Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
As always the overreaction to a number that is revised substantially is a bit humorous but here is what the government is reporting on first revision for December:
+200,000 (v 155,000 expected)
Private sector +212,000; public sector -12,000
Unemployment rate down to 8.5% (vs 8.7% last month)
U-6 (broader unemployment) 15.2% v 15.6%
Workforce again dropped (which is largely why the unemployment rate is dropping) – labor force participation down to 64% – new readers if the labor force participation rate was “normalized” we’d be seeing the unemployment rate 2% higher than it is now.
Hourly earnings +0.2% versus flat last month. Workweek up to 34.4 vs 34.3 hours – these 2 points are good.
Full report here.
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