Today at 7:30am (Central time) the Bureau of Labor Statistics will release the October 2012 Non-Farm Payrolls report.
According to Yahoo Finance, the market is forecasting a U-3 unemployment rate to increase to 7.9% from September's 7.8% rate and 125k net new jobs. September reported 114k.
September Private Payrolls expected to increase by 130k. September increased by 104k.
Average workweek hours forecasted to remain stable at 34.5 hours per week.
Market expects average hourly earnings to increase by 0.2%. September reported 0.3%
It is more important to focus on jobs created than the U-3 rate. Also jobs created after discounting for government jobs. What happens to the U-6 rate?
September factory orders are to be released at 9am (Central time) today with a forecast of 4.5%. August reported -5.2%.
Copyright ©2012 Mark Shore. Contact the author for permission for republication at firstname.lastname@example.org Mark Shore has more than 20 years of experience in the futures markets and managed futures, publishes research, consults on alternative investments and conducts educational workshops. www.shorecapmgmt.com