A few days ago I posted a bit about the significance of the upcoming (on Friday, 3/5) Labor Department report on employment. The number of "new jobs" and the percentage unemployment rate. Now, the pundits are pointing to that date in assessing the sideways slippage of the stock market lately, saying that the rate of job creation will dictate whether this recovery is for real or just based on borrowing at low interest rates, plus tax rebate money.
The various reports are looking for about 130,000 new jobs. If the number is 200,000, it will be a Bush triumph, they say; while 100,000 will mean a continued jobless recovery, because 150,000 new jobs per month are needed just to keep up with new entrants into the job market.
Big stakes here. Hold your breath.