Every first Friday of each month, American policy makers both in the monetary and fiscal front as well as investors across all asset classes in various markets wait for the biggest and most important economic data called the JOB REPORT. This report which is released by the department of labor specifically contains the number of jobs created in the previous month and the current unemployment rate. By tradition, the first person to receive the report is the President before it is released to the public. The content of report is so extremely important to extent that it determines whether an incumbent President will be re-elected or not. During the last election, it was the biggest drag to Obama re-election since in the history of America no President has ever been re-elected with unemployment rate of 7.8 percent that was then confronting his chance of re-election. But Obama was able to convince the electorate that he inherited an economy that was falling from the cliff as triggered by the financial crisis that started in 2008 . Today is another special day in America as policy makers in all the institutions of government as well as investors are waiting for job report to be released 7.30.a.m central time as a fundamental guidepost to policy formulation or re-direction and investment decisions.
Posted on: Fri, 07 Jun 2013 09:38:59 +0000
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