Worse-Than-Expected October Job Loss

"Nonfarm payroll employment fell by 240,000 in October. Job losses over the last 3 months totaled 651,000. In October, the unemployment rate rose from 6.1 to 6.5 percent, and the number of unemployed persons increased to 10.1 million." -Bureau of Labor Statistics

Economists were expecting 200,000 losses in October and a 6.3% unemployment rate.

Worse Revision
By the way, remember the 159,000 drop in September payrolls? That was worse than the expectation for a 100,000 loss. Today, the BLS revised that number to 284,000.

Real Expectations
Believe it or not, it's possible that the investment community was expecting worse-than-expected data. This could be one of the reasons why stocks have fallen around 10% on Wednesday and Thursday.

Ultimately, expect a decline in stocks today. But don't be surprised if they actually rise.