US economy creates 18,000 jobs in June, much lower than expected (ticker only)

MSNBC ^ | 7/8/2011 | msnbc

[tobyhill]

BREAKING NEWS: US economy creates 18,000 jobs in June, much lower than expected

[ShadowAce]

I thought I heard 157,000 a few days ago.

[ilovesarah2012]

I just heard unemployment rate is now 9.2. Hope and Change.

[Jemian]

much lower than expected = unexpectedly! Again!

[101voodoo]

The Bureau of Labor has the nerve to report this as “essentially unchanged” from last month?\.

Talk about out of touch!

[apillar]

Wow! If MSNBC actually admits it's must lower than expected it must really be bad. Usually they phrase it something like, “The economy created only 18,000 jobs, but since Obama is president these are not normal jobs, they are super jobs, equal to about 500,000 normal jobs.”

[tobyhill]

That’s the numbers from a payroll company.

[Wyatt's Torch]

U6 (the real unemployment rate) surges from 15.8% to 16.2%

[wbill]

Yeah, they were touting 150K+ on the news this morning.

This will be "unexpected", except to FReepers. Mostly Freepers who've noticed that UE claims have been way up over the past few weeks. Dunno how companies can be laying off more people than usual, and "experts" think that employment will be up.

I'll go waaaaaay out on a limb and say that the market will be down a bunch today.

[magellan]

Real estate is still the problem. Ordinarily, summer construction jobs offset temporary layoffs in the manufacturing sector due to plant retooling.

We are in a depression, not a recession.

[Wyatt's Torch]

The lowest estimate on Wall Street was 60,000. So 18,000 is a several standard deviations away from the consensus.

[tobyhill]

Wow!

[mkmensinger]

We are in serious need of a new group of expectors.

[ScottinVA]

UNEXPECTEDLY!!!!!

Drink!

[cripplecreek]

Love that LSDNBC spin. Unemployment rises and they call it lower than expected hiring.

[NeoCaveman]

And the birth/death ratio adjustment is probably +50,000.

If I had to guess.

[ScottinVA]

Spin that one, MSM!

[wbill]

And, interestingly, Yahoo Finance has this headline.

However, the link it's attached to is touting that "Jobs creation WILL BE MORE than expected" "Everything is coming up roses" etc etc etc.

Obviously a mistake, but a really interesting one, no?

[mewzilla]

The lowest estimate on Wall Street was 60,000.

How are they coming up those numbers? Chicken entrails?

[Wyatt's Torch]

My “morning note” from BofA/Merrill Lynch said:

- U.S. Payrolls Probably Picked Up in June
- Non-farm payrolls est 100K; private payrolls est 125K

Morning note from the NYSE:

- On the economic calendar today, the government will release its monthly jobs report before the market opens. Economists are expecting employers to have added 150,000 jobs in June, after adding 54,000 jobs in May. The unemployment rate is expected to dip to 9.0%, from 9.1% in May

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