It's The Economy Stupid: Payroll & Unemployment

 

September Employment Report

 

Change in Nonfarm Payrolls:  103K, the economists prediction was 60K, prior period number was originally 0.0 and now is revised to 57K

Change in Private Payrolls:  137K, the economists prediction was 90K, prior period number was originally 17K and now is revised to 42K

Change in Manufacturing Payrolls:  -13K, the economists prediction was 0.0, prior period number was originally -3k and now is revised to -4K  

Unemployment Rate:  9.1%, the economists prediction was 9.1%, prior period number was 9.1%

Underemployment Rate:  16.5%, and the prior period number was 16.1%    

 

The Nonfarm Payroll number was originally predicted by economists to be around 60K, but as the week wore on the ‘whisper number’ got up to around 90K, the 103K was certainly above expectations and is welcome good news.  The Unemployment Rate is stubbornly sticking at 9.1%.  It is estimated that the Nonfarm Payroll number needs to consistently be above 125K in order to move the Unemployment Rate downward.

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us