Fake +290K Payrolls "Added" On 188k Birth-Death Adjustment As Unemployment Goes Back To 9.9%,

[Joanne98]

290K of which census was 66k and Birth Death was 188k. Hurray -the economy added a real 36k in jobs in April. Still, we are curious how the Chairman will not be forced to discuss tightening after this B/D adjustment inspired number (188K in April B/D, 81K in March). And in the meantime, headlines will read Unemployment back to 9.9%, and Underemployment back to 17.1%. Record jittery market bounces than calms down again.

Full BLS release:

Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent, and the labor force increased sharply, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in manufacturing, professional and business services, health care, and leisure and hospitality. Federal government employment also rose, reflecting continued hiring
of temporary workers for Census 2010.

Household Survey Data

In April, the number of unemployed persons was 15.3 million, and the unemployment rate edged up to 9.9 percent. The rate had been 9.7 percent for the first 3 months of this year. (See table A-1.)

Among the major worker groups, the unemployment rate for whites (9.0 percent) edged up in April, while the rates for adult men (10.1 percent), adult women (8.2 percent), teenagers (25.4 percent), blacks (16.5 percent), and Hispanics (12.5 percent) showed little or no change. The jobless rate for Asians was 6.8 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)


http://www.zerohedge.com/article/290k-payrollsadded-unemployment-goes-back-99-underemployment-171

[westerebus]

1. GASP!!!

Who spilled the KOOL AID ? Wait for it....

[golfguru]

2. Figures don't lie

but liers figure.

[ixion]

3. Indeed. I thought the headline from yesterday was odd...

290+ jobs added, jobless increases to 9.9%.

riiiiiight.