There are no numbers as closely watched (or politicized) as jobs numbers.This week is jobs week, and it starts today.
First up at 7:30 AM: The Challenger Job Cuts survey. This is usually not much of a market mover, but given the sensitivity right now to weak data, expect this to get some attention. Last month it showed an ominous 5.3% increase in layoffs, so we’ll see if that ticks up.
Then at 8:15 the more closely watched ADP Report. It’s always controversial, because it hasn’t matched up so great with the BLS report, but nonetheless this will get attention. Analysts expect 100K new private sector jobs vs. 157K last month.
Tomorrow, of course, we get the weekly initial claims data. The official expectation is for 405K, up from 398K last week.
And then of course the big show on Friday: Non-Farm Payrolls (AKA The Jobs Report) which was horrible last month, registering just 18K net new jobs.
This month the official expectations are:
- +85K total payrolls
- +115K private payrolls.
- Unemployment at 9.2%.