This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Job Growth on Tap?

NEW YORK ( TheStreet) -- With the market eagerly awaiting the government's latest appraisal on the U.S. job market Friday morning, the buzz in some circles is that the economy will have added jobs for the first time in two years in December.

If the median estimate is to be believed, the Labor Department's nonfarm payrolls report will show no change in December, according to a Reuters survey. The nation's headline unemployment rate could advance by a tenth to 10.1%. But individual forecasts are varying widely ahead of the release, with some forecasts anticipating little change, one showing 100,000 jobs gained and another reflecting a cut of 80,000.

"I think the market will be content with a plus or minus 25,000, somewhere in that range," said Marc Pado, U.S. market strategist at Cantor Fitzgerald. "Neither losing or gaining many jobs and an unchanged unemployment rate at 10% is all that they really need. A plus number would get people a little excited."

>>See Our Interactive Unemployment Map

But the variance hasn't halted the feeling among several observers that a positive jobs figure is imminent after the most recent report showed a surprisingly slender 11,000 jobs lost in November.

"We believe it's already in the process of turning," said Bill Stone, chief investment strategist at PNC Wealth Management, who's forecasting that 25,000 jobs were added. "It looks like the trend is there to get to something like that."

The labor market is bleak, to be sure. The nation's unemployment rate will probably remain vexing for some time, and six-figure job growth per month is needed just to stabilize the environment over the long-term. But recent indicators have done nothing to dampen the mood that a rebound is underway and can only support more upbeat, short-term valuations. Already this week, the employment component of the ISM manufacturing index showed gains in December .
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AA $11.15 0.00%
LMT $185.90 0.00%
AAPL $125.42 0.00%
FB $85.76 0.00%
GOOG $520.51 0.00%

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.11 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs