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Notes to myself, possibly of interest to others.
-- Bill Northlich

Friday, July 8, 2011

Jobs Report Today

Summary by Shedlock
  • US payrolls +18,000
  • Last month quietly revised lower to +25,000 from +54,000
  • US unemployment unexpectedly rises +.1 to 9.2% despite drop in participation rate
  • Since March, number of unemployed rises by 545,000
  • Household survey number unemployed up 173,000
  • Household survey number of employed down 445,000
  • 272,000 people dropped out of the labor force, reversing the labor force gain of 272,000 last month.
  • Average weekly workweek drops by 0.1 hours
  • Average manufacturing hours drops by 0.3 hours
  • Average private hourly earnings decrease 1 cent
  • There has been virtually no improvement in part-time employment in a full year. 8.5+ million workers want a full time job and cannot find one
Update:  From a trader, a consensus perspective
  • Nonfarm Private Payrolls 57K vs 110K Briefing.com consensus 
  • June Nonfarm Payrolls 18K vs 80K Briefing.com consensus
  • June Unemployment Rate 9.2% vs 9.1% Briefing.com consensus
  • June Hourly Earnings -0.1% vs +0.2% Briefing.com consensus
  • June Average Workweek 34.3 vs 34.4 Briefing.com consensus
  • May Nonfarm Payrolls revised to 25K from 54K; April Nonfarm Payrolls revised to 217K from 232K 

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