Biggest NFP MISS in History!! All Updates HERE!

BIGGEST NFP MISS IN HISTORY! No one expected this even in their wildest most evil dreams! May NFP printed a mere +38,000 vs. expectations of +164,000, and down from April's already miserable +123,000 (revised lower from +160,000)!

Everything else missed or was inline at best. Only the U3 unemployment rate beat by falling to 4.7% vs. expectations of 4.9% and down from April's 5%, but this was due to massive shrinkage in the labor force (participation rate fell once again).

The USD is down sharply against all currencies, and precious metals (gold, silver, ect...) are surging. More updates to come.

#Forex #Stocks #Trading #Investing #Economy #Jobs #NFP #Friday #WTF

May's NFP uber miss was not only the largest in history but also puts the key jobs indicator at the lowest since September 2010.

The Fed can forget about a June rate hike...

#Forex #Stocks #Trading #Investing #Economy #Jobs #Money #Friday

Post the epic disaster that was the May NFP report, the greenback is down sharply, and is almost technically back in its bear market. All details included in our charts.

One thing is almost certain: No one in their right mind will be expecting the Fed to hike in June. Rate hike odds crash to nearly 0% again...

Who's having fun in this see-saw?

#Forex #Stocks #Trading #Investing #Economy #Jobs #NFP #Friday

Here's the full story of the just released May NFP report by the BLS that saw the weakest jobs gains in more than 5 years and the biggest miss on consensus expectations ever! Markets are throughly reeling from this massive negative shock.

In May, a paltry 38,000 jobs were added, which was a plunge from April's downward revised 123,000 (previously 160,000).

The change in total nonfarm payroll employment for March was revised from 208,000 to 186,000, while the change for April was revised from 160,000 to 123,000. With these revisions, employment gains in March and April combined were 59,000 less than previously reported. Over the past 3 months, job gains have averaged 116,000 per month, much lows than a year ago.

The household survey was equally bad, with only 26,000 jobs added in May, bringing the total to 151,030. This happened as the number of unemployed persons tumbled from 7,920,000 to 7,436,000, driven by a massive surge in people not in the labor force which soared to a record 94,7 million, a monthly increase of over 600,000 workers.

This caused the U3 unemployment rate to fall from 5% in April to 4.7% in May (4.9% expected) and is the lowest since 2007. Again, this was not because of jobs added but because the labor force shrank in size as a record number of Americans are now outside the labor force — A massive exodus of people from the labor force amounting to 664,000 potential workers that exited the labor force in May. The number of people outside the labor force stood at a record high of 94.7 million in May!

The only silver lining was in wage inflation, where average hourly earnings rose by +0.2% (+0.2% expected), to $25.59. Average weekly earnings also posted a modest 2.3% YoY increase.

Full details from the BLS:

BLS reported that in May a paltry 38,000 jobs were added, a plunge from last month's downward revised 123K (was 160K). The number was the lowest since September 2010!

The household survey was just as bad, with only 26,000 jobs added in May, bringing the total to 151,030K. This happened as the number of unemployed tumbled from 7,920K to 7,436K driven by a massive surge in people not in the labor force which soared to a record 94,7 million, a monthly increase of over 600,000 workers.

As expected Verizon subtracted 35,000 workers however this was more than offset by a 36,000 drop in goods producing workers. Worse, there was no offsetting increase in temp workers (something we caution recently), and no growth in trade and transportation services.

What is striking is that while the deteriorationg in mining employment continued (-10,000), and since reaching a peak in September 2014, mining has lost 207,000 jobs, for the first time the BLS acknowledged that the tech bubble has also burst, reporting that employment in information declined by 34,000 in May.

The change in total nonfarm payroll employment for March was revised from +208,000 to +186,000, and the change for April was revised from +160,000 to +123,000. With these revisions, employment gains in March and April combined were 59,000 less than previously reported. Over the past 3 months, job gains have averaged 116,000 per month.

There is no way to spin this number as anything but atrocious.

The improvement in the household survey ended, with jobs rising just 1.5% Y/Y to 151,030, the lowest annual increase since last November.

The unemployment rate tumbled to 4.7%, the lowest since August 2007, driven entirely by a massive exodus of people from the labor force: 664,000 potential workers exited the labor force pushign the number ouf of the workforce to a record high 94.7 million.

A partial silver lining was in the wage section, which saw average hourly earnings rise by 0.2%, to $25.59, while average weekly earnings posted a modest 2.3% increase.

More details from the report:

Total nonfarm payroll employment changed little in May (+38,000). Job growth occurred in health care. Mining continued to lose jobs, and a strike resulted in job losses in information.

Health care added 46,000 jobs in May, with increases occurring in ambulatory health care services (+24,000), hospitals (+17,000), and nursing care facilities (+5,000). Over the year, health care employment has increased by 487,000.

In May, mining employment continued to decline (-10,000). Since reaching a peak in September 2014, mining has lost 207,000 jobs. Support activities for mining accounted for three-fourths of the jobs lost during this period, including 6,000 in May.

