Posted on 03/03/2014 2:15:00 AM PST by expat_panama
your link’s faster than mine.
huh, i’da thot U3 would condinue to fall...
Average hourly Earnings up 2.2% vs 2.0% exp
Dec revised up +9k January +25K
interesting, unemployment rate went up and the ‘not in the labor force’ went down. Seems population’s really growing...
February Payrolls 175K, Beat Expectations Of 149K, Unemployment Rate Rises To 6.7%
Submitted by Tyler Durden on 03/07/2014 08:36 -0500
So much for the weather. As we warned earlier today, when we said that with everyone expecting a miserable print the only possible result would be a large “beat”, sure enough that’s precisely what happened. Breaking it down:
February payrolls: +175K, Exp. 149K, Last revised from 113K to 129K).
Unemployment rate: 6.7%, Exp. 6.6%, Last 6.6%.
Labor participation rate: 63.0%, Last 63.0%
Private payrolls: 162K, Exp. 145K, Last 145K
Manufacturing payrolls: 6K, Exp. 5K, Previous revised from 21K to 6K
From the report:
Both the number of unemployed persons (10.5 million) and the unemployment rate (6.7 percent) changed little in February. The jobless rate has shown little movement since December. Over the year, the number of unemployed persons and the unemployment rate were down by 1.6 million and 1.0 percentage point, respectively. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (6.4 percent), adult women (5.9 percent), teenagers (21.4 percent), whites (5.8 percent), blacks (12.0 percent), and Hispanics (8.1 percent) showed little or no change in February. The jobless rate for Asians was 6.0 percent (not seasonally adjusted), about unchanged over the year. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more) increased by 203,000 in February to 3.8 million; these individuals accounted for 37.0 percent of the unemployed. The number of long-term unemployed was down by 901,000 over the year. (See table A-12.)
Both the civilian labor force participation rate (63.0 percent) and the employment-population ratio (58.8 percent) were unchanged in February. The labor force participation rate was down 0.5 percentage point from a year ago, while the employment-population ratio was little changed over the year. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.2 million in February. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. (See table A-8.)
In February, 2.3 million persons were marginally attached to the labor force, a decline of 285,000 over the year. (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.)
Among the marginally attached, there were 755,000 discouraged workers in February, down by 130,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in February had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)
from BI:
The February Jobs Report just came out.
There are three things you should think about.
1) The Non-Farm Payrolls report was solid. This suggests that the economy was a bit stronger than we thought.
2) But the unemployment rate ticked up, which markets will like, since that gives the Fed some slack.
3) But there was a big gain in average hourly earnings (+0.4%), the strongest in a long time. This is a sign of a tightening labor force, which is something markets have been talking about lately, that the market is tighter than people realize.
Bottom line: A solid, goldilocks report that the market will like. But the average hourly earnings is a big story.
Read more: http://www.businessinsider.com/jobs-report-analysis-2014-3#ixzz2vHfwEqRR
The economy added 175,000 jobs in February while the unemployment rate rose to 6.7 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 149,000 jobs to be added. Upward revisions for December and January added an extra 25,000 jobs.
Food services and drinking places continued to add jobs, with 21,000 more in February and an average of 27,000 added each month over the last year. Professional and business services also added 79,000 jobs.
The number of long-term unemployed increased by 203,000 in February, and they now total 3.8 million people.
Whoa-— index futures are going orbital...
Unemployment rate by education:
No HS diploma: 9.8%
HS diploma: 6.4%
Some higher ed: 6.2%
College degree or more: 3.4%
Please add me to the list...thank you
'before-the-bell' bids on my holdings say I'm now rich. Somehow I'm really finding it hard to believe that the U3 is causing this...
You’re on; welcome aboard!
It’s a “Goldilox” report. Beat on NFP estimates and UE goes up means continued improvement in the economy yet not good enough for the Fed to slam on the taper brakes :-)
agreed
I pared down a little today. A bird in the hand type of thing. We’ll see what happens over the weekend.
You post reminded be that I needed to check. What I got is I began by selling a third and then putting it back in. Looking back my choice was ‘buying insurance’ for further drops. Turns out this time to be not needed but really that’s what ‘insurance is all about’.
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