Economic Analysis: Don’t Get Carried Away with the Poor NFP

OMG!!! This was poor!! The U.S. Economy added only 142,000 new job in August, less than half of the 250,000 we expected. The unemployment rate was down a tad at 6.1 percent. This data is unbelievable! I really mean that. It does not go with any of the other data that has come out and must be an anomaly.

After all, the ADP private sector job report came out at a strong 204,000 new jobs in the same time period. This number, 142,000 will be revised hire next month. However, the fall in the unemployment rate to 6. 1 percent is a positive sign and a reason to be, somewhat, happy. Despite the weak report, he trend shows the number is closer to 200,000 new jobs. Hence, why we are waiting on the revised number.

We are expecting an upward revision next month to come in at 40,000 to 50,000. So sit back, do not panic. At least not yet. At the time of this report written, the S&P 500 is down nearly five points at 1,993.14 and the Dow Jones Industrial Average is down nearly 44 points at 17,025.82.