Thursday, November 3, 2011

Expectations For October Employment Report

It's taken as such a given that labor and housing markets are unhealthy that there doesn't seem to be much anticipation of tomorrow's unