Could be a banner morning.
S&P 500 futures are up 8.4 points at 1,130.70 for the March contract after the U.S. Department of Labor this morning reported 36,000 jobs were lost last month, which is far below at least two estimates out there, 50,000 and 68,000. The nation’s unemployment rate held steady at 9.7% versus some expectation for it to rise to 9.8%.
As for the storms last week and the expectation the weather may have affected things, the Department notes that, “Major winter storms affected parts of the country during the February reference periods for the establishment and household surveys.”
The Department points out, you’d have to have been out the entire week ending Friday the 12th of Feb. If you had just one hour in the office that week, you were counted as employed.
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