This Friday we get the Non-Farm Payrolls report AKA The Jobs Report.
But in the meantime we get some morsels of clues. On Thursday, for example, we’ll get the ADP jobs report, initial jobless claims, and the Challenger Layoffs Report.
Here’s another one that we get today: Motor Vehicle Sales.
This chart, which we’ve shown before, compares change in non-farm payrolls (blue line) with population-adjusted monthly motor vehicle sales (red line). As you can see, the two move together quite nicely (with the exception of the post-9/11 period, when dealers cut rates like crazy).
The number analysts are looking for today is around 13.9 million annualized car sales. That’s your benchmark to know if it was a good, bad, or mediocre month.
The various car manufacturers will be coming out with reports all day. Then the official industry tabulation will come sometime around 2-3 PM.