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Fiscal Cliff Smothers Market, Not Jobs Report

Investors and politicians may want to keep an eye on next month's report.

"I think you have two problems: One is that next month you could see the impact of Hurricane Sandy that we thought we'd see this month, and the second thing is maybe the impact was really there and you'll see an adjustment," said Randy Frederick, managing director of active trading at Charles Schwab.

For each monthly employment report, the BLS prints a revision of the previous month's report.

Friday's report likely didn't garner the same interest it had generated during the presidential election, but worries of a fiscal cliff have guaranteed that a dwindling participation rate and a struggling employment environment won't soon be forgotten.

-- Written by Joe Deaux in New York.

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