“U.S. stock futures quickly pared gains Friday after a worse-than-expected nonfarm payrolls report,” Andrea Tse reports for TheStreet. “‘There is nothing good in this report,’ said David Ader, strategist at CRT Group, soon after the report was released Friday.

“The Bureau of Labor Statistics said Friday that 96,000 jobs were added to the U.S. work force in August, far below the addition of 125,000 jobs that economists were expecting. Meanwhile, the report showed that the unemployment rate edged down to 8.1%; economists had expected the unemployment rate to stay at 8.3%,” Tse reports. “In August, average hourly earnings for all employees on private nonfarm payrolls edged down by 1 cent to $23.52. Hourly earnings were forecast to have risen 0.2%.”

Tse reports, “Amazon on Thursday launched a host of new Kindle Fire and Kindle products. Amazon’s new Kindle Fire HD family is an attempt to take market share from Apple’s iPad. Apple is in talks to license music for a custom-radio service similar to the one operated by Pandora Media, according to people familiar with the matter, The Wall Street Journal reported.”

MacDailyNews Note: See: Apple in talks to create Pandora rival – September 7, 2012

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Lucia Mutikani reports for Reuters, “Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday. While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work.”

“‘This weak employment report, in jobs, wages, hours worked and participation is probably the last piece the Fed needs before launching another round of quantitative easing next week,’ said Joseph Trevisani, chief market strategist at Worldwide Markets in Woodcliff Lake, New Jersey,” Mutikani reports. “The economy has experienced three years of growth since the 2007-09 recession, but the expansion has been grudging and the jobless rate has held above 8 percent for more than three years — the longest stretch since the Great Depression.”

“The weak tenor of the employment report was also emphasized by revisions to June and July data to show 41,000 fewer jobs created than previously reported. In addition, the labor force participation rate, or the percentage of Americans who either have a job or are looking for one, fell to 63.5 percent — the lowest since September 1981,” Mutikani reports. “A total of 368,000 people gave up looking for work in August, the household survey showed.”

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MacDailyNews Note:

We are not expecting the economies in Europe or the natural resource based countries including Australia, Brazil and Canada to improve from what we saw in the June quarter… We saw no obvious evidence of the economy impacting our sales in China in the June quarter or in the U.S., but we are reading the same things that you all are about these economies. So we will have to see.Apple CFO Peter Oppenheimer responding to analyst during Q312 earnings conference call, July 24, 2012