How to read the Sandy-impacted jobs report Foreca
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How to read the Sandy-impacted jobs report
Forecast is for 80,000 jobs to be created in November
WASHINGTON (MarketWatch) — The highly anticipated monthly U.S. jobs report is rarely treated as minor sideshow, but November is a different story.
Economists believe the disruption caused by Hurricane Sandy slashed net job growth in November by more than half compared to the prior month, making it virtually impossible to figure out whether U.S. hiring trends got better or worse. They say it might take another month or two of jobs data before they can backfill and figure out how much the storm hurt hiring.
“We won’t have a sense of what underlying job growth is until we get the December number,” said senior economist Gus Faucher at PNC Financial Services. “We know Sandy is going to have a negative impact. We just don’t know what that is.” http://www.marketwatch.com/story/how-to-read-...=afterbell
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