The Labor Department reported this morning that the nation's payrolls contracted by a net total of 95,000 in September. The latest rounds of layoffs from the government trumped what hiring was done in the private sector, leading to the rather nasty number.

According to the Labor Department, local governments jettisoned 76,000 jobs last month -- most of them in education. This cut was the largest by local governments in 28 years. Also, 77,000 temporary census jobs ended in September. Offsetting these two figures somewhat was the private sector, which added 64,000 last month.

Continue reading Economy Loses 95,000 Jobs but Markets Open Higher

Economy Loses 95,000 Jobs but Markets Open Higher originally appeared on BloggingStocks on Fri, 08 Oct 2010 09:40:00 EST. Please see our terms for use of feeds.

Stocks stumbled dramatically lower on Friday, pressured primarily by the Labor Department's disappointing nonfarm payrolls report. Options traders took out their frustration on a likely suspect: job-listings specialist Monster Worldwide (MWW), which garnered a glut of bearishly biased volume on Friday.

During the course of the session, in fact, put activity surged to 17 times the expected level on MWW, with 6,265 contracts crossing the tape. Most active was MWW's June 12.50 put, where 5,308 contracts changed hands. About 78% of these puts traded at the ask price, indicating they were purchased. Open interest at this out-of-the-money put rose over the weekend by 4,756 contracts, confirming that new bearish bets were added here on Friday.

Continue reading Downbeat Jobs Data Sparks Put Buying on Monster Worldwide

Downbeat Jobs Data Sparks Put Buying on Monster Worldwide originally appeared on BloggingStocks on Mon, 07 Jun 2010 12:40:00 EST. Please see our terms for use of feeds.

Several factors converging on the metals markets are causing a sell off.

First, China has taken steps to curb bank lending. Much of the Chinese stimulus money has gone into the purchase of raw materials. Now, with things cooling down, traders are less willing to stockpile base metals.

Second, U.S. payrolls fell by 20,000 last month, indicating sluggishness in the U.S. economy.

Continue reading Copper Leads a Sell Off in Base Metals

Copper Leads a Sell Off in Base Metals originally appeared on BloggingStocks on Fri, 05 Feb 2010 14:00:00 EST. Please see our terms for use of feeds.

Wednesday morning, the ADP index announced that private-sector firms shed 84,000 jobs in December.

Although this was the fewest jobs lost since March 2008, December marked a 23rd-straight month where jobs were lost. Looking back at the number of jobs lost during November, ADP revised the number lost to 145,000 from the original 169,000. Remember, the ADP index does not take government jobs into account.

Continue reading Private Sector Sheds Only 84,000 Jobs in December

Private Sector Sheds Only 84,000 Jobs in December originally appeared on BloggingStocks on Wed, 06 Jan 2010 12:20:00 EST. Please see our terms for use of feeds.

Here's a great surprise: Job losses slowed dramatically in May.

Let's look at the numbers:

• Non-farm payrolls dropped 345,000. Economists had expected a drop of 525,000.
• The economy has lost 6 million jobs since December 2007.
• The unemployment rate jumped to 9.4%, the highest since August 1983.
• Economists expect to see 10% unemployment soon.

Continue reading Payrolls dropped by only 345,000 in May

Payrolls dropped by only 345,000 in May originally appeared on BloggingStocks on Fri, 05 Jun 2009 10:20:00 EST. Please see our terms for use of feeds.

Continue reading Oil prices move back higher today

Oil prices move back higher today originally appeared on BloggingStocks on Fri, 02 Nov 2007 13:32:00 EST. Please see our terms for use of feeds.