http://www.businessinsider.com/march-jobs-report-2012-4
UPDATE:
Household Survey Data
The number of unemployed persons (12.7 million) and the unemployment rate
(8.2 percent) were both little changed in March. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men
(7.6 percent), adult women (7.4 percent), teenagers (25.0 percent), whites
(7.3 percent), blacks (14.0 percent), and Hispanics (10.3 percent) showed
little or no change in March. The jobless rate for Asians was 6.2 percent,
not seasonally adjusted. (See tables A-1, A-2,and A-3.)
The number of long-term unemployed (those jobless for 27 weeks and over)
was essentially unchanged at 5.3 million in March. These individuals
accounted for 42.5 percent of the unemployed. Since April 2010, the number
of long-term unemployed has fallen by 1.4 million. (See table A-12.)
The civilian labor force participation rate (63.8 percent) and the
employment-population ratio (58.5 percent) were little changed in March.
(See table A-1.)
The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) fell from 8.1 to 7.7 million
over the month. These individuals were working part time because their
hours had been cut back or because they were unable to find a full-time
job. (See table A-8.)
In March, 2.4 million persons were marginally attached to the labor
force, essentially unchanged from a year earlier. (The data are not
seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime
and....
http://www.zerohedge.com/news/nfp-big-miss-120k-expectations-205k-unemployment-82
Submitted by Tyler Durden on 04/06/2012 08:32 -0400
http://www.zerohedge.com/news/treasury-yields-drop-most-5-months-market-reacts-equity-futures-slide
Submitted by Tyler Durden on 04/06/2012 09:16 -0400
DISASTER: JOBS REPORT MISSES EXPECTATIONS AT 120K
 (Photo by David McNew/Getty Images) |
BIG MISS...
The March Non-Farm Payrolls report came in at 120K, well below expectations of 37K.
Private payrolls missed badly, coming in at 121K vs. expectations of 215K.
Unemployment, however, fell from 8.2%, down a tick from 8.3%.
From the report:
Nonfarm payroll employment rose by 120,000 in March, and the unemployment
rate was little changed at 8.2 percent, the U.S. Bureau of Labor Statistics
reported today. Employment rose in manufacturing, food services and drinking
places, and health care, but was down in retail trade.
rate was little changed at 8.2 percent, the U.S. Bureau of Labor Statistics
reported today. Employment rose in manufacturing, food services and drinking
places, and health care, but was down in retail trade.
The number of unemployed persons (12.7 million) and the unemployment rate
(8.2 percent) were both little changed in March. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men
(7.6 percent), adult women (7.4 percent), teenagers (25.0 percent), whites
(7.3 percent), blacks (14.0 percent), and Hispanics (10.3 percent) showed
little or no change in March. The jobless rate for Asians was 6.2 percent,
not seasonally adjusted. (See tables A-1, A-2,and A-3.)
The number of long-term unemployed (those jobless for 27 weeks and over)
was essentially unchanged at 5.3 million in March. These individuals
accounted for 42.5 percent of the unemployed. Since April 2010, the number
of long-term unemployed has fallen by 1.4 million. (See table A-12.)
The civilian labor force participation rate (63.8 percent) and the
employment-population ratio (58.5 percent) were little changed in March.
(See table A-1.)
The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) fell from 8.1 to 7.7 million
over the month. These individuals were working part time because their
hours had been cut back or because they were unable to find a full-time
job. (See table A-8.)
In March, 2.4 million persons were marginally attached to the labor
force, essentially unchanged from a year earlier. (The data are not
seasonally adjusted.) These individuals were not in the labor force,
wanted and were available for work, and had looked for a job sometime
in the prior 12 months. They were not counted as unemployed because they
had not searched for work in the 4 weeks preceding the survey.
(See table A-16.)
had not searched for work in the 4 weeks preceding the survey.
(See table A-16.)
and....
http://www.zerohedge.com/news/nfp-big-miss-120k-expectations-205k-unemployment-82
NFP Big Miss: 120K, Expectations 205K, Unemployment 8.2%
March NFP big miss at just 120K. Unemployment rate declines from 8.3% to 8.2%. Futures slide, for at least a few minutes before the NEW QE TM rumor starts spreading. The household survey actually posted a decline in March from 142,065 to 142,034. Considering Birth Death added 90K to the NSA number, the actual number was almost unchanged. And as always, as we predicted when Goldmanhiked its NFP forecast yesterday from 175K to 200K saying "if Goldman's recent predictive track record is any indication, tomorrow's NFP will be a disaster", Goldie once again skewers everyone. Finally, Joe LaVorgna's +250,000 forecast was just 100% off... as usual.
The unemployment rate drops to 8.2% for one simple reason: the number of people not in the labor force is back to all time highs: 87,897,000.
and it looks like we shall se some risk off turbulence as the game to gin up QE 3 shall begin starting next week....
Treasury Yields Drop Most In 5 Months As Market Reacts, Equity Futures Slide
Risk-Off. Treasury yields dropped around 12bps across the curve from pre-NFP as the 10Y yield drops the most in 5 months. Equity futures are down the most in a month (20pts off pre-NFP levels) and testing lows as they catch up to credit weakness. IG credit is testing 100bps for the first time in over 2 months and HY credit is back over 600bps - its widest in 3 months. Gold has popped $10 or so to over $1640 and it appears we have a new FX regime with USD weakness implying market weakness as JPY strength (on repatriation and carry unwinds back to one-month highs) is the most impressive (and AUD weakness for same reason). EURUSD is leaking higher as is swissy, as the EUR-USD swap spread model converges on EURUSD's fair-value. Of course markets are thin, but ES (the S&P 500 e-mini futures) is trading relatively actively and testing lows once again as they close - not pretty at all as ES ends the week with the heaviest 3-day loss in four months (perhaps notably ending at 2011's May high print level).
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