The jobs report seems to come around faster every month
We get a double dose of jobs today with the US and Canadian reports landing at the same time at the bottom of the hour.
The consensus on non-farm payrolls is 475K with unemployment edging to 6.8% from 6.9%.
Estimates range from -100K to +750K. One factor is that the reversal of census hiring should trim about 93K jobs.
There are several other reasons for concern. The ADP report and the ISM surveys were both soft on hiring and initial jobless claims during the survey week were high.
In the high-frequency department, Homebase data suggests a negative number.
Add it all up and risks are to the downside. The bigger question is whether the market will care.
