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U.S. Jobless Rate Down to 8.3%, Nonfarm Payrolls Up by 243K

Published on 2/3/2012 1:40:28 PM | By TradingEconomics.com, U.S. Bureau of Labor Statistics

Total U.S. nonfarm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics Total U.S.nonfarm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported on February 3rd. Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing.

http://www.tradingeconomics.com/united- ... yment-rate

Most people don't take much notice of the U.S. Bureau of Labor Statistics Bull.

Yes the payrolls figure certainly moves the markets when it's released (as somebody who has had an open position at 0830 on the first Friday of the month I have felt the pain, been there have the scars etc), but it's only an estimate, and not a very good one at that.

Morris wrote:Most people don't take much notice of the U.S. Bureau of Labor Statistics Bull.

Well people do tend to believe that which they want to believe don't they.

It's not that. Do a little research though, the stats are very unreliable.

As I say, they move the markets, buts that's about all.

Morris wrote:It's not that. Do a little research though, the stats are very unreliable.

As I say, they move the markets, buts that's about all.

So people are prepared to risk their money on historically unreliable made up statistics but still don't actually believe them?

Bull, the market is the market, traders don't care if the data is meaningful, only that it moves the markets...

Here's a great example...

"Soybeans were sharply higher. There was a drought in the Illinois soybean belt. And unless it ended soon, there would be a severe shortage of beans...

Suddenly a few drops of water slid down a window.

"Look" someone shouted, "Rain !".

More than 500 pairs of eyes (the traders) shifted to the big windows.. Then came a steady trickle which turned into a steady downpour. It was raining in down town Chicago.

Sell. Buy. Buy. Sell. The shouts cascaded from the traders lips with a roar that matched the thunder outside.
And then the price of Soybeans began to move slowly down. Then the price of soybeans broke like some tropic fever.


It was pouring in Chicago alright, but no-one grows soybeans in Chicago. In the heart of the soybean belt, some 300 miles south of Chicago the sky was blue, sunny and very dry. But even if it wasn't raining in the soybean fields, in was in the heads of the traders, and that's all that counts.
To the market, nothing matters unless the market reacts to it.

The game is played with the mind and the emotions."

- the New Gatsbys, Bob Tamarkin.