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US Added 115,000 Jobs In April, Huge Miss Of Expectations; Unemployment Rate 8.1%
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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It was leaked a couple of seconds b/f it actually hit the tape.
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
http://www.dailyjobcuts.com
.
Missed it by jiiiiiiiist that much.
NFP is not that important. There are plenty of other indicators showing strong growth and green shoots in the economy. The market is overreacting.
you.ve smoked enuf dope for today.
Forcebook IPO, you mean?
I stand in the presence of brilliance!
"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.
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.
Posted by Donna Brazile!
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
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."
Bummer!
-Tom Bemis
http://blogs.marketwatch.com/thetell/2012/05/04/jobs-report-a-bummer-for-bulls-hoping-for-qe3-ryding/
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?
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.
those are govt jobs.
I think they get unionized next week.
In Amerika, the hookers screw you.
In light of the following study, one has to wonder if bonding with ZH ruins men for "real" economics
http://zen-haven.dk/does-mens-bond-with-porn-ruin-them-for-real-life-sex/
Does Men’s ‘Bond’ with Porn Ruin Them for Real-Life Sex?Obama 2012
fathero123
Forward!
Forward!
Fu*k yeah comrades!
%WALL_ST_PUPPET% 2012!
USSR USSR USSR!!!
Hey fathereo123. No fair voting for yurself!
Barack on Crack 2012!
If we hurry I think we can make it back to the printers before they close.
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?
I'm sure the Washington "bandar log" will be cellebrating the 8.1% unemployment number.
Bandar log?? who taught you that
Derp!
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?
UE rate shrinking along with labor participation, and tax rev's.
Excellent job.
Gold Spiked over $5 seconds before the leak
Clearly Ben is not printing fast enough
I was looking for +100k or less. But Ill take it.
CNBC tool just said this is exactly the number we were expecting. WTF??? 115 when they were saying 160 all fucking morning.
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.
http://video.cnbc.com/gallery/?video=3000087932
Would love to see a Cashin followup....But im sure CNBS is in the process of
removing this gem
Avg Earnings + 1 penny!!! WINNING!!
Looks like they are still playing games with the labor force participation rate to get the UE % down.
leaked? No way. That would be illegal. You know that WS never breaks the law.
GOOD NUMBER = S&P up
Bad NUMBER = S&P up as QE700 comes in
Very bad NUMBER = S&P And DOLLAR to rally.
short cover bitches
Euro went mental 40seconds early
Household survey was brutal -324k on participation rate.
Labor force participation at 63.3% lowest since 1981.
Damn Paul Krugman is an unparalleled genius. We must listen to him before it is too late.
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
I have a question Dr. Bartlett. Could you lead by example?
Food Stamp usage will go down now????? LMFAO
Birth/Death = PLUS 206,000 !?!?!?!?! WTF!
Dammit Jim.....it's math.
These are definetly "quality" jobs, no doubt.
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.
This time next year: The US economy generated -150,000 new jobs this month, bringing the unemployment rate to -7.8%.
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
Could'nt be better for the constipated investors!
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.
Market will close at week high.
Long maternity wards and graveyards, Bitchez!
Get the unemployment rate below 8% is the prime directive of the Obama Administration.
I believe it was 7.8% on the day he was sworn in. Mark it- it will be lower by November
These numbers have to be better than expected. Gold and Silver just shot up.
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.
Nothing that advanced.
Dartboard with blindfold.
b/d adj +206K!
GIVEN THAT THE 90 CONFIDENCE INTERVAL FOR NON-FARM PAYROLL IS +/- 100,000 AFTER THE REVISION SAY 2 MONTHS THE NUMBER OF JOBS ADDED WAS IN FACT ONLY 15K AS THE ECONOMY IS STILL IN A RECESSION MODE..WAIT FOR THOSE REVISIONS NEXT MONTH AND SO TO THE DOWNSIDE....
They guy on Bloomberg said wait for the revisions....lol
Yes this is good news for the talking heads...its all good news to them...now back to Facebook all day long all week long all month long....
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.
That's not fair.....they need to go get more guys.
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.
I soooo want Steve Liesman to get hit by a fucking bus. What a shithead.
Imagine the amount of shit on the bus if that happened.
he certainly is high on my death wish list. What a fucktard
Imagine the amount of shit on the bus if that happened.
going nowhere...it's the new progress.
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?
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.
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!
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
being re-educated to learn a trade is considered employment, right?
http://www.infowars.com/yes-the-re-education-camp-manual-does-apply-domestically-to-u-s-citizens/
Make Obama part of the 8.1%
Nurse, prepare the Hopium!
They just engaged the spin cycle.
Any statistics brought out by government during election year basically has to be regarded as propaganda.
Our European Jobs Recovery: http://confoundedinterest.wordpress.com/2012/05/04/a-very-european-jobs-recovery-u-s-labor-force-participation-falls-to-63-6-88-4m-not-in-labor-force-teenage-unemployment-rises-to-22-8/
Seriously, will the media crow about 8.1% unemployment rate with 88.5 milllion NOT in the labor force? And rising?
No surprise at all as was posted 2390950 .
And you think ADP and the BLS stats are bad? Monster.com'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:
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:
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:
http://discovermagazine.com/2009/sep/06-discover-interview-roger-penrose...
U-3 is only to keep the Retail Investor's 401K in the market.
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.
sschu
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.