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March 4, 2005
February U.S. Jobs Report
In a couple hours, the very important U.S. Jobs Report will be posted. To get up to speed, all traders must review this material at Briefing.com.
The consensus estimate that has been factored into equity prices is 225,000 net new non-farm jobs, 5.2% unemployment, and 0.2% employee earnings growth. Briefing.com is forecasting 210,000 non-farm payrolls, 5.3% unemployment, and +0.3% earnings.
In terms of an over/under number for significant market correction, I think a minimum 170,000 net new jobs is required. Yesterday I had an obvious typo, which I subsequently corrected.
In any event, this is an important number for both bulls and bears in the market.
Rather than spend much time noodling on the spin to come from the CNBC panel, try just sticking to the Briefing.com notes, and observe the market's reaction in terms of price direction, noting of course that for the first 30 minutes or so there are often head fakes thrown at us by Big Money players.
Posted by Posted by Bill Cara on March 4, 2005 06:33:49 AM | Category: Economics