Employment Report to be Released on Friday
Posted on Monday, September 3rd, 2007 | In Current Market NewsThis Friday we get one of the most market moving pieces of economic data: The monthly employment report.
The consensus estimate, according to a Barron’s survey of economists, is for jobs growth of 100,000 in August — with a range of as low as 35k and as high as 150k.
I’d be willing to bet that the number will come in somewhere closer to consensus if not above. The Fed, it seems, would prefer not see weak data as that would further pressure them to officialy lower the fed funds rate. Likewise, the Oval Office would prefer to see numbers closer to consensus since the economy is one of the few things that Bush feels he can hang his ten gallon hat on. Even this past Friday he was touting what he saw as overall economic strength during his response to the mortgage crisis.
The unemployment rate, taken from a separate survey, is forecast to creep higher by 0.1 at 4.7%.
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 About Jim Kingsland (http://buttonwood1792.blogspot.com/)
Jim Kingsland a recognized financial blogger whose blog has been lauded in Barrons and is counted among the most popular financial blogs on the web. He is a former news director at Bloomberg and he worked directly with Mike Bloomberg while launching Bloomberg Radio and the expansion of the financial information company into radio and tv media in the 1990s. He has also served in various on-air positions on some of the nation's largest radio stations including 1010 WINS and 1030 WBZ. Jim is presently an editor and derivatives columnist for CNBC.COM. |
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