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Payrolls Plunge To 88K, Biggest Miss Since December 2009, Participation Rate At New 30 Year Low
Zero Hedge ^

Posted on 04/05/2013 5:36:53 AM PDT by Perdogg

So much for "open-ended QE driven recovery". Moments ago the March Non-farm payroll hit and it was a doozy, printing at 88K, below the lowest forecast of 100K, well below the expected number of 190K, and a tragedy compared to the February revised print of 268K (was 236K). This was the biggest miss to expectations since December 2009 and the worst print since June 2012. The unemployment rate declined to 7.6%, but this was due entirely to the collapse in the labor force participation rate, which declined by 20 bps to 63.3%, a new 30 year low.

And now the time to come up with excuses is here.


TOPICS: Breaking News
KEYWORDS: economy; jobs; payroll; unemployment

1 posted on 04/05/2013 5:36:53 AM PDT by Perdogg
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To: Perdogg

Here were the estimates

•Deutsche Bank 160K
•HSBC 174K
•Goldman Sachs 175K
•Citi 175K
•Barclays Capital 175K
•UBS 190K
•Bank of America 200K
•JP Morgan 210K


2 posted on 04/05/2013 5:38:18 AM PDT by Perdogg (Sen Ted Cruz, Sen Mike Lee, and Sen Rand Paul are my adoptive Senators)
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To: Perdogg

Kiosks, Tsunami......


3 posted on 04/05/2013 5:39:09 AM PDT by stevecmd
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To: Perdogg
The unemployment rate declined to 7.6%

All the rest is mere chatter.

4 posted on 04/05/2013 5:39:32 AM PDT by ClearCase_guy (The ballot box is a sham. Nothing will change until after the war.)
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To: ClearCase_guy

Well, people stopped learning fractions a long time ago.

As the denominator declines, it affects the end result.

We are so screwed.


5 posted on 04/05/2013 5:43:08 AM PDT by Vermont Lt (Does anybody really know what time it is? Does anybody really care?)
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To: Perdogg

It is all just smoke and mirrors-


6 posted on 04/05/2013 5:50:12 AM PDT by seeker41 (On our way to hell in a handbasket)
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To: Perdogg
Here's a pertinent quote from a thread yesterday:

"America now has more people voting for a living than people working for a living."

7 posted on 04/05/2013 5:53:01 AM PDT by Senator_Blutarski
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To: Perdogg

Expect a Petraeus-like scandal to ‘Occupy’ the headlines in 3 . . . 2 . . . 1 . . .


8 posted on 04/05/2013 5:54:10 AM PDT by Chad N. Freud (FR is the modern equivalent of the Committees of Correspondence. Let other analogies arise.)
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To: Perdogg

This is total BS spin reporting ! This was the biggest miss to expectations since December 2009 and the worst print since June 2012. The unemployment rate declined to 7.6%, but this was due entirely to the collapse in the labor force participation rate, which declined by 20 bps to 63.3%, a new 30 year low.


9 posted on 04/05/2013 6:01:05 AM PDT by TexasFreeper2009 (Obama lied .. the economy died.)
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To: Perdogg
below the lowest forecast of 100K, well below the expected number of 190K, and a tragedy compared to the February revised print of 268K (was 236K). This was the biggest miss to expectations since December 2009

That was unexpected.

10 posted on 04/05/2013 6:06:09 AM PDT by Pollster1 (A war can only be just if it is fought with a reasonable chance of success.)
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To: TexasFreeper2009

Totally agree. Unfortunately nothing in this country will ever change as long as people’s bellys are full. The day the hunger pang twitch will be the day anybody takes action.


11 posted on 04/05/2013 6:09:53 AM PDT by Obadiah (High speed, low drag.)
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To: Senator_Blutarski
"America now has more people voting for a living than people working for a living."

Sadly true. Best quote I've heard this week:

"The people working for the Federal Government don't realize they are on welfare and the people on welfare think it's a job."

12 posted on 04/05/2013 6:15:35 AM PDT by andy58-in-nh (Cogito, ergo armatum sum.)
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To: Perdogg

88K a small fraction of which could be considered quality decent paying jobs with limited benefits.

Except for a large portion of high paying, maximum benefits, no work, non-productive gov’t jobs.


13 posted on 04/05/2013 6:16:55 AM PDT by PoloSec ( Believe the Gospel: how that Christ died for our sins, was buried and rose again)
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To: Chad N. Freud

Uuuuuhhh...Check the General in Africa...just saying...


14 posted on 04/05/2013 6:26:46 AM PDT by jennings2004 (California's AG = "eye candy" for dear leader - MO will love that)
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To: Chad N. Freud

Uuuuuhhh...Check the General in Africa...just saying...


15 posted on 04/05/2013 6:26:47 AM PDT by jennings2004 (California's AG = "eye candy" for dear leader - MO will love that)
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To: Perdogg

Bush’s fault.

It’s the sequester.

If only the Republicans would have agreed to (even more) tax increases, this would have been avoided.

Think of how much worse it would have been without the Obama team’s herculean efforts.

It’s a cabal of old rich white guys who just hate the fact that a (semi-) black man is President.

Well, you see, it’s... SQUIRREL!

(Did I miss any?)


16 posted on 04/05/2013 6:41:31 AM PDT by kevkrom (If a wise man has an argument with a foolish man, the fool only rages or laughs...)
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To: seeker41

More like Joke and Mirrors.


17 posted on 04/05/2013 6:48:50 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: ClearCase_guy
The unemployment rate declined to 7.6%

Well if the Ministry of Propaganda says it's true, who am I to argue.

18 posted on 04/05/2013 6:49:49 AM PDT by dfwgator
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To: Perdogg

Documentation File on the negative impact of the Obamanation Counterculture on America.


19 posted on 04/05/2013 6:50:37 AM PDT by Graewoulf (Traitor John Roberts' Commune-Style Obama'care' violates U.S. Constitution AND Anti-Trust Law.)
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To: PoloSec

I made that point yesterday on the striking fast food workers thread. Those are the jobs we’re creating. pouring coffee and flipping burgers.


20 posted on 04/05/2013 6:52:22 AM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: Perdogg

Does anyone believe anything from the government anymore?

We know the numbers are cooked every month, nobody even cares any more.

We need a few people like Sam Adams and Patrick Henry today.


21 posted on 04/05/2013 6:53:16 AM PDT by Lets Roll NOW (A baby isn't a punishment, Obama is)
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To: ClearCase_guy

In reality, the jobless rate didn’t decline at all. It went up.


22 posted on 04/05/2013 6:58:13 AM PDT by popdonnelly (The right to self-defense is older than the Constitution.)
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To: Chad N. Freud

Ha, they don’t need a new scandal, take your pick of what’s already on the front burner of the stove — NK missles, China bird flu, or high-level state law enforcement officials shot in three states?


23 posted on 04/05/2013 7:06:55 AM PDT by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: popdonnelly

If you look at U6 which is the broadest measure (U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force) it declined from 14.3% to 13.8%. this is much more akin to the “real” unemployment number.


24 posted on 04/05/2013 7:11:06 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Lets Roll NOW

Does anyone believe anything from the government anymore?

We know the numbers are cooked every month, nobody even cares any more.

We need a few people like Sam Adams and Patrick Henry today.


General Pinochet also comes to mind.


25 posted on 04/05/2013 7:25:08 AM PDT by laplata (The Answer To 1984 Is 1776)
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To: Senator_Blutarski
-- "America now has more people voting for a living than people working for a living." --

Bump that. It's a great soundbite. Hats off to whoever penned it.

The politicians won't take advantage of the observation, because, well, because the politicians don't want to irk the people who vote for their living.

26 posted on 04/05/2013 7:33:47 AM PDT by Cboldt
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27 posted on 04/05/2013 7:55:34 AM PDT by TheOldLady
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To: kevkrom

You forgot that good old standby - global warming.


