Nonfarm Payrolls

The non farm payrolls report was just reported and came in with a report of 190,000 jobs lost last month.  The estimate was for 175,000.  However, last month’s number was revised from -263,000 to -219,000.  The unemployment rate finally went over 10.2%.  Below is a picture of the non farm payrolls from 2003 until now.  You can see even though these estimates are way off each month, the overall trend is improving which is correlated to the stock market.

Remember, this report is a lagging indicator.  Employers will make their current employees be more productive and work more before hiring.  Then, once they are convinced the economy is better, they start to hire.  The trend is still moving in the right direction.  Unfortunately, there are still a lot of people sitting at home who want a job.

nonfarm payroll change

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