The jobs numbers were released this morning. Good? No. Here’s what ZeroHedge reports:
January Payolls Big Miss Again At 113K Below 180K Expected, December Unrevised
So much for the hope of either a surge in January jobs, or a massive upward revision in the December print. Moments ago the January jobs number came out and at 113K, it was a huge miss to the expected 180K, but more importantly, the December number which was expected to be revised much higher was virtually unchanged at 75K, compared to 74K originally. The unemployment rate, which has become largely irrelevant, dipped to 6.6% from 6.7%, just so Obama can get the brownie points for fixing the economy. However, judging by the market reaction this is hardly what the traders think.
Let’s see how the mainstream media spins this. There is always the weather to blame, their ace in the hole.