Skip to comments.Payrolls Plunge To 88K, Biggest Miss Since December 2009, Participation Rate At New 30 Year Low
Posted on 04/05/2013 5:36:53 AM PDT by Perdogg
So much for "open-ended QE driven recovery". Moments ago the March Non-farm payroll hit and it was a doozy, printing at 88K, below the lowest forecast of 100K, well below the expected number of 190K, and a tragedy compared to the February revised print of 268K (was 236K). This was the biggest miss to expectations since December 2009 and the worst print since June 2012. The unemployment rate declined to 7.6%, but this was due entirely to the collapse in the labor force participation rate, which declined by 20 bps to 63.3%, a new 30 year low.
And now the time to come up with excuses is here.
” they are on disability they are not drop outs.”
Are you sure about that? I’ve heard of and seen more than a few people on disability who could easily find a job.
I ain’t saying their ain’t folk who are legitimately unable to work. I’m just saying the current number does not even remotely reflect that.
This chart shows it has never dropped this much before.
The biggest before was around one percent, this is around FOUR! WOW
It would be better if they fired Fallon!!!
He’s enough to make anyone puke!