Nonfarm Payrolls Edge Lower

Nonfarm Payrolls for November came out at -11.000 vs. -100.000 consensus and – 190.000 in September. A clear improvement and a positive surprise for the markets.

Chart 1. Non-farm Payrolls Monthly and Yearly Change

Source: Econoday

Source: Econoday

The unemployment edged lower to 10.0% from 10.2% in December. Consensus was at 10.2%.

Chart 2. Civilian Unemployment Rate

Source: Econoday

Source: Econoday

The equity and U.S. dollar moved higher on the news; gold and treasuries lower.

Portfolio update: sold off gold position yesterday; 100% in cash now.

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This entry was posted on Friday, December 4th, 2009 at 8:12 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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