jobless rate 10.2%

zpwang

Prior        Consensus        Consensus Range        Actual
Nonfarm Payrolls - M/M change        -263,000         -175,000         -200,000  to -55,000         -190,000
Unemployment Rate - Level        9.8 %        9.9 %        9.9 % to 10.1 %        10.2 %
Average Hourly Earnings - M/M change        0.1 %        0.1 %        0.1 % to 0.3 %        0.3 %
Average Workweek - Level        33.0 hrs        33.1 hrs        33.0 hrs to 33.1 hrs        33.0 hrs

ksd9235

10% is expected

ranchgirl

Does it mean as expected?

ranchgirl

U.S. jobless rate climbs to 10.2 percent

WASHINGTON (Reuters) - U.S. employers cut a deeper-than-expected 190,000 jobs in October, government data showed on Friday, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.
Reuters - Unemployed clerical worker Mayre Milo searches for a job at the California Employment Development Department in San Francisco, ...

Reuters - Unemployed clerical worker Mayre Milo searches for a job at the California Employment Development Department in San Francisco, ...

The Labor Department said the unemployment rate was the highest since April 1983. It revised job losses for August and September to show 91,000 fewer jobs lost than previously reported.

Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September.

The labor market is being watched for signs whether the economic recovery that started in the third quarter can be sustained without government support. The economy grew at a 3.5 percent annualized rate in the July-September period, probably ending the most painful U.S. recession in 70 years.

Payrolls have declined for 22 consecutive months now, throwing 7.3 million people out of work since December 2007, when the recession started.

However, the pace of layoffs has slowed sharply from early this year, when nearly three-quarters of a million jobs were lost in January. In October, job losses were across almost all sectors, with education and health services and professional and business services bucking the trend.

Manufacturing employment fell 61,000 last month, while construction industries payrolls dropped 62,000.

The service-providing sector cut 61,000 workers in October and goods-producing industries slashed 129,000 positions. Education and health services added 45,000 jobs, while government employment was flat.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

AGA7d

Will go to 12% at least, with actual to 20%.

Though gov's stimulus money are actually putting to work now (goes to state and local level for various projects) , the hiring may not offset the loss in small business. Once the money run out, another wave of job loss will come - unless - the gov keep stimulating and stimulating.

The small business sector is in stress, just look at CIT and the Obama's plea for more loans to the small biz. It is not easy to open a biz, so owners usually struggle till the last. The env is tough and will stay tough for a long time, so we will see more job loss there.

realgood

One explanation for high jobless rate is that due to economic recovery more people are coming back to look for jobs. It may not be a bad news.

xiaoshitou

joke

colderdown

6# realgood


what?

Cobra

One explanation for high jobless rate is that due to economic recovery more people are coming back to look for jobs. It may not be a bad news.
realgood 发表于 2009-11-6 09:10

Hmm, that's really a good one.

olderfrog

nice, we will just have to wait patiently till all those job-seeking losers leaving disappointed and empty handed in couple months, the unemployment rate will go down sharply and we will reach full employment status in no time :|o|:

6# realgood

bobcat

其实即使没有金融风暴，从长期看，失业率也会越来越高。各国都会如此。因为生产力的高度发展与自动化，
社会不需要那么多人工作了。譬如中国投资基建刺激经济，但基建创造的就业机会很少。科技的高度发展也使得
越来越少的人能从事前沿工作，不可能像马克思认为的那样每人做少量的研究、创造性的工作。必定是少数人做大部分工作。
所以今后主要问题是财富再分配问题，如何使不工作的人获得合理的分配，也算是马克思的按需分配吧？
一位美国学者曾开玩笑说：“共产主义就是极少数人工作，绝大多数人持股在海滩上晒太阳。”
中国失业问题严重，媒体开始造舆论，谈在家抚养教育子女的重要性。

