This week on 7th of June 2013....investors and world markets await US job data "Non-Farm payrolls". As most traders monitor this indicator...as it is the biggest leading economic Indicators for US job growth or decline. Can Non- Farm Payrolls data hold it's weight in today's market?? Since 2005, NFP has been a huge impact more than in prior years...mainly after 'Hurricane Katrina, Iraq war and the Financial crisis of 2008" this indicator is the "heavy hitter" for making gains or losses in trades.
The question remains...in 2013...has NFP held it's value as the premier U.S. economic indicators. Prior to the NFP data....ADP employment change data (Employment Report) prepares markets for insight to what may or may not be??? Since 14 million U.S. citizens are unemployed (via Unemployment Report), countless thousands or millions extending the unemployment insurance or giving up "hope" for searching...what indicator can be used to truly guage U.S. job growth??
If the U.S. expects growth and the Fed truly believes in assisting by gauging the economy? The solution is for the "private" corporate organizations to "open their wallets" and hire...instead of "public sector" jobs increasing. Keep in mind "part-time" jobs are not considered a true factor of growth in employment. For the past 5 NFP results..."public sector" jobs dominate growth...will we see different results once this "theme" changes??
For now....I consider NFP as the "main event" to any big event for entertainment value...."grab some popcorn" and enjoy the show!