Friday, February 3, 2012

Amazing Jobs Report! Buy! Buy! Buy!

Hiring surges in January; jobless rate at 8.3 pct.
In impressive surge, nation adds 243,000 jobs in January; unemployment rate lowest in 3 years

Associated Press

WASHINGTON (AP) -- In a long-awaited surge of hiring, companies added 243,000 jobs in January — across the economy, up and down the pay scale and far more than just about anyone expected. Unemployment fell to 8.3 percent, the lowest in three years.
...
"The economy is growing stronger," President Barack Obama said. "The recovery is speeding up."
...
The 243,000 jobs added far exceeded the estimate by economists of 155,000, according to FactSet, a provider of financial data. Some surveys of economists came in even lower.
...
"This is a very positive employment report from almost any angle," said Brian Bethune, an economics professor at Amherst College.


Source: http://finance.yahoo.com/news/hiring-surges-january-jobless-rate-205709068.html

But wait, there's more!
- 1.2 million people dropped out of the labor force.
- Not seasonally adjusted: 2.9 million jobs were lost in the last two months (the seasonal "adjustment" converted a loss of 2.9 million into a gain of 243 thousand).
- About 113 thousand of the gain came from low-wage jobs (David Ader, strategist at CRT Capital).
- Part-time workers surged.
- Older workers are not retiring.






Source: http://www.zerohedge.com/news/nonfarm-payroll-surge-gain-low-wage-jobs
Source: http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-
Source: http://www.zerohedge.com/news/final-nail-todays-nfp-tragicomedy-record-surge-part-time-workers
Source: http://www.zerohedge.com/news/implied-unemployment-rate-rises-115-spread-propaganda-number-surges-30-year-high
Source: http://trimtabs.com/blog/2012/02/03/bidermans-daily-edge-232012-is-bls-data-skewed/

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