January Nonfarm Payrolls Rose 36.000; Unemployment Rate At 9.0%

(For January 2011)

Nonfarm payrolls rose 36.000 in January. The consensus was at 146.000, December reading was an increase of 121.000 (revised +18.000). The unemployment was reported at 9.0% vs. prior reading of 9.4% and consensus of 9.5%.

Private payrolls were up 50.000 vs. 145.000 consensus and 139.000 reading in December (revised +26.000).

Again: 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.

Average weekly hours worked for private employees fell 0.1 at 34.2.


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This entry was posted on Friday, February 4th, 2011 at 8:07 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.

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