Good morning from the business news desk of the Star Tribune.
We're ready for the December jobs report coming at 7:30. Sorry, I mean March. Got confused by the view of six inches of new snow out the window.
Stocks snapped a four-day winning streak yesterday as big investors marked time ahead of this morning's data. U.S. futures are indicating a positive opening at the moment. Stocks in Asia were mixed overnight but also mostly flat. Japan's Nikkei closed down 0.05%. European markets are trading higher heading into the afternoon there.
The consensus number for non-farm payroll additions is 200,000. That would be an improvement from the 175,000 jobs that were added in February. The February number was way above expectations. The unemployment rate is expected to tick back down to 6.6% seen in January, after a pop to 6.7% in February.
Inside the data, look to see if private employment hit a new all-time record. The previous record was 115.98 million in January 2008. Last month, we were at 115.85 million. While the private sector has rebounded, government employment remains more than a half-million jobs below its record level.
Also, keep an eye out for whether the number of people working full-time jobs grew, and how that level compared to those working part-time. Underemployment is the term for people who are working part-time but want to work full time.
As we do every month, we'll let the data flow and reaction from Twitter from a number of economists and journalists. Stand by for news!
Here we go, watch for NFP #. Short for Non-farm Payroll...