month
  • All 28 metro markets record positive annual growth in February
  • Positive consumer-spending trends generate uptick in retail sector
  • Public administration weighs down overall Index; sector's annual declines slide to 25 percent, reaching a new low in the Index
Fri, 05/04/2012 - 11:49 | 2397112 macktheknife
macktheknife's picture

Tyler:       As far as I can tell, ZH has started this idea of the economy being like Schrodinger's Cat - and you keep this idea alive by almost daily references.   It is a neat application of Schrodinger's idea.    I stumbled across an interesting article on popurls this morning - that talks some about what Schrodinger was thinking, and I think you will like it - as well as any ZH readers who are amused by this application of Schrodinger's Cat:

Fri, 05/04/2012 - 11:50 | 2397115 EmmittFitzhume
EmmittFitzhume's picture

U-3 is only to keep the Retail Investor's 401K in the market.

Fri, 05/04/2012 - 12:02 | 2397168 sschu
sschu's picture

The labor market is very skittish in Seattle.  We cannot find good/qualified/drugless/sketonless reliable folks, but the UE is over 8%.  Go figure.

The perverse incentives and lack of holding people accountable for aberant behavior has made millions of people essentially unemployable.  500K dropping out of the workforce is probably light.  So the UE rate is lower, but the number of people actually working and producing has declined for sure.  Not a real path to prosperity.



Sat, 05/05/2012 - 11:52 | 2399338 MeelionDollerBogus
MeelionDollerBogus's picture

Maybe it's the cost of living. When the cost of living is too high, the wages are too low, people who are stuck out of home/work will turn to drugs to eat less and ignore the nightmare that is their life, thereby leaving a vicious cycle of feedback.

Do companies on average in Seattle actually pay enough to afford cost of living? If not then expect the current problem to consume Seattle forever.

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