por admin » Jue May 31, 2012 9:21 pm
Se esperan 155,000 empleos creados en Mayo. El desempleo igual en 8.1%
Tomorrow’s Tape: the Big One, the Jobs Report
By Paul Vigna
Economics:
BLS nonfarm payrolls report (8:30 a.m): The queen mother of data points. Hopes will not be high for this jobs report after the spate of weak reports over the past two days, from TrimTabs, to ADP, to Challenger, to even this morning’s weekly jobless claims.
The consensus is that the report will show 155,000 jobs were created in May, with the unemployment rate staying level at 8.1%. (We’ll be live blogging the report, beginning at 8:00 a.m.)
More important than the headline numbers, keep an eye on the kinds of jobs being created, what industries are adding or subtracting, and wage growth. Even more than the headline numbers, what the nation really needs are quality jobs that pay a living wage.
Also, keep a close eye on the participation rate, which last month was 63.6. Everybody knows by now that the unemployment rate is falling at least in part because people are just leaving the work force. A rise in the participation rate would likely increase the unemployment rate, but it would at least indicate people are coming back to the work force.
If you’re a glass half-full type (and most on the Street are,) then maybe you may hope that given the dashed hopes even a consensus number will spark a rally. Or maybe you figure a bad number will be another prompt for more Fed action.
On the other hand, if your glass is half-full of strychnine, then this is going to be one more data point that shows despite years of effort and literally trillions thrown at the problem, the economy still hasn’t built any lasting momentum.
As if that wasn’t enough, there’s more:
April personal income and outlays (8:30): income’s seen rising 0.3%, after March’s 0.4% gain. See our point above about wages.
ISM May manufacturing report (10 a.m.): seen falling to 53.9 from 54.8.
In Europe, May manufacturing PMIs will be released for Italy, France, Germany, and the eurozone as a whole.
Two notables from Canada: first-quarter GDP at 8:30, and (yes, another) manufacturing PMI, at 9:30.
Earnings:
Charming Shoppes, Graham, Modine