Shore Capital Management LLC

The Jan jobs report is complicated. Market was expecting 0 to 15k jobs growth. Actual number was a jobs loss of -20k. The unemployment rate (U-3) fell from 10% to 9.7%. The U-6 rate fell from 17.3% to 16.5%. Dec jobs loss was revised from -85k to -150k. Dec hours worked revised from 32.3 to 32.8. Jan hours worked 33.9.

The headline number of 9.7% could be a very positive boost to consumer confidence.