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APR 05, 2013 - Zero Hedge

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Unemployment Report Shocks Markets

  The big driver of market declines Friday was led by the Non-Farm Payrolls report. The jobs data was a dreadful miss (88K vs 198K & prior 236K) and the unemployment rate declining from 7.6% from 7.7%. The unemployment rate is misleading since 663K people dropped from the labor force and now total 90 million. The labor force participation rate fell to 63.3% the lowest level since 1979. This leads to the major “disconnect” we’ve been seeing between stock prices and overall economic data which we posted just last week. This is the nagging and confounding reality of the QE and ZIRP ... Read More

Tags: Unemployment Report Shocks Markets,  Stock Market Latest News