Employment tax receipts to the Federal Gov't are now negative year-over-year for the first time since December. And weekly unemployment claims have risen for the past three weeks in a row. Tomorrow they're expecting a pretty strong jobs number. Do these data suggest a negative surprise?
4 comments:
Everybody is expecting unemployment to hold steady tomorrow. If this translates into more unemployed, things could get a little bouncy tomorrow.
It's noisy data, but still very good to know. I presume that the government knows exactly what its tax receipts are without having to estimate or do "adjustments" as with unemployment. In that sense, it should be more reliable data.
It is noisy, but over time you do see trends and it looks like job growth may have peaked in Jan according to this. Well get some indication tomorrow.
Good call, Mike, 50,000 fewer jobs than Jan.
Now if I knew why the pound and aussie fell while the loonie jumped...odd sometimes.
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