September Nonfarm Payrolls Reported At -95.000; Unemployment Rate At 9.6%

October 8th, 2010 by Belisarius

Nonfarm payrolls fell 95.000 in September. The consensus was at -8.000, August reading was revised (-3.000) decrease of 57.000. The unemployment was reported at 9.6% vs. prior reading of 9.6% and consensus of 9.7%.

Private payrolls were up 64.000 vs. 85.000 consensus and 67.000 reading in August.

Average weekly hours worked for private employees remain unchanged 34.2.

Big miss in the headline, but the overall picture improves if we look at private payrolls only.

Chart 1. Nonfarm Payrolls & Unemployment Rate


Chart 2. US Average Weekly Hours All Employees



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This entry was posted on Friday, October 8th, 2010 at 6:59 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.

2 Responses to “September Nonfarm Payrolls Reported At -95.000; Unemployment Rate At 9.6%”

  1. Kova Says:
    October 8th, 2010 at 12:01 pm

    “Big miss in the headline, but the overall picture improves if we look at private payrolls only.”

    Although I would say the picture is not much of an improvement if you combine it with the Wednesday’s ADP report..

  2. Belisarius Says:
    October 8th, 2010 at 2:09 pm

    It doesn’t matter where jobs are lost…just commenting on the way markets look at this…
    The report reveals big problems at state level where more and more people lose their jobs.
    Overall, this in not recovery and again I don’t understand why the market sees this positive.

 
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