Holy Shxt Update: Payrolls decline by 85,000!! Market Mover Friday: December Jobs Report

Good luck with that SOTU focusing on deficit reduction as Congress Critters running in 2010 push for more and more spending on ‘job creation’, if/when payrolls DO begin to tick up, a few million of us, including me, will return to the job market seeking full time work, when that happenes the UE RATE will JUMP. Dems are frakked. This was the last monthly payroll number before SOTU and Obama didnt get what he needed from it.

Just in December 600,000 Americans DROPPED OUT of the labor force. That is the ONLY reason the UE rate did not spike higher…

8:30 am Breaking it now on CNBC: Holy Shxt!! DECLINE OF 85,000!!! OUCH! So much for the ‘recovery’ baked in and Obama setting up a presser to take credit, if he still thinks he is taking credit for this crapulent number he is out of the loop on what the Street was expecting!! Oct revisions from -111k to down -127k, Rate unchanged 10% 15.3 million unemployed, 6.1 million for 6 months or longer, that is UP.

The big December Jobs Number releases at 8:30am EST. Widely divergent expectations (WSJ Subscription only) range from a loss of -30,000 jobs to a gain of 40,000 jobs.

…The Labor Department is expected to report a loss of 10,000 jobs in December, according to forecasters polled by Dow Jones. That compares to a decline of 11,000 the prior month. Some analysts think the U.S. might have even added net jobs in December..

For the second time, the WH has announced an Obama presser the day before the jobs report is officially released. Most of us who watch the number expect this means Team Obama did indeed get the data early and expects a gain in jobs. His presser is at 2:40pm EST. …


January 8, 2010. Tags: , , , , . Labor Department, Obama Administration, Politics, Unemployment Statistics, Wall St.

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