Skip to comments.Per twitter NFP 162K, Exp. 185K (Epic Fail)
Posted on 08/02/2013 5:30:41 AM PDT by Perdogg
NFP 162K, Exp. 185K— zerohedge (@zerohedge) August 2, 2013
Found one they couldn’t fudge enough this week. How about that?
Oh, that’s great news!
Now Mr. Bernanke can keep his magic printing press going and continue to flood the market with worthless dollars.
But, the unemployment rate just dropped to 7.4%. WTF? (over)
But....but.....but.....didn’t unemployment go down??
labor participation rate dropped thats why it went down, its ridiculous.
No...they lie based on “expected” growth and then change the number back (quietly) back to reality the next week, and they have done this on every single jobs report during this administration. Every single one. (not to mention how they changed how employment and unemployment are calculated in order to make themselves look better).
Payrolls Miss 162K vs 185K Expected, June Revised Lower To 188K; Unemployment Rate 7.4%
Whatever you do, don't look at YTD full/part time breakdown— zerohedge (@zerohedge) August 2, 2013
Silver is suddenly straight up almost a buck, and the DJII futures lost 50 points in about a minute. Looks like bad news is bad news for once.
Market whisper number was 200k +. Big miss.
Don’t forget the May revision -29,000
A ZH poster made the point that in a normal world people would look at this weak number (162K) and say the Fed has been doing everything in their power, yet the numbers after 5 years are still bad.
One thing at this point should be perfectly clear: Trillions of dollars spent by the central planners have failed to improve the economy. We will pay a very high price in the future for this epic failure and the resulting economic distortions.
Full report here:
240K stopped looking for work last month.
Exactly right. Would like the resident freepers who come on these threads and try to turn Obama’s sow’s ear into a silk purse to respond to that.
That’s a bit short sighted by the ZH poster. The Fed has done the right thing supplying the needed liquidity (look at velocity) but they are fighting the fiscal and regulatory and tax side of the government. Things would be a hell of a lot worse if the Fed didn’t supply the liquidity the system is demanding. The economy is still weak because the business environment created by this administration is openly hostile to business and profits. My company is still hesitant ant to hire because we aren’t sure what the regulatory, tax, healthcare cost environment is going to be.