Non-Farm Payrolls

Quote from CoolTrader:

U.S. unemployment rate soars to 5.5% in May

By Rex Nutting
Last update: 8:30 a.m. EDT June 6, 2008
WASHINGTON (MarketWatch) - The U.S. unemployment rate jumped by a half percentage point to 5.5% in May on the biggest increase in seasonally adjusted unemployment in 33 years, the Labor Department reported Friday. Nonfarm payrolls fell by 49,000 in May, the fifth consecutive decrease and in line with expectations of economists. The economy has lost 324,000 jobs so far this year. Unemployment rose by 861,000 to 8.5 million, the government said. The 0.5 percentage point increase in the unemployment rate was a shock, as economists expected a much smaller 0.1 percentage point gain to 5.1%. The jobless rate is the highest since October 2004. It was the biggest percentage point gain in unemployment since 1986.

The above is from CBS MarketWatch. How can the pay roll drop only 49,000, while unemployment rose by 861,000?
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Did you notice that little revision of the previous nonfarm figure? If you look at the history of these revisions, it seems that for the last several months its a tendency: positive figure (and also for some time now a positive figure is something that is not as bad as expected), market pops, then nobody cares about the revision, even if it shows blatant lie & manipulation. Rinse and repeat.
 
Nothing good to say about it... nice 214 point drop...looks like a lot of buy opportunities will soon appear...just be patient
 
ok.. still waiting....but no entry point for me yet this morning...should have short PCX for around $1plus this morning but scared away by it's strength.... anyway.. no trade so far. Still waiting for the buy opportuniies... I believe they will be here later this afternoon. Let's do something else now..
 
more people looking for jobs who were not in previous months. Students seems to be the big reason.


Quote from Bernard111:

they're the result of 2 different samples/serie.
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Quote from Ivanovich:

The question is, are people losing jobs because companies are cutting back as a result of the credit crisis or because of rising prices?

If it's the latter, then we have Bailout Ben to thank for it, and price stability needs to be acheived before companies can feel comfortable hiring again.

The Fed screwed it all up again.
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No the fed didn;t screw it up again. Companies are outsourcing instead of hiring which helps the bottom line.

Stocks will continue to rise because we're in a bull market.
 
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