Important Jobs Number Worse than Expected

The economy created 96,000 jobs last month, significantly below the consensus estimate of 125,000-140,000. The ADP private payroll report number, which is considered a guide for how the official jobs number will go in any given month put the number at 210,000. Whoops.

The unemployment rate dipped .2% to 8.1%. Good news right? Nope. It dropped because people are just checking out of the job force.

But the pre-market movement isn’t strongly down at this moment. Why?

Because the bad jobs number makes is even more likely that Bernanke will act soon and the Street likes it when Ben opens the monetary floodgates.

Bad economic news is good news for the stock market these days. We are now completely and totally addicted to Quantitative Easing.

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About Nick Sorrentino

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Nick Sorrentino is the co-founder and editor of AC2NEWS.com and AgainstCronyCapitalism.org. He is also the founder of TheSorrentino.com. A political and communications consultant whose clients have spanned the political spectrum, his work has been featured at Chief Executive MagazineReason.com, NPR.com, Townhall, The Daily Caller, and many other publications. He has spoken at CPAC, The Commit Forum, The Atlas Summit, The US Chamber of Commerce, The National Press Club, and at other venues. Sorrentino is the Founder of Exelorix Consultants and a senior fellow at Future 500. He is also the author of the book Politicos, Predators, Payoffs, and Vegan Pizza. A graduate of Mary Washington College he lives just outside of Washington DC where he can keep an eye on Leviathan.