Numbers released so far this month:
ADP report +77K versus +186K priorISM services employment 53.9 vs 52.3 prior ISM manufacturing employment 47.6 vs 50.3 priorChallenger job cuts 172.02k vs 49.79k prior Philly employment +5.3 vs +11.9 priorEmpire employment -3.6 vs +1.2 prior Initial jobless claims survey week 219K vs 215K priorThere have been some strong but conflicting messages ahead of this report and you can see that in the wide consensus estimate. The other numbers on February employment also show strong variation with big misses on ADP and manufacturing along with a jump in layoffs but that's counteracted by a good services employment number.
There is good news on the seasonals according to BMO:
The headline payrolls print is seasonally strong in February, coming in above estimates 73% of the time and missing 27% of the time, by 69k and 121k, respectively, on average. 42% of previous unemployment reads in February have been lower-than-expected, 35% have been higher-than-estimates, and 23% have matched the consensusAfter the release -- particularly if it's weak -- market participants will be looking to the breakdown in public/private jobs for indications on whether any layoffs were concentrated there or in the real economy. If it's all government job losses then the initial market reaction could quickly reverse.
This article was written by Adam Button at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( February non-farm payrolls preview by the numbers: A wide range of estimates and opinions )
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