US and Canadian jobs reports highlight the economic calendar

Welcome to another edition of non-farm payrolls Nonfarm Payrolls Nonfarm Payrolls (NFP) is the single biggest monthly economic news indicator released out of the United States, usually on the first Friday of every month. Reported by the US Bureau of Labor Statistics, the NFP measures the increase or decrease in the number of people employed during the previous month, except for those working in the farming and agriculture industry.The NFP can also be referred to as an Employment Change, and is the most anticipated monthly report. As it's released at the begin Nonfarm Payrolls (NFP) is the single biggest monthly economic news indicator released out of the United States, usually on the first Friday of every month. Reported by the US Bureau of Labor Statistics, the NFP measures the increase or decrease in the number of people employed during the previous month, except for those working in the farming and agriculture industry.The NFP can also be referred to as an Employment Change, and is the most anticipated monthly report. As it's released at the begin Read this Term Friday, with the Canadian jobs report to be released at the same time. The consensus is 268K with average earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term up 5.0% y/y.

I don't see this report as a particularly meaningful one in terms of how the market might react. The market is struggling with both growth and recession fears. If anything, I'd make the argument that a jobs number closer to zero is ideal because the Fed wants to see some softening in the labor market before pausing rate hikes.

Equally important might be a pair of appearances from the Fed's Williams, who is in Puerto Rico. He speaks on a roundtable at 8:30 am ET and again at 11 am ET. The latter speech is slated to be on the economic outlook and any hint at slowing the pace of hikes would be market moving.