Are you excited?
Today at 8:30 AM the BLS releases the February jobs report.
Analysts are looking for 185K newly created jobs, and an unemployment rate of 9.1%.
Last month was the third disappointment in a row, with only 36K new jobs created (though unemployment fell to 9.0%).
There are rumours of a massive “beat” and some claim that this rumour is behind today’s big market surge.
Bear in mind that we’ve had several strong labour related numbers lately (yesterday’s initial claims report being the latest), so there are high expectations. However, this was the case for all of the recent months. It’s almost a cliche at this point to say the market will be REALLY disappointed if this one flops. Who knows, it might be garbage again, and stocks will shrug if off, especially if it’s perceived that the BLS is losing credibility.
As a refresher, here’s a look at a year’s worth of numbers: