Each and every month the markets get to digest new unemployment and payrolls data. While the U.S. Labor Department’s formal report called the Employment Situation is out at 8:30 a.m. each first Friday of the month, there are many reports that aim to telegraph the direction of this ahead of time. The good news for this month is that the market is expecting more positive data. We just hope that the sequestration effects and other ongoing policy measures did not mute things too much.
On Wednesday we have seen that TrimTabs Investment Research estimated that job growth for March was 156,000. That is up from its 100,000 job growth February estimate, but the report shows that actual job growth is significantly weaker than the Labor Department reported in the first quarter and not enough to reduce the rate of unemployment.
At 8:15 a.m. comes the ADP Employment Report, and that is expected to by 205,000 in new payrolls.
On Friday we get the formal report, and those estimates are 193,000 in nonfarm payrolls, but that includes government workers. The private sector payrolls are expected to have grown by 200,000, and the formal unemployment rate is expected to come in flat month-over-month at 7.7%.
It is always interesting when you see public sources accusing data of not looking quite as it seems. Jack Welch called the numbers a blatant lie ahead of the election. TrimTabs did not quite go that far, but that are warning that the job growth so far has been overreported.
The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.