On Friday morning, we get the February Jobs Report.
Wall Street economists are looking for nonfarm payrolls to grow by 235,000, less than the 257,000 jobs that were added in January but a number that would mark the 12th straight month of job gains over 200,000.
But no matter what the number says on Friday, it will probably be revised higher in the future.
In a note to clients ahead of the report, Ian Shepherdson at Pantheon Macroeconomics noted that in each of the last five years, payroll gains in February have been revised higher, with the median revision coming in at 47,000.
“So, whatever we think about the true increase in February payrolls, we have to temper our expectations for Friday’s first stab at the number,” Shepherdson wrote.
You can find our full preview here, and as always we’ll have complete coverage when the numbers drop.
And keep in mind that no matter what happens, it will probably get better.
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