Breaking: non-farm payrolls up 117,000 in July - unemployment fell 0.1% to 9.1%

[jpak]

Private sector added 154,000

MSNBC

[Dawgs]

1. I think it's 117,000, not 177,000. n/t

[Atman]

5. Not sure the 177,000 is coming from, but MSNBC is saying 154,000

AND 117,000. Not sure what they're talking about.

[Dawgs]

6. 154,000 private sector. 117,000 total. n/t

[econoclast]

2. Actually I think 117,000.

Think in the excitement, you had a typo.

[jpak]

3. yup - and fixed

:hi:

[Buns_of_Fire]

10. 177,000, 117,000, whichever. The figures will be "revised" in a few weeks, anyway.

And as usual, no one will notice the revised figures, since they'll be buried on page 12A.

They could just about report anything they damned well want to. Who's gonna know? If it aids the perception that we're pulling out of this and therefore every congresscritter should be re-elected because they're doing such a terrific job and you can expect your Government Pony any day now, it'll serve its purpose.

Cynical? Hey, not me!:-)

[Kolesar]

4. My employer had five quarters of double-digit growth in earnings,

with last quarter having been an all-time record!

The problem is that the manufacturing index fell to a middling 50-1/2 and durable goods orders are flagging.

[HereSince1628]

7. Wait...No! Wall St sold off because everything is SOUR!

Damn, and I went short on the US along with Cantor :(

Well, maybe the rest of the sheep will follow the foreign markets over the cliff...


:Sarcasm:

[jpak]

9. Most economists expected 75,000 - so the shorts got got fucked

at least oil is down - $82 a barrel right now as far as I can see...

[Ian David]

8. Futures Jump After Positive Jobs Report

Futures rallied Friday after a government jobs report that trumped expectations, following a sharp global selloff across in the previous session as investors were rattled over fears the European debt crisis was spreading to Spain and Italy.

Hiring picked up in July as the Labor Department reported employers added 117,000 jobs last month and the unemployment rate dipped to 9.1 percent, an improvement from the past two months. Economists had expected a gain of 85,000 jobs.

"Wow! An incredible surprise considering the horrific macro points we've received the past few months," said Todd Schoenberger, managing director of LandColt Trading. "Personal spending, manufacturing, GDP—all of this kept traders awake at night."

"Risk will reenter the markets, especially after yesterday's poisoned session," added Schoenberger. "Look for yields to rise, as well, with investors shifting allocations before the weekend."

More:
http://www.cnbc.com/id/44031109

[jeff47]

11. Not good news

It's widely accepted that we need about 125,000 jobs/month to keep up with population growth. (Most estimates are between 90,000 and 150,000).

So this report says we're treading water. It's not bad news, like 50,000 jobs would be. But it's also not improving the unemployment situation.

[econoclast]

12. One downer however...

Is that the labor force participation rate Fell.

193,000 people left the labor force. That is what helped drive the inployment rate down to 9.1%

Netting 117,000 jobs added. Less 193,000 who left the labor force. Negative 76,000

Not too good.