Goldman were right – US employers cut jobs in January.
Payrolls fell by 20,000, significantly more than economists had forecast, according to figures released by the Bureau of Labor Statistics on Friday afternoon.
The consensus was for a rise of 5,000, according to Reuters. (Goldman forecast a loss of 25,000).
Payrolls for January were revised to a loss of 150,000, from a loss of 85,000 previously. The jobless rate was 9.7 per cent, versus 10 per cent in December.
Here’s the rest, via Reuters:
U.S. JAN AVERAGE HOURLY EARNINGS +0.3 PCT (CONS +0.2) VS DEC +0.2 PCT, TO $18.89 VS DEC $18.84
U.S. JAN YEAR-ON-YEAR AVERAGE HOURLY EARNINGS +2.5 PCT
US JAN AVERAGE WORKWK 33.3 HRS (CONS 33.2) VS DEC 33.2, FACTORY 40.8 VS 40.6, OVERTIME 3.5 VS 3.4
U.S. JAN FACTORY JOBS +11,000 (CONS -20,000) VS DEC -23,000 (PREV -27,000)
U.S. JAN GOODS-PRODUCING JOBS -60,000, CONSTRUCTION -75,000
U.S. JAN SERVICE-PROVIDING JOBS +40,000, RETAIL +42,000, GOVT -8,000, CENSUS ADDED 9,000 TEMPORARY JOBS
U.S. JAN AGGREGATE WEEKLY HOURS INDEX +0.3 PCT VS DEC UNCH
US NOV NONFARM PAYROLLS REVISED TO +64,000 FROM +4,000, OCT REVISED TO -224,000 (PREV -127,000)
ANNUAL REVISION CUTS 902,000 JOBS FROM MARCH 2009 LEVEL VS. EARLY OCT. ESTIMATE OF 824,000
ANNUAL REVISIONS CUTS 930,000 JOBS FROM MARCH 2009 LEVEL ON A SEASONALLY ADJUSTED BASIS
U.S. JOB LOSSES FROM APRIL-DECEMBER 2009 A CUMULATIVE 433,000 MORE THAN PREVIOUSLY ESTIMATED
RTRS-US PAYROLL JOB LOSSES SINCE RECESSION BEGAN IN DEC 2007 TOTAL 8.4 MILLION
US FACTORY JOBS IN JAN RISE FOR FIRST TIME SINCE JAN 2007, AVERAGE WEEKLY HOURS HIGHEST SINCE AUG 2008, OVERTIME HIGHEST SINCE SEPT 2008
Full report can be found here.