Cobra

其实即使没有金融风暴，从长期看，失业率也会越来越高。各国都会如此。因为生产力的高度发展与自动化，
社会不需要那么多人工作了。譬如中国投资基建刺激经济，但基建创造的就业机会很少。科技的高度发展也使得
越 ...
bobcat 发表于 2009-11-6 14:17

很有道理的样子哈。所以现在不是在说，没有就业，经济照样复苏嘛。

realgood

I live in the Silicon Valley. To my knowledge, many companies are starting to hire people. Recently some friends of mine called me for help in finding engineers in data center.

dara

One explanation for high jobless rate is that due to economic recovery more people are coming back to look for jobs. It may not be a bad news.
realgood 发表于 2009-11-6 09:10

The unemployment rate rose to 10.2%, higher than expected and the highest rate since 1983. The labor force shrank by 31,000 which means the unemployment rate did not spike because of a surge of workers reentering the pool, as often occurs near turning points.

watchdog

The unemployment rate rose to 10.2%, higher than expected and the highest rate since 1983. The labor force shrank by 31,000 which means the unemployment rate did not spike because of a surge of  ...
dara 发表于 2009-11-6 14:28

good comment.

dara

good comment.
watchdog 发表于 2009-11-6 14:47

I copied it from yahoo finance. There has the detail report.

http://finance.yahoo.com/tech-ti ... -Year-High?tickers=^DJI,^GSPC,SPY,DIA,XLF,GLD,TBT&sec=topStories&pos=9&asset=&ccode=

stonehorse

Thanks

realgood

Discussions of job reports will not help short-term swing trading. Just follow the trend like daily EMA20.

czm

Yes, follow the trend.
So, good, the Silicon Valley is recovering! I live in Dallas area and have not had any big sign of high jobless rate. How bad is it out there on the east coast or in your town?

czm

[zt]美国10月失业率攀升至10.2% 创26年新高
劳工部表示，上月非农就业人数下降了19万人，低于上月的21.9万人，但高于17.5万人的市场预期。十月份失业率从九月份的9.8%上升至10.2%，创自1983年4月以来新高。
Lind-Waldock期货经纪公司资深市场策略师Jeffrey Friedman认为就业报告令人不安。他表示，“企业仍在裁员，10.2%的失业率已经很高，而实际失业率可能更高。”但一些分析师因临时工数量增加而变得乐观。公司在恢复对经济的信心之前通常会首先雇用临时工来满足需要。Federated Investors证券市场策略师Linda Duessel指出，非农就业人数通过在临时工数量开始增加四个半月后出现回升。她表示，“我们一直在等待临时工数量的增长，而现在终于增长了，这很好。”
SCM Advisors首席策略师Max Bublitz指出，“失业率创26年新高，意味着美联储将继续维持低利率政策不变。”
美股周五小幅上扬，虽然因十月份就业报告低于预期，但也显示出企业裁员速度有所减缓。
将于下周公布的经济数据较少，最重要的可能是周五的消费者信心指数报告。

欧洲股市涨跌不一,银行股普涨. Brewin Dolphin机构首席市场策略师麦克-伦霍夫(Mike Lenhoff)表示, “自从今年3月份以来市场上就形成了这种交易模式，而美联储承诺将在较长一段时间内维持低利率的承诺又强化了这种模式。今天美国劳工部的非农就业数据，很明显的支持了美联储在劳动力市场状况好转之前维持现行利率不变的立场。”

纽约商业交易所交易最活跃的黄金合约：12月合约上涨6.4美元，收于 1095.7美元/盎司，涨幅为0.6%。盘中12月合约的最高值为1101.9美元，最低为1086.5美元。本周交易中金价上涨约5.3%。Van Eck国际黄金投资基金的经理人乔-福斯特(Joe Foster)表示：“由于失业率已突破10%，联储已经被缚住手脚，他们无力护卫美元。未来我们会看到金价多次创下历史新高。至今年底时，金价上探 1200美元不会让我们感到惊讶，进入明年后金价在稍作调整后直指1300美元也没有什么好奇怪的。”