January Jobs +157K, 7.9% Unemployment Rate « Market Montage

A bit light on the headline number but this number is within the context of a 140M job market so +/- 30K jobs here or there is really negligible.   Unemployment rate up 0.1%.

Lots of revisions, mostly upward but this is a month with annual benchmark revisions so some fog right now on the impact.

Retail, construction (warm winter), healthcare were the job leaders.

Hours flat at 34.4.  Earnings up 0.2% versus 0.3% the previous month.

U-6 flat at 14.4%.

Labor force participation rate flat at 63.6%

Futures were up ahead of this number as some bump in European PMIs.  Not much change in futures from this number.

It seems now we gap up every first day of the month … remember we have ISM Mfg at 10 AM.

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