May 13, 2009
– Comments (3)
May 14 08:30 Core PPI Apr 0.0% 0.1% 0.0% May 14 08:30 Initial Claims 05/09 580k NA 601K May 14 08:30 PPI Apr 0.2% 0.1% -1.2%
The real questions:
1. Will the numbers that come out Thursday be enough to spark a rebound?
2. How bad will the revision to previous numbers be?
3. Will the numbers that come out tomorrow, be yet another catalyst to drive the market lower?
I am optimistic that the numbers will continue to reflect an easing in the job world, but my optimism is tainted with a healthy dose of reality, and that reality is the fact that the numbers this week have not been so stellar, and I don't expect the numbers coming out tomorrow to be anything different. But we'll have to wait and see.
Job losses reported last month 533,000
Seasonal adjustment by Labor Dept 65,000
Part timers hired by census bureau 60,000
Actual job losses last month 658,000
The reported numbers have always been revised higher as if the market is supposed to ignore them. Usually, it does. This time should be no different.
Why should job losses diverge from foreclosure rates?