28 posted on 04/05/2013 8:10:23 AM PDT by fhayek
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To: Perdogg

Well the MSM theme for the 2014 mid-term elections was going to be

“biggest economic recovery in history”

now transitioning to:

“would have been the biggest economic recovery in history except for the Republican sequester”


29 posted on 04/05/2013 8:13:08 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: Perdogg

But the BIG STORY on Action News... Jimmy Fallon gets a balcony in his 30 Rock Tonight Show Studio...


30 posted on 04/05/2013 8:15:40 AM PDT by Shady (Libya shows us how Americans rate...)
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To: laplata

You said....
“General Pinochet also comes to mind.”

I have been explaining what happened to Chile in the 1970’s through the 1980’s to folks for the last several years and it looks like we are closer to getting a Pinochet than a Jefferson or Henry


31 posted on 04/05/2013 8:19:45 AM PDT by LMAO ("Begging hands and Bleeding hearts will only cry out for more"...Anthem from Rush)
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To: LMAO

As long as the purges continue, the less likely that will happen.


32 posted on 04/05/2013 8:28:13 AM PDT by laplata (The Answer To 1984 Is 1776)
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To: fhayek
Dang. I knew I was missing something...
33 posted on 04/05/2013 8:40:59 AM PDT by kevkrom (If a wise man has an argument with a foolish man, the fool only rages or laughs...)
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To: Perdogg

In Obama’s America, this is great news..more people dropping out of the labor force means those people will need to get money from somewhere..they will rely on the Govt, which is what Obama wants, throw them some food stamps, welfare checks, and free Govt healthcare and he owns them for life


34 posted on 04/05/2013 9:10:13 AM PDT by Sarah Barracuda
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To: Sarah Barracuda

Well it certainly allowed them to purchase the 2012 election.

And it will continue to work as long as they can create 40 cents of fake money for every dollar in tax receipts.


35 posted on 04/05/2013 9:12:59 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: kevkrom

I think you missed Global Warming, but that’ll get us through today.


36 posted on 04/05/2013 9:18:47 AM PDT by mykroar (Moderation in temper is always a virtue; but moderation in principle is always a vice.-Thomas Paine)
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To: ClearCase_guy

“The unemployment rate declined to 7.6%”

I think a careful reading of the statistics will show that the decline happened because I quit looking for a job.

Might as well draw social security before it’s terminated.

If we don’t get some financial discipline in our government, there’s no hope for America’s future. Maybe it’s time to pass a balanced budget amendment.


37 posted on 04/05/2013 4:04:26 PM PDT by paristexas
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To: ClearCase_guy

“The unemployment rate declined to 7.6%
All the rest is mere chatter.”

If the media chooses to ignore the labor force participation rate drop. IE: real underemployment yes


38 posted on 04/05/2013 4:48:57 PM PDT by Monorprise (`)
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To: Monorprise

if they are on disability they are not drop outs.

To presstitute....
they are safely out of sight and statistics. They become good, not evil. positive, not negative


39 posted on 04/05/2013 4:53:23 PM PDT by bert ((K.E. N.P. N.C. +12 .....History is a process, not an event)
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To: paristexas

The only way i see that happening is if we get our States to call a Constitutional convention and get the house to do its job in recognizing those calls.

This can be done but it will require state level origination of the sort we have already been forming as part of the 10ther movement.

Check it out his is very do able: http://bba4usa.org/


40 posted on 04/05/2013 4:57:16 PM PDT by Monorprise (`)
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To: bert

” they are on disability they are not drop outs.”

Are you sure about that? I’ve heard of and seen more than a few people on disability who could easily find a job.

I ain’t saying their ain’t folk who are legitimately unable to work. I’m just saying the current number does not even remotely reflect that.


41 posted on 04/05/2013 4:59:57 PM PDT by Monorprise (`)
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To: Perdogg

42 posted on 04/06/2013 12:16:45 AM PDT by Domalais
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To: Domalais

This chart shows it has never dropped this much before.


43 posted on 04/10/2013 6:51:55 PM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: Domalais

The biggest before was around one percent, this is around FOUR! WOW


44 posted on 04/10/2013 6:56:18 PM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: Shady

It would be better if they fired Fallon!!!

He’s enough to make anyone puke!


45 posted on 04/10/2013 6:59:11 PM PDT by dalereed
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