For many years, that has been the most interesting time of the month, because that’s when the Bureau of Labor Statistics releases their monthly “jobs report,” which normally moves the stock market, either up or down. This month, economists expected 175 thousand jobs were created last month. Instead, we learned that a whopping 273 thousand were produced. It was a great report in all respects. Normally, the futures market would have jumped, but nobody cared this month.
Data collection for the report issued today ended February 12th, just before the coronavirus outbreak. Today’s excellent jobs report may have been our last excellent jobs report until this pandemic is over. Next month’s jobs report will be required viewing! It will give us an idea of how badly the coronavirus is hurting the economy.
Remember: First Friday of each month at 8:30 AM ET.