December Nonfarm Payrolls Rose 103.000; Unemployment Rate At 9.4%

(For December 2010)

Nonfarm payrolls rose 103.000 in December. The consensus was at 160.000, November reading was an increase of 71.000 (revised +42.000). The unemployment was reported at 9.4% vs. prior reading of 9.8% and consensus of 9.7%.

Private payrolls were up 113.000 vs. 180.000 consensus and 79.000 reading in November (revised +29.000).

Average weekly hours worked for private employees stayed unchanged at 34.3.

Huge miss in both nonfarm payrolls and private payrolls. Unemployment rate fell on reduced participation in labor force (lowest since ’80s). All in all weak report, especially having in mind rosy sunglasses sentiment.

Chart 1. Nonfarm Payrolls & Unemployment Rate

Chart 2. US Average Weekly Hours All Employees


, ,

This entry was posted on Friday, January 7th, 2011 at 8:01 am and is filed under U.S. Economic Data. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.


Get Adobe Flash player