US: Jobs report is already outdated – Danske Bank
|The US jobs report is considered perhaps the most important economic indicator, but the jobs report for March due out on Friday is already outdated before it is released, economists at Danske Bank apprise.
Key quotes
“The jobs report is based on the pay period covering the 12th of the month, which is before the US really started to lock down. Instead, the focus is on the initial jobless claims for last week, which is due out tomorrow Thursday.”
“If claims have risen by another 3.5m, the April jobs report will show a decline in employment of at least 7m but, unfortunately, probably more.”
“As the jobs report is already outdated, we do not expect it to be a major market mover this week.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.