Jobs Number Miss: U.S. Adds 74K Jobs in December

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Jan. 10 (Bloomberg) -- Payrolls in December increased at the slowest pace since January 2011, indicating a pause in the recent strength of the U.S. labor market that may have reflected the effects of bad weather. Peter Cook reports on Bloomberg Television’s “In The Loop.” (Source: Bloomberg)

In december, unemployment rate 6.7%. a lot of the reason for that, people leaving the labor force.

These numbers will come locate janet yellen's job.

74,000 is the lowest number we have seen since october 2011. well below our survey of 203,000 . we saw some revisions, november up to 241,000. that was the best month since february.

Something happened between november and december.

Average for all of 2013, 182,000 jobs.

Household survey, 6.7% unemployment.

That drop of 0.3%, 1/3 of that attributable to increase in employment numbers.

2/3 due to a decrease in the civilian labor force of 347,000. down to 62.8% participation rate, lowest in years.

Retail up 55,000, temporary hiring up 40,000. wholesale trade, up 15,000, manufacturing getting 9000. firing, construction down 60,000, government down 13,000, information down 12,000, hollywood, 14,000. our -- average hourly earnings up, year over year 1.9%. hours down to 34.4. some seasonal adjustments to the household survey, they are modest.

The most notable change, october's rate was 7.2%. bottom line, a confusing number for the fed.

Peter cook, wall street trying to figure it out.

Futures up.

You would think with the disappointment on nonfarm payrolls we would not be up.

We were up about .5%, as in the futures up .25%, if we could show the 10 year, big movement.

In at a chart of the 10 year -- an intraday chart of the 10 year, someone just pulled the plug.

If we are not creating jobs, that eradicates the whole notion of taper, the fed might un-taper, a big reaction on the 10 year.

This text has been automatically generated. It may not be 100% accurate.


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