U.S. Day Ahead: Jobs look ugly but there's a silver lining
Friday, February 01, 2013 - 02:51
Jan. 31 - Expect non-farm payrolls to rise to a tepid 160 thousand according to the latest Reuters poll. That won't be enough to put a dent in unemployment, but the economy could be reaching a tipping point.
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First it was weak consumer confidence that the price contraction in the economy now we'll see what the storm for the job market expect nonfarm payrolls to rise to a -- 100040. -- the latest Reuters poll. And you look -- to putting a dent in the unemployment rate at seven point 8%. Still our economic team in DC says there could be a silver lining. So one of the things I'm looking at is the average work week which came in right around 34 and a half hours last month and it's risen for a couple months in a row now. It's right around that level where it begins to pay offer employers a good return on investment for them to bring in new workers rather than to just continuously. Extend the work weakening pretty overtime cost. Further existing workforce. And we'll have a live reaction to the jobs report from the white house with Reuters correspondent Jeff me and at 10 AM we interviewed income strategist -- the -- team. Street estimates on nonfarm payrolls are all over the place -- -- the most -- -- Bank of America with all of 130000. New jobs. You may -- recent improvement in jobless claims have been misleading. On the other hand Wells Fargo calling for an optimistic 200 dollar and with the unemployment rate edging down. -- seven point 7%. The auto industry could be in high -- when car and truck sales are released by far the annual sales -- comes in at fifteen point three million in January. That's pretty impressive level especially in analysts were expecting a sudden drop in sales following the public any surge. The market is completely -- better credit availability and consumers -- leasing and pulled her heart and front. But the danger did you it's fifteen million I have aren't that -- -- ball below that level it might be very disappointing given all the bullish. One might be the largest company in the world after Apple's lock. Exxon is struggling with some major issues expand its profits from rice just barely from the year ago whenever we're learning as it tries to solve -- falling oil and outlet. Down nearly seven and a half percent in the green -- quarter. Imagine what that's not that's not Iraq -- before I got to choose between developing in the oil field in southern Iraq. Or in the autonomous region the latest on. On the majority staying in the fifty billion dollar Iraqi project. What difference are offering more lucrative contract. Next shares down almost 1% at me and country and Chevron also reports. Before Friday night. On Twitter at -- Snyder and get more of our great that you're you're constantly. Eat. We'll get excited that's balance sheet and explain how chairman -- -- he and Kyle and three trillion dollar but according to the economy. -- -- -- -- --
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