Government is reporting:
According to the Labor Department numbers released today (Friday), employers increased headcount by 204,000 in October, handily beating the 120,000 many economists expected. The government report also showed revisions to late summer numbers, revealing an extra 60,000 jobs total were created in August and September.
Although the October report included the robust 204,000 number, it was full of uninspiring data:
•The labor force participation rate continues to drop. It slipped to 62.8% from 63.2%, last month, the lowest read since March 1978. An astonishing 932,000 - nearly 1 million Americans - dropped out of the labor force last month, bringing the rate to a fresh 35-year low. It marks the third-highest monthly increase in individuals leaving the labor force in U.S. history. "At this pace, the people out of the labor force will surpass the working Americans in about 4 years," writes ZeroHedge.
•October job gains were highest among the lowest-paying sectors. These are actually are a "net drag" on the economy, according to The Wall Street Journal, due to the amount of assisted government benefits these workers receive. A University of California, Berkley, and University of Illinois study found front-line workers at fast-food restaurants, and their families, received at least $7 billon annually in public benefits to supplement their wages.
•The federal government continued to trim workers, cutting 12,000 (one-third of which were at the U.S. Postal Service). That brings the year-to-date total to 94,000. Excluding the postal service, the October report showed federal jobs at the lowest level since 2009.
•Plus the damage congress will do very soon could be another shutdown, the FED would be nuts to taper which will add to the deceleration.
204,000 jobs created but, what they don't tell you, 720,000 left the work force. A net loss of 516,000 jobs. Lowest participation rate in 38 years. Plus congress will do as much damage to the economy as they can this next round and continued QE may not be able to help.
At FINVIZdocCOM it is $5.95 per share [mrq]. Note: The Tom Dorsey message on Seeking Alpha said that ARR has reduced their exposure to the increasing volatility in the mortgage and t-note markets.
Book value reported at FINVIZdotCOM is $5.95 per share (mrq). Why do some think it is $2.85? What type of calculation is that? Sounds more like a cash value per share not book value per share.