Jobs Disappoint, But Stocks Higher

• Change in Private Payrolls (Jan) M/M 50K vs. Exp. 145K (Prev. 113K)
• Change in Manufacturing Payrolls (Jan) M/M 49K vs. Exp. 10K (Prev. 10K)
• Seasonally adjusted U-6 underemployment 16.1% from 16.6% previously
• Much more importantly, Not-seasonally adjusted U-6 surged from 16.6% to 17.3%!
• The civilian labor force declined from 153,690 to 153,186
• Government workers: from 20,759K to 20,740K
• Labor force participation at 64.2%, the lowest since March March 1984
• Part-time workers for economic reasons: 8,407
• Part-time workers for non-economic reasons: 17,552
• Birth/Death adjustment: -339,000