NFP numbers are out, and what a awful report. Like we always say, the most important number in this report, is the Labor Force Participation Rate, which came in at 63.2, which is the lowest since August of 1978. The final print came in at 169K jobs added vs. the 179K expected. The prior number of 162K jobs created was revised lower to 104K. The unemployment rate dropped to 7.3% from 7.4%, and that doesn’t come as a surprise with the Labor Force Participation rate. So Taper or No Taper? For now, markets don’t think so, numbers below.