"We have to revise our expectations down significantly for what a monthly job number should look like. When we were letting in 2 million illegal aliens a day we had to produce 200,000 a month for steady stay. Now 50,000 a month is going to be more like what we need. Wall Street, when this stuff comes out, they can't rain on our parade, they just have to adjust for the fact that we're deporting millions of illegals."
"The data release, delayed from last week, is expected to show the economy created 70,000 jobs in January, after 50,000 in December. Derren Nathan, head of equity research at Hargreaves Lansdown, said: The next steer for rate setters will be US non-farm payrolls data due later today. Forecasts are for an increase in hiring from 50,000 in December to 70,000 in January."
The US non-farm payrolls report for January is expected to show about 70,000 jobs added, up from 50,000 in December. Senior White House figures said monthly job numbers should be revised down because large-scale deportations will shrink the labour force. National Economic Council director Kevin Hassett advised against panic but warned investors to expect slightly smaller payroll gains. Market analysts say a weak print could increase confidence in the case for multiple Federal Reserve rate cuts this year. Equity research heads flagged the payrolls report as the next key steer for rate setters.
Read at www.theguardian.com
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