Employment Numbers Are About To Get Historically Bad
May 4th, 2009 | By Christian Hill | Category: Financial NewsThis could get ugly. Another month, another 600k+ jobs expected to be lost. This would mark the 16th straight month of job losses, just one month short of the longest streak in history.
Needless to say, when the number of jobs lost every month is in excess of 600k, we aren’t going to see an abrupt stop. We will unfortunately set the record for consecutive months of job losses in the next few months.
Monday
Economic Reports: Pending Home Sales
The Pending Home Sales report for March comes out this morning at 10:00 am, and I am a little surprised by the expectations (flat). With all the foreclosures continuing, and prices still sliding, I think this report will show a modest increase in Pending Home Sales.
Earnings Announcements: S
Tuesday
Economic Reports: ISM Services
This could be another month of contraction in the services sector if expectations are accurate. One thing to note when the report is released is if any sectors are expanding versus contracting. Last month the only sector to display expansion was in real estate rental and leasing. In any event, until more sectors are expanding than contracting the economy will continue to languish.
Earnings Announcements: KFT, UBS
Wednesday
Earnings Announcements: CSCO
Thursday
Earnings Announcements: GM, VRSN
Friday
Economic Reports: Non-Farm Payrolls, Unemployment Rate
Earnings Announcements: TM
Source:Employment Numbers Are About To Get Historically Bad
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