It's The Economy Stupid: Payrolls, Hourly Earnings, Underemployment

Best Statistic of the Day:  More people have walked on the moon (12) than have scored an earned run on Mariano Rivera (11) in the playoffs (141 innings).

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Change in Nonfarm Payrolls	FEB	165K	236K	157K	119K
Change in Private Payrolls	FEB	170K	246K	166K	140K
Change in Manufact. Payrolls	FEB	9K	14K	4K	12K
Unemployment Rate	FEB	7.9%	7.7%	7.9%
Avg Hourly Earning MoM All Empl	FEB	0.2%	0.2%	0.2%	0.1%
Avg Hourly Earning YoY All Empl	FEB	2.1%	2.1%	2.1%
Avg Weekly Earning YoY All Empl	FEB	34.4	34.5	34.4
Change in Household Employment	FEB		170	17
Uderemployment Rate (U6)	FEB		14.3%	14.4%

 

Wow!  There is just no way around these numbers, they are stronger than moonshine!  It’s a great report and confirmation of improvement in the economy.  It’s a confirmation of the upward move in the market. 

 

Payrolls increased more than forecast in February and the jobless rate unexpectedly fell to a five-year low of 7.7 percent.

 

Employment rose 236,000 last month after a revised 119,000 gain in January that was smaller than first estimated. The median forecast of 90 economists surveyed by Bloomberg projected an advance of 165,000. The jobless rate dropped from 7.9 percent.  Hiring in construction jumped by the most in almost six years.