Employment in information declined by 34,000 in May. About 35,000 workers in the telecommunications industry were on strike and not on company payrolls during the survey reference period.

Within manufacturing, employment in durable goods declined by 18,000 in May, with job losses of 7,000 in machinery and 3,000 in furniture and related products.

Employment in professional and business services changed little in May (+10,000), after increasing by 55,000 in April. Within the industry, professional and technical services added 26,000 jobs in May, in line with average monthly gains over the prior 12 months. Employment in temporary help services was little changed over the month (-21,000) but is down by 64,000 thus far this year.

Employment in other major industries, including construction, wholesale trade, retail trade, transportation and warehousing, financial activities, leisure and hospitality, and government, changed little over the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in May. The manufacturing workweek increased by 0.1 hour to 40.8 hours, and manufacturing overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.6 hours.

In May, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents to $25.59, following an increase of 9 cents in April. Over the year, average hourly earnings have risen by 2.5 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents to $21.49 in May.

The change in total nonfarm payroll employment for March was revised from +208,000 to +186,000, and the change for April was revised from +160,000 to +123,000. With these revisions, employment gains in March and April combined were 59,000 less than previously reported. Over the past 3 months, job gains have averaged 116,000 per month.

#Forex #Stocks #Trading #Investing #Economy #Jobs #NFP #Friday

The carnage after today's extremely terrible May NFP report. Rate hike odds (as implied by FF futures) have crashed with June only carrying a jokingly low 2% probability (down massively from 34% 2 weeks ago!), July carrying a 36% probability (down from 48% yesterday!), and September carrying a 26% probability (up from 15% earlier this week).

It would see that the Fed is not expected to hike in June. While we were still holding our ground for. June hike, this utterly disastrous NFP print was the final nail in the fateful coffin — We are officially expecting a shift in the Fed's stance; more dovishness and ultra caution.

The market reaction was to be expected. Massive weakness in the USD, leading to explosive upside in the precious metals and USD crosses, downside in treasury yields and that of up-in-quality names, great volatility in stocks with financials lagging...

The Fed has hereby tossed the market around like a baby doll; dumping, pumping, and then dumping expectations of more monetary policy tightening. It's downright brutal!

#Forex #Stocks #Trading #Investing #Economy #Gold #FOMC #NFP #Jobs #Friday

Largest NFP Miss Ever Kills June Fed Hike

When we first saw the 38,000 print, we thought it was an error with our news feed. But no, the U.S. economy added only 38,000 non-farm jobs in May, the lowest since September 2010, and the biggest miss on record. It's really hard to overstate how morbidly bad May's payrolls were. It is, however, commensurately easy to kiss a June rate hike by the Fed a sweet goodbye.

Everyone was shocked. We were definitely shell shocked, because we couldn't believe just how bad the numbers were. Neither could the markets.

Flash crashes and surges sprouted the instant the first HFT algos recognized that it was really an epic disaster. Yes, here we are 5 days late to reporting on this monumental event; but you see, we have more to bring to the table, now that 3 trading days have already passed for the dust to settle.

READ ALL HERE:
http://www.businessoffinance.com/sni...-june-fed-hike

READ THIS BEFORE YOU TRADE:

Largest NFP Miss Ever Kills June Fed Hike

When we first saw the 38,000 print, we thought it was an error with our news feed. But no, the U.S. economy added only 38,000 non-farm jobs in May, the lowest since September 2010, and the biggest miss on record. It's really hard to overstate how morbidly bad May's payrolls were. It is, however, commensurately easy to kiss a June rate hike by the Fed a sweet goodbye.

Everyone was shocked. We were definitely shell shocked, because we couldn't believe just how bad the numbers were. Neither could the markets.

Flash crashes and surges sprouted the instant the first HFT algos recognized that it was really an epic disaster. Yes, here we are 5 days late to reporting on this monumental event; but you see, we have more to bring to the table, now that 3 trading days have already passed for the dust to settle.

READ ALL HERE:
http://www.businessoffinance.com/sni...-june-fed-hike

Fed & BoJ To Troll Markets This Week

There's never been a central bank more thuggish than the Fed. First, it delayed hiking rates by more than 11 months, only doing so once in December by a tiny 25bp. Remember the vicious cycle of "promising to hike, only to scare markets into a drawdown, refusing to hike, therefore talking markets into a rally" we have been taught by the Fed to abide by?

Yup, that's exactly what Yellen and company have really been enjoying doing for the last 6 months and counting, showing no intentions of quitting this addictive habit.

We've been documenting this since the nonsense started many months back. With each passing FOMC meeting (already 4 have passed this year), and with every twist and turn of the macro economic grade book, the markets have rallied and tanked in a vomit-including clusterf***, in the process trolling traders and screwing investors' portfolios.

READ MORE: http://www.businessoffinance.com/sni...kets-this-week