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Jobs Part 2

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Jobs Part 2

Postby Trading.AdvantageCom » Tue Nov 06, 2012 1:16 am

Jobs Part 2
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Friday’s NFP number (non-Farm Payroll) report was better than expected. At 171,000, it was better than even the highest estimate by economists…by a wide margin.
Some economists thought that hurricane Sandy would negatively impact the NFP results, but they were wrong. The Bureau of Labor Statistics (BLS) had finished gathering its data before the storm struck. It will surely, however, impact the next reading on employment.
From the BLS we read, September 2012 Employment Report.
Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.
Since it takes about 130,000 new jobs per month to keep up with population growth, this was a good data point. But you may be wondering how the unemployment rate went up if the amount of jobs created were better than 130k? That would be because the amount of workers actively seeking a job increased last month.
One may also be wondering: If the jobs data were much better than expected, why was the stock market crushed Friday? Nobody can know the exact reason but I believe it was because the market exploded before the data were known, Thursday. A came, but it was a day early.
So the market’s reaction the day before the NFP and the day of the NFP report was interesting, but should be nothing compared to the reaction of the market from the election. Tuesday and Wednesday should be interesting.
Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.
Best Trades to you,
Larry Levin
Founder & President- Trading Advantage
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