6th Jan - Fri Close & Payrolls

December US employment report was probably the most over-expected and over-interpreted number in years because of several things: 

1. Expectations had built up for a large increase in jobs because of good weekly figures, even given the fiscal cliff threat and Sandy's aftermath. 
2. The Fed's minutes made it clear that there will be an end to the money printing at some point, and employment report plays a big part in the timing of this event.

  Markets were somewhat disappointed that not much happened after all - numbers coming in much as expected, showing a slow and weak improvement.  

Previously on MoreLiver’s:                  

4-Jan US Open: Payroll style!

4-Jan EU Open

3-Jan US Close: Fed minute rage

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FRIDAY CLOSE

Roundups and Commentary

News – Between The Hedges

Markets – Between The Hedges

Recap – Global Macro Trading

Roundup – Kiron Sarkar / The Big Picture

Europe: Stocks End Best Week In 5 Months On Sour Credit Note – ZH

US: Vol Dumped; Stocks Pumped; Treasuries... Jumped? – ZH

  PAYROLLS: NEWS

Mediocre job growth points to slow grind for U.S. economy – Reuters

U.S. employers kept their pace of hiring steady in December, falling short of the levels needed to bring down a still lofty unemployment rate and pointing to lackluster economic growth in 2013.

Decent jobs report despite slowdown in hiring pace – Reuters

The pace of U.S. job growth slowed a bit in December, keeping the unemployment rate steady at 7.8 percent, but details of the Labor Department's U.S. employment report were fairly encouraging.

Instant View: December non-farm payrolls rose by 155,000 – Reuters

The pace of hiring by U.S. employers eased slightly in December, pointing to a lackluster pace of economic growth that was unable to make further inroads in the country's still high unemployment rate.

Payrolls in U.S. Keep Growing Even Amid Fiscal Talks – BB

U.S. gains 155,000 jobs in December – MarketWatch

PAYROLLS: BLOGS

Why Flat 7.8% Jobless Rate Isn’t All Bad News – WSJ

Five Takeaways From December Jobs Report – WSJ

Economists React: Good-Not-Great Labor Market – WSJ

When Will the Unemployment Rate Hit 6.5%? Calculate It! – WSJ

Job creation steady in December, unemployment at 7.8% – Wonkblog / WP

The jobs report in six charts – Wonkblog / WP

The December jobs report proves the fiscal cliff deal a farce – Wonkblog / WP

December Employment Report: 155,000 Jobs, 7.8% Unemployment Rate – Calculated Risk

Employment Report Comments and more Graphs – Calculated Risk

Graphs: Unemployment’s duration and education, diffusion indexes – Calculated Risk

Better than expected US December NFP data – The Big Picture

NFP: 20 Years of Net Job Creation – The Big Picture

Employment/Unemployment Pictures – The Big Picture

155,000 Jobs Added in December, Unemployment Rate 7.8% - ZH
Market Response To Jobs Report: USD (And AAPL) Offered; Bonds, Stocks, Gold Bid – ZH

Where The Jobs Are: "55 And Older" – ZH

December payrolls: +155,000, unemployment rate 7.8 per cent – alphaville / FT

One more thought on the payrolls report – alphaville / FT

Unemployment Rate Revised Up, Flat Since September – Mish’s

December Payrolls by Industry – The Reformed Broker

US Labor Dept Says Private Sector Jobs Rose 168k In December – The Capital Spectator

Good, Bad, Indifferently Bad, Take Your Pick – naked capitalism

Labour market healing continues – Danske Bank (pdf)

Unemployment Unchanged at 7.8 Percent, Economy Adds 155,000 Jobs – CEPR

Employment Report Nothing If Not Consistent – Tim Duy’s Fed Watch

U.S. Employment Situation December 2012 – Global Macro Monitor

The curious predictability of the payrolls report – Felix Salmon / Reuters

Happy New Year to Those with Jobs – Surly Trader

Jobs' Details Better than Headline – Marc to Market

The Least Anticipated Jobs Report Of All Time Comes In Exactly As Expected – BI

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