Posted on 03/07/2014 5:50:10 AM PST by John W
The Bureau of Labor Statistics says 175,000 workers were added to nonfarm payrolls in December, well above Wall Street’s consensus estimate of 149,000.
162,000 of those hires were to private payrolls, above expectations for a 145,000 rise in the ranks of private-sector workers.
The unemployment rate unexpectedly rose to 6.7% from 6.6%. Labor force participation was unchanged at 63.0%.
610,000 were unable to work due to inclement weather in February, above the historical February average of 317,000.
(Excerpt) Read more at businessinsider.com.au ...
Just two words about this jobs report....”My A$$?”
Drink
It surprises me that anyone still gives any credence at all to any information coming from this government.
Yes, understand things in Australia are taking a move downward.
How is that shake down movement going for you Wal street? ... Fed to prime, taxes, Obamacare. what a thugocracy we are entering. They all must be so proud. No wonder now they want to shake down for our guns, 1929 is going to be a joke.
Ditto - on the jobs number being revised down next week. It is the pattern of this administration. If a private business constantly gave out false information to its clients, it would be fined or put out of business by our “benevolent” government/s.
Maybe some of the jobs were snow blowing/shoveling, etc.
Confusion verses non-Confusion and everyone takes a Deep Breath. Am truly surprised to this moment but that does not mean I do not think it couldn’t happen.
This report comes out monthly. Initial Claims comes out weekly.
So "wall street" makes up a number. Sees a higher number from BLS and then says, "Hurrah! We should invest, no wait. We are counting on the feds to buy more stocks and bonds. What a glorious day!"
Really? The wolves in charge of the henhouse are making low ball predictions and then celebrating when it comes in higher?
A country club here in the KC metro is probably going to file bankruptcy. It’s been around since 1952. It’s membership has dropped 36% in the past 10 years. I want to believe that prosperity will come back and my kids will have the opportunities I had. But I see a “new normal” settling in: A philosophical stance that rejects the idea of prosperity because it increases our carbon footprint.
“Wall Street” in this case is “consensus estimate” of hundreds of economists. Some of them work for Wall Street firms. Some of them work for companies (FDX has a chief economist). Some of them work for universities. NASDAQ and NYSE have economists. It’s not a bunch of traders “making up numbers” and it’s averaged to smooth out the variances in forecasting methodologies.
As someone who does forecasting for a living, the one thing I always know for sure about my forecast is that it’s wrong.
It (hic) wood seam (hic) like weeeee .....May hav (hic) expectedly hy leeeevuuls of (hic) unexpected fer sum time yet. Eye gosss tuh paaass out now.
Yeah Country Clubs took a huge hit in Atlanta as well. Discretionary expense when times were tough that was easy to cut. Same thing for private schools who have seen applications drop.
The solution, in my opinion, lies in the federal government getting the hell out of the way so the economy can grow faster. The GOP is just as bad as the Dems.
Here is a quote from Dalls fed President Richard Fisher:
“It is my firm belief that the fault in our economy lies not in monetary policy but in a feckless federal government that simply cannot get its fiscal and regulatory policy geared so as to encourage business to take the copious amount of money we at the Fed have created and put it to work creating jobs and growing our economy. Fiscal policy is not only “not an ally of U.S. growth,” it is its enemy. If the fiscal and regulatory authorities that you elect and put into office to craft taxes, spending and regulations do not focus their efforts on providing incentives for businesses to expand job-creating capital investment rather than bicker with each other for partisan purposes, our economy will continue to fall short and the middle-income worker will continue being victimized, no matter how much money the Fed prints.”
Unexpected™
“It surprises me that anyone still gives any credence at all to any information coming from this government.”
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No surprise at all considering that some people still believe in AGW and believe it or not some still think BHO was a good idea. Personally I would rather have the DTs than listen to BHO prattle about AGW.
“will be revised”
BINGO
Strange admission coming from fed. In their opinion (the fed) creating money creates jobs and grows the economy.
Markets aren’t necessarily doing the somersaults over this anticipated by futures and stories on the employment report.
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