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Economic Statistics

US Non Farm Payroll report to be released at 8:30 AM

The important Non Farm Payroll will be released at 8:30.  The expectation is for a decline of -365K. The unemployment rate is expected to rise to 9.6%.  The Manufacturing sector is expected to show a decline of 150K.  The Average weekly hours is expected to remain at 33.1, a record low level. 

Last month the tide turned with the NFP rising to -345 from -504 the month before and prior to that a string of numbers above -600K.  The trough was -741K job losses in January. Since January 2008 when the current job recesssion started, 6 million people have lost their jobs.   The unemployment rate has increased from 4.9% to the current 9.4%.

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