The average newspaper has 10 times more analysis of a football game than it does of the jobs market. Here's an attempt to balance it out.
BLS
Rates resilient once again, and look to end week up just slightly on improving economic news.
We should pay attention to the labor participation rate not the unemployment rate because labor participation drives the economy.
Rates are down today—regaining some of yesterday’s rise and ending the week near record lows—after this morning’s BLS report showed the economy added 80k non-farm payrolls in October. Plus September was revised from 103,000 to 158,000 new jobs created and August was revised from 57,000 to 104,000. This figure doesn’t count actual people, it counts
BLS Jobs – Non-Farm jobs for October were +80,000. – Unemployment rate was 9.0%. Down from 9.1% – Average workweek was 34.3 hours – unchanged – Average Hourly Earnings was +0.2%. -Details: Private Jobs were +104,000. Public Jobs were -24,000. This will continue as state and local government continue to shed weight. I want to
BLS Jobs – Non-Farm jobs for October were +80,000. – Unemployment rate was 9.0%. Down from 9.1% – Average workweek was 34.3 hours – unchanged – Average Hourly Earnings was +0.2%. -Details: Private Jobs were +104,000. Public Jobs were -24,000. This will continue as state and local government continue to shed weight. I want to
Friday is the big Bureau of Labor Statistics jobs report for October. Markets expect 88k-100k new jobs created in October and unemployment to hold at 9.1%. Through September, the economy added 1.074m jobs or 119k/mo, but there are still 6.6m fewer jobs than the beginning of the recession in December 2007. But don’t worry, someone’s
BLS Employment Situation Report shows +103,00 new nonfarm payrolls for September and moves August from flat to +57,000 and move July gains up as well. For the past 3 months there were +287,000 jobs. We need about +140,000 jobs/month to keep pace with population growth and maintain the same ratio of those employed/total population. Since
Rates are down slightly on mortgage bond buying (FNMA 3.5% coupon +38 basis points) after another grim BLS report showing the economy added zero non-farm payrolls in August. Plus July was cut to show 85k new payrolls instead of the previously reported 117k, and June was cut from 46k to 20k. This figure doesn’t count
BLJ Jobs in August were unchanged. June growth was revised down 20,000 and July growth was revised down 32,000. This report show 52,000 fewer people working than the last report. Private jobs were +17,000. Government Jobs were -17,000 for August and Health Care and Social Services jobs were +35,500. The only good news here is
This email subject is definitely quote of the day. My usage of “un-smart” is an attempt to match the utter lack of conviction. The senders should know better, they actually run a very good market intel service. [UPDATE 2pm PT: The Smart QOTD goes to @Dvolatility for this quote: Markets are just another division of
As predicted, rates are up slightly on mortgage bond selling (FNMA 4% coupon -94 basis points) after after a better than expected BLS report showing the economy added 117,000 non-farm payrolls in July, plus June was revised to show 46,000 new payrolls instead of the previously reported 18,000. Non-farm payrolls doesn’t count actual people, it
As predicted, rates are up slightly on mortgage bond selling (FNMA 4% coupon -94 basis points) after after a better than expected BLS report showing the economy added 117,000 non-farm payrolls in July, plus June was revised to show 46,000 new payrolls instead of the previously reported 18,000. Non-farm payrolls doesn’t count actual people, it
BLS Jobs Report The July jobs report shows 117,000 more payrolls in July. Normally this would be regarded as mediocre but at present this is above expectations. That says as much about expectation as it does about jobs. Private jobs gained 154,000. The large gains were in health care (36,700) and Retail (25,900). Manufacturing gained
Why is the jobs market not recovering? To a large extent, the state of the jobs market is what will determine the outcome of the 2012 elections. To start, I want to make clear that it has always been my belief that there is little that the President and Congress can do to create jobs.
Rates are down this morning on a huge mortgage bond rally (FNMA 4% coupon +65 basis points) following a BLS report showing the economy only added 18,000 non-farm payrolls in June, fewest in nine months, plus April and May were revised down 44,000. Non-farm payrolls doesn’t count actual people, it counts how many companies opened
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