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However the -11K jobs was a surprise but again who knows how true it is and what it will revised to in 6 months.  The government likes to play with numbers due to seasonality, and we’ll see how accurate this number is about this time in 2010.

Things I am looking at are (1) temporary job force growth and (2) hours worked.  The latter jumped from record low 33.0 hours to 33.2 which is a positive, as that is the high end of the range hours worked has been stuck in for many months.

On the negative side the workforce participation rate, already at a record low last month contracted yet again… which is amazing.

So with 1 million Americans about to be hired as census takers in 2010, it appears there is no need for stimulus, more government handouts in the housing market, and we can reverse all these emergency measures.  Right?

Remember… as I’ve been saying, I think this market actually wants bad news not good news.  The knee jerk reaction is up but let’s see how it works in the interim as the only thing this stock market knows now is bad news = free money.  One data point means little to the Fed, especially one that gets revised 6 times to Sunday – but as a speculator I want to see how markets respond to the “threat” of easy money being taken away earlier than they anticipated.

Either way, this is a relative figure… 10% = 14% if we still measured unemployment as we did pre early 1990s.  And with workforce participation at record lows, in theory all these people detached from the work force should be re-entering as they hear the “good news”.

Let’s see if we can escape day 18 in “the box” as investors who are living on Federal Reserve free money contemplate the fact they might actually have to think of another trade.  Or if they just dismiss this as 1 random data point.