Employment ReportJan 4 2013
Change in Nonfarm Payrolls + 155k vs. 152k
Change in Private Payrolls +168k vs. 155k
Change in Manu Payrolls +25k vs. 4k
Unemployment Rate 7.8 % vs. 7.7% (unrounded basis 7.849)
Avg Hourly Earning MOM .3 % vs. .2%
Avg Weekly Hours 34.5 vs. 34.4
Numbers are on point to slightly worse than expected. Mortgages and USTs are rallying a little and current coupon is down 7/32nds from yesterday’s close. No major reaction from the equity markets which are basically unchanged overnight.