As I expected non-farm payrolls came out yesterday at -36.000 for February vs. -50.000 consensus and a revised -26.000 figure for January. Unemployment rate was unchanged at 9.7% vs. 9.8% consensus. We could say that the job losses for U.S. economy are approaching its end. Chart 1. Unemployment Rate & Non-Farm Payrolls Change

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Bad numbers on employment continue. Non-farm payrolls came at -190k vs. -175 k consensus and -263k last month.. Contrary to my guess yesterday. Unemployment has hit 26-year high of 10.2%. Average hourly earnings up 0.3% vs. 0.1% consensus. Average workweek at 33 hours, down from 33.1 last month.

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