The headline numbers for jobs report was much stronger than expected with nonfarm payrolls for the month of December growing 200,000. The previous two months were revised lower by only 3,000. Private payrolls grew a healthy 212,000 in December while the previous two months were revised lower by 20,000.
In the Household survey, the unemployment rate fell from 8.66% to 8.51% as the number of employed persons rose 176,000, and the number of persons reporting as "not employed" dropped 226,000.
Overall this was a positive report reflecting job growth moving in the right direction. It seems the sock and bond markets were disappointed in the results, however, as bond prices are slightly higher, meaning interest rates have fallen a few basis points, while stocks are trading lower on the day. Mortgage prices are .125% to .25% better than the close on Thursday.
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