NFP Preview
Consensus for tomorrow's Nonfarm Payroll is pretty rich: 250,000 new jobs. I think that number is high (more on this tomorrow), as well as Productivity data (more on that Monday).
As we await tomorrow morning's data, let's take a run at some of the Cleveland Fed's monthly chartbook. They remain quite instructive:
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click for larger charts
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This is the worst jobs creation recovery since WWII ended
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Various Unemployment Measures
(note that the full measure of U-6 is 8.75%)
How has Labor Participation Rate changed since 2000 ?
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Who's dropping out of the Job Market by age? 
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Employment Ratio (Civilian Population)
Sources:
Economic Research & Data
FEDERAL RESERVE BANK OF CLEVELAND
http://www.clevelandfed.org/Research/index.cfm
ECONOMIC TRENDS
FEDERAL RESERVE BANK OF CLEVELAND, January 2006
http://www.clevelandfed.org/Research/ET2006/0106/trends.pdf
Thursday, February 02, 2006 | 06:30 PM | Permalink
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» Nonfarm Payroll Data is Out from Mover Mike
From Schaeffers Research.com
The Labor Department released the nonfarm payrolls data earlier this morning. In January, 193,000 jobs were ad... [Read More]
Tracked on Feb 3, 2006 6:12:59 PM
Comments
Great graphs, esp following the overview of the lofty job expectations that will be publicized tomorrow. The last one, employment/population ratio that looks downright encouraging (and therefore suspect), does it track/measure/guess/accomodate/ seasonally adjust/ for those 11 million alien workers? Does this seasoning salt the stats to an unpalatable degree (even for hard core non-statisticians like me)?
Posted by: calmo | Feb 2, 2006 7:12:17 PM
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