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ECON: Non-Farm Payrolls As Expected, Bond Markets Fighting
Posted to: Micro News
Friday, January 04, 2013 8:45 AM
- Payrolls 155k vs +150k Consensus
- Previous month revised up to 161k from 146k
- Unemployment Rate 7.8 pct vs 7.7 consensus
- Labor force participation rate unchanged
- work-week up .1 hrs, wages up .3 pct vs .2 consensus
- Market reaction has been volatility within a range thus far with both 10yr yields and MBS rallying initially, pulling back to earlier morning weak spots and now hopefully, maybe, kinda, sorta holding that ground and moving back off the lows.
Nonfarm payroll employment rose by 155,000 in December, and the unemployment
rate was unchanged at 7.8 percent, the U.S. Bureau of Labor Statistics reported
today. Employment increased in health care, food services and drinking places,
construction, and manufacturing.
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