A Reuters survey suggests that over 200,000 US jobs were added in February. If true, this would be the first time that three consecutive months recorded job growth greater than 200k after the onset of the recent financial crisis. More than 240,000 jobs were added in January. The official numbers will be released at 8:30 am EST this coming Friday.
Such a jobs report is expected to decrease the chances of further near-term Federal Reserve intervention in the markets, such as asset purchases. This growth is expected to be entirely in the private sector, with government payrolls continuing to shrink. Labor market areas of strength remain manufacturing (dominated by the auto industry) and areas of weakness include the long-term jobless and those with less education. The unemployment rate is expected to stay stable.
Source: Reuters
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