NFP number is a joke

B

bond_trad3r

Unemployment at 9.4%.... 100k+ new jobs created...

Baloney!

Look at the non-seasonally adjusted data
http://bls.gov/news.release/empsit.t17.htm

Nov. 131,871
Dec. 131,514

There was a decrease of 357,000 jobs in December. Keep in mind that December is a month of heavy every hiring for temp workers due to the Christmas rush. Yet we still lost 357 thousand jobs !! How the adjusted data showed a 100k gain is complete and utter bull.

The economy needs about 125k monthly in new job creation just to keep up with population growth. I truly feel bad for those who went to college, spent 100k on a useless degree, and now cant even get a job flipping burgers or cleaning toilets.
 
Huh? Methinks you're somewhat mistaken...

Seasonally unadjusted data for the previous years shows that the CES normally registers a decrease in total nonfarm employment between Nov and Dec. For example:
2000 - decrease of 63k
2001 - decrease of 389k
2002 - decrease of 413k
2003 - decrease of 182k
2004 - decrease of 227k
...
2008 - decrease of 1034k
2009 - decrease of 521k

See here for the data: ftp://ftp.bls.gov/pub/suppl/empsit.compaeu.txt

So your interpretation of the seasonal adjustment is definitely wrong. Your conjecture regarding temp hiring is certainly inconsistent with the CES and may very well be wrong as well.
 
Quote from Martinghoul:

Huh? Methinks you're somewhat mistaken...

Seasonally unadjusted data for the previous years shows that the CES normally registers a decrease in total nonfarm employment between Nov and Dec. For example:
2000 - decrease of 63k
2001 - decrease of 389k
2002 - decrease of 413k
2003 - decrease of 182k
2004 - decrease of 227k
...
2008 - decrease of 1034k
2009 - decrease of 521k

See here for the data: ftp://ftp.bls.gov/pub/suppl/empsit.compaeu.txt

So your interpretation of the seasonal adjustment is definitely wrong. Your conjecture regarding temp hiring is certainly inconsistent with the CES and may very well be wrong as well.
More...

I guess that ends that debate
 
Bond Trader: Don't stress out man...LOL.

It's all smoke and mirrors.
looks as if the Bond Offering, or re-offering today went a little better than expected....so someone is buying into the SPIN. Just not you or I.
However Corporate Bond prices do not seem real attractive at the current levels. Muni's are a "bomb" just waiting to go off.

But hey....ALL IS GOOD IN THE HOOD BRUVA:D
 
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