Today, tomorrow, and Friday there will be plenty of well known labour data coming out.
For example, today we get the ADP report and Challenger. Tomorrow is initial claims. And then Friday is the Non-Farm Payrolls report.
Also, today we get a report that’s not officially about “labour” but is close enough.
Check out the relationship between initial jobless claims (flipped) and monthly auto sales.
Not only do they move in the same direction at the same time, there are even several instances where a minor blip in one is associated with a sharp move in the other.
If today’s January car sales numbers look good, then watch out.
And just for fun, here’s car sales vs. the inverse of the unemployment rate. Similar story.