PolyMac Non Farm Payroll Prediction
Wild Forex markets yesterday were caused by anxiety about Friday's non farm payroll numbers. Predictions vary wildly and evidence be damned, indicators are becoming increasingly difficult to decifer.
PolyMac sees Gulf unemployment due to temporary drilling moratoriums imposed by the Obama administration, as well as ripple effects of the oil spill on industries from Gulf commercial fishing and shrimping to tourism. Additionally, the census program has slowed hiring considerably since peaks, which will expose the lack of any real private sector growth in new hiring.
Expect six digit loses and increase in unemployment rate to 9.7%.
Posted via Blogaway