Muted reaction to jobs report


In addition to February's revision from 175K in job gains to 197K, January is revised higher by 15K jobs to 144K.

Average hourly earnings fell by $0.01 to $24.30. On a Y/Y basis, average hourly earnings are higher by 2.1%. The average workweek increased 0.2 hours to 34.5 hours, offsetting the net decline over the previous three months.

The headline unemployment rate didn't fall as expected, but this came as people flocked back into the workforce to the tune of about 500K workers. The labor force participation rate rises to 63.2% from 63% previously. A year ago it was 63.3%.

The broader U-6 unemployment rate rose to 12.7% from 12.6%. A year ago it stood at 13.9%.

S&P 500 (SPY) futures pop just a bit higher, now +0.3%; the 10-year Treasury yield ticks down a basis point to 2.79%.

S&P 500 ETFs: SPY, IVE, SH, SSO, SDS, IVV, VOO, SPXU, UPRO, SPXL, RSP, RWL, EPS, IVW, SPYG, RPG, RPV, SPYV, VOOG, BXUB, VOOV, TRND, SFLA, BXUC, BXDB, SPLX, FTA

Treasury ETFs: TBT, TLT, TMV, SHY, IEF, TBF, PST, EDV, TTT, TMF, SBND, ZROZ, IEI, TLH, DLBS, TYO, DTYS, VGLT, BIL, UST, SHV, UBT, TBX, VGIT, TLO, VGSH, SCHO, GSY, DTYL, ITE, SCHR, LBND, TYD, TENZ, TYBS, DTUL, SST, DTUS, FIVZ, TUZ, TBZ, DFVL, DLBL, DFVS, TYNS

Previously: 192K jobs gain in March about inline

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Comments (5)
  • 1GreatCFA
    , contributor
    Comments (1355) | Send Message
     
    Expectations were high for the NFP report so hard to say whether the majors have the stamina to stay up through out the trading session.
    4 Apr 2014, 09:12 AM Reply Like
  • Budavar
    , contributor
    Comments (1410) | Send Message
     
    Who does not know by now that the quote unemployment unquote numbers are cooked,
    yet the media gives them continued credence/prominence ?
    4 Apr 2014, 09:23 AM Reply Like
  • Topcat
    , contributor
    Comments (580) | Send Message
     
    If they were cooked, they never would have been released at much lower numbers for several years! Take them for what they are. A macro measurement of data from many employers. Look for the trend, not the hard numbers.
    4 Apr 2014, 11:31 AM Reply Like
  • Preston Moore
    , contributor
    Comments (68) | Send Message
     
    People were "giddy" yesterday with some predicting 300k or more. Are we finished blaming the weather yet?
    4 Apr 2014, 09:28 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3360) | Send Message
     
    McJobs

     

    It about the quality, not the quantity.

     

    http://1.usa.gov/1ikjRkF
    5 Apr 2014, 05:34 PM Reply Like
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