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Simply Dreadful US Jobs Report
Friday, October 2, 2015 8:21
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marctomarket.com / by Marc Chandler / October 2, 2015
There is nothing good that can be said about the US jobs data. It was simply dreadful. Every metric disappointed, and the August series which so often is revised higher, came in lower. This will raise fresh doubts about the US economy and the ability of the Federal Reserve to raise rates, not just this month, but this year.
Nonfarm payrolls rose by 142k, well below expectations for a 200k increase. With the downward revision in August to 136k, it is the second consecutive month below 150k, which has not been experienced since May-June 2012.
The unemployment rate itself was unchanged at 5.1%. However, it is marred by the decline in the participation rate to 62.4%, a new cyclical low. The fall in the participation rate also takes some of the gloss over the fall in the wider measure of (U6) fell to 10.0% from 10.3%.
The post Simply Dreadful US Jobs Report appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/02/simply-dreadful-us-jobs-report/
