February Jobs Report: Beefy

Nothing not to like in this month’s make-believe economic report that will be revised seven times before finally being put to bed sometime in the future. It stands in stark contrast to the January disappointment, which goes to show that, well, nothing matters.

Either way, the taper’s on for the March FOMC meeting. It probably was anyway, but now nobody’s going to bitch about it.

Some stats:

* Headline number was 175,000 – that’s versus consensus expectations of 149,000 and January’s paltry 113,000. Keep in mind, we’re talking about a labor force of over 150 million, so these changes of 10k or 20k jobs aren’t relevant in real life, only amongst financial commentators and chief economist types. But we play along because the market sometimes does.

* Unemployment rate ticked up slightly to 6.7% from 6.6%. Whatever.

* This was the cool news – average hourly earnings had a 0.4% increase, a jump more than double the expectations. Hourly earnings growth is now running at 2.2%, which is very good for the real economy. It means better confidence, spending, etc. Wages (in real terms) have been stagnant for US workers for a decade – a trend change in this area is quite welcome.

* Unemployment amongst college graduates is now 3.4%. That’s as close to full employment as you get for the “knowledge economy”, hopefully this will continue to translate to a rise across the rest of the workforce but at an improved pace this year.

Okay, that’s all I got on that. Carry on.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. Making Money Online commented on Sep 22

    … [Trackback]

    […] Find More Information here to that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  2. immediate edge review commented on Sep 22

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  3. blazing trader review commented on Oct 03

    … [Trackback]

    […] There you can find 4570 additional Info to that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  4. buy axiolabs steroids commented on Nov 14

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  5. algebra help commented on Nov 23

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  6. DevOps consultants commented on Nov 27

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  7. wigs for women commented on Dec 31

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  8. best fitness franchise commented on Jan 02

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  9. tangerine online log-in commented on Jan 16

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]

  10. cheap wigs commented on Jan 24

    … [Trackback]

    […] There you will find 97553 additional Information on that Topic: thereformedbroker.com/2014/03/07/february-jobs-report-beefy/ […]