NonFarm Payrolls Forecast at -868 000 Jobs

plugger · Mar 5, 2009

Check these guys out, they're forecasting a drop in U.S. nonfarm payrolls of 868 000 jobs. I do not know how accurate their forecasts are but they claim they are the more accurate than the consensus. Will be interesting to see.

http://www.wantedtech.com/pdf/press_releases/PR_2009-03-05.pdf

How will the market take the news if it comes out that bad or worse?

plugger · Mar 5, 2009

Yikes, I see the consensus for tomorrow's numbers are much smaller than the above:

Mar 06 08:30 Nonfarm Payrolls Feb
Briefing -650K Consensus -650K

Mar 06 08:30 Unemployment Rate Feb
Briefing 7.9% Consensus 7.9%

stock_trad3r · Mar 5, 2009

it's going to be in line or better than expected. stocks will rally.

S2007S · Mar 5, 2009

Something north of 700,000 is certain anything above 800,000 and say hello to sub 6400.

stock_trad3r · Mar 5, 2009

lol wuldn't it be funny if it came in at only -400,000?

plugger · Mar 5, 2009

I don't have a clue how good or bad it will be, but I think that a decline of 868 000 jobs would be quite demoralizing for the market given what consensus is. Or, are people expecting the worse and thinking it will be a decline of over 1 000 000 where anything less will deliver a sigh of relief.

Guess we'll see.

EMRGLOBAL · Mar 5, 2009

We are in the final phase of the "Destruction" of Wealth. I would not be surprised that the numbers come in between 700,000 to 800,000 jobs lost. We will have a few more numbers in that range as the Towel is thrown in.

The rally in NYC on "City Hall" with the Socialist, Unions, Gov Workers is just the start.

We are in PANIC phase and this could last through summer.

Will their be riots, yes. Will things get burned down, probably, but when the smoke clears...people will understand that the Class System is in place.

stock_trad3r · Mar 5, 2009

while Goldilocks may have softened somewhat, getting her back on track is not rocket science.

Red_Ink_inc · Mar 5, 2009

Quote from EMRGLOBAL:

We are in the final phase of the "Destruction" of Wealth. I would not be surprised that the numbers come in between 700,000 to 800,000 jobs lost. We will have a few more numbers in that range as the Towel is thrown in.

The rally in NYC on "City Hall" with the Socialist, Unions, Gov Workers is just the start.

We are in PANIC phase and this could last through summer.

Will their be riots, yes. Will things get burned down, probably, but when the smoke clears...people will understand that the Class System is in place.

Congrats on being one of the few that actually gets it.

BosyBillups · Mar 5, 2009

What do you mean by "Class System is in place"?