Here's The Key Thing To Watch In This Morning's Huge Jobs Report

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The big show today obviously comes on at 8:30 AM ET, when the labour Department releases the November jobs report.Generally economic data has been improving — not to mention the stock market — and so expectations are pretty high.

All told, analysts are expecting something around 150-170K new jobs, with about 140K private sector jobs.

But the key thing to watch is actually the public sector, since ongoing weakness at the state and local level remains a huge point of concern. Remember, part of what made the October report so good was that there was 0 public sector job cutting.

If that can continue or reverse, that’s a genuinely positive sign.

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