gumnam, the whole employment report was a mirage the numbers were cleverly manipulated.
Just some simple math.
Market expected a fall in the range of -15,000 to - 25,000.
The report indicated + 57,000 (prone ot revisions)
LAst month was revised from -93,000 to - 45,000 and increase of +48,0000
As such there were + 12,000 jobs added over 2 months.
But in another measure the BLS removed a total of -150,000 jobs from the economy, which brings us back to - 130,000 jobs.
Going back to the -93,000 reported in September and add an anticipated loss of -25,000 jobs you arrive at - 118,000 jobs.
Conclusion the job market has not improved as the BLS would like to project. With the adjustment the job market actually lost additional -12,000 jobs over the reported period.
Now to the FX subject I know that FX traders "do not have time" to read reports in depth and go by headlines.
Interestingly was the Sept. 29 rumor of a Soros adviser who helped his friend bail out.
As to the real world - the last thing the world economies need now is FX volatility. It only adds an additional burden and expenses on corporate meager profitability.
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bls.gov
Both total employment (137.6 million) and the employment-population
ratio (62.0 percent) were about unchanged in September. The employment-
population ratio was down by 1.0 percentage point over the year. Both the
civilian labor force, 146.5 million, and the labor force participation
rate, 66.1 percent, also were little changed in September. (See table
A-1.)
The number of persons who worked part time for economic reasons rose
in September to 5.0 million, seasonally adjusted. These persons indicated
that they would like to work full time but worked part time because their
hours had been cut back or because they were unable to find a full-time
job. The total number of persons at work part time, including both the
economic and noneconomic categories, was essentially unchanged at 24.0
million. (See table A-5.)
Persons Not in the Labor Force (Household Survey Data)
In September, 1.5 million persons were marginally attached to the labor
force, about the same as a year earlier. (Data are not seasonally adjusted.)
These individuals wanted and were available to work and had looked for a job
sometime in the prior 12 months. They were not counted as unemployed, how-
ever, because they did not actively search for work in the 4 weeks preceding
the survey. Of the 1.5 million, 388,000 were discouraged workers--persons
who were not currently looking for work specifically because they believed
no jobs were available for them. The number of discouraged workers in
September was about the same as a year earlier. The other 1.2 million
marginally attached had not searched for work because they were in school
or had family responsibilities. (See table A-13.) |
