US Jobs Numbers BAD – its time for the Bazooka from the Feds

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The US Nonfarm Payroll surprised markets and disappointed economists.

The final report gave the following information:

 

Nonfarm Payrolls 

Actual

80K

 

Estimate

90K 

 

Prior

77K 

 

 

 

Unemployment Rate 

8.2%

 

8.2% 

 

8.2% 

 

 

 

Average Weekly Hours 

34.5

 

34.4 

 

34.4 

 

 

 

Private Nonfarm Payrolls 

84K

 

102K 

 

105K 

   

 There was not one bit of positive data in the report, no silver lining unless one would say that the unemployment rate did not climb again this month, or weekly average hours remained close to the same, when the average work week in the US is 37.5, this number says that most people are working complete weeks.

Private payrolls, which are small business, large and medium size businesses combined, but America can usually rely on small private businesses to hire faster then the larger business, but when small business are not hiring, that means that small business are continuing to suffer.

In the US, the economy has to react over 200k jobs per month just to keep numbers positive and at this rate we continue to lose jobs.

If one were to look deep to find a bright light or a silver lining, we could then look to the Federal Reserve where Ben Bernanke has promised to pull out the big guns if the economy needs a boost.

With these numbers and a month of lackluster eco data, the economy needs a big boost and so does President Obama, as elections grow near, if he can not fix or show improvement to the economy, his time in office is very limited. Elections are scheduled for November 2012.

With these numbers it will be bye bye Obama.

Watch and listen carefully for Ben Bernanke, we should be hearing from the Fed’s early next week.

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.