S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Jobs

Payrolls Data Positive, Overall Net-Neutral Bias on Employment

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published

Invalid Image
Market participants now have the awaited data from the U.S. Labor Department on February unemployment and payrolls.  The official unemployment rate came in at 8.3%. The target from Bloomberg and other sources on the official unemployment rate to be 8.3%.

As far as non-farm payrolls, those grew by a reading of 227,00 for the month of February.  Bloomberg had a consensus estimate of 204,000 for non-farm payrolls and CNBC cited a consensus in non-farm payrolls figure of 210,000 for its estimate.

The number of total private sector payrolls, which kicks out government workers, came in at 233,000 for February versus the Bloomberg consensus estimate of 220,000.  The preliminary report in January was 257,000.

Average hourly earnings came in at +0.1% versus the Bloomberg count of +0.2%.

Today’s data is good, but probably not enough alone to drive a powerful day unless the positive revisions (which are not listed here) are included in the above-consensus data.

JON C. OGG

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Jon C. Ogg |

Solid Employment Gains Slashing Unemployment Ahead of Fed Schedule

There was a huge surprise from the Labor Department this morning to the upside.  The non-farm payrolls grew by a…

Jon C. Ogg |

The Magic Drop in Unemployment

The U.S. Labor Department has reported on November unemployment and non-farm payrolls this morning on the heels of a weak…

Jon C. Ogg |

Finally, Some Good News in Unemployment

The Labor Department has released its figures for unemployment and for non-Farm Payrolls for the month of March.  The official…

Jon C. Ogg |

Unemployment Preview: How ADP, Challenger and Others May Change Unemployment Expectations

ThinkstockThis is an unusual month because, due to a strange calendar in February, the monthly employment situation report by the…

Jon C. Ogg |

Productivity and Labor Costs Front-Run August Employment Situation

The Labor Department has just released some pre-employment data ahead of Friday’s key employment situation report, but this is a…

Jon C. Ogg |

Chicago PMI Tempers Employment & Growth Hopes

Chicago Purchasing Managers is often used as a leading barometer for overall manufacturing activity in the United States.  If that…

Jon C. Ogg |

Unemployment Gains Aided by Private Sector

The US Labor Department has just released the March unemployment data and the figures around the change in non-Farm Payrolls. …

Douglas A. McIntyre |

Unemployment’s Surprising Drop

The Labor Department is out with its November unemployment rate and the change in non-Farm payrolls.  The official unemployment rate…

Jon C. Ogg |

ADP Foreshadows Worse Jobs Creation & Higher Unemployment… All Over Again

The ADP report comes out on the first Wednesday of each month and sometimes is considered a barometer for each…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806