This Friday's Jobs Report Is One Of The Most Anticipated We Can Recall

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Photo: David Tribble via Wikimedia Commons

This Friday we get the February Non-Farm Payrolls report.The NFP report is always a big deal, but the hype surrounding this one seems substantially louder than most.

Here are a few thoughts as to why:

  • Last month’s number was very big, and that instantly created a lot of hype for this one to see if there would be follow-through.
  • The consensus number is over 200K, but there are some real big numbers being predicted. SocGen leads the heap with an estimate of 275K.
  • The strong February auto sales number would indicate a big upcoming number.
  • The ongoing decline in initial claims also augurs for a big number.
  • The big stock market run means there’s very little margin for error, and people are wondering if a correction is inevitable.
  • While there’s a general view that the economy is gaining momentum, some of the data has just been mediocre lately.
  • Because it’s the second Friday of the month, it’s been a longer wait than usual.

The fun for jobs week starts Wednesday when we get the ADP report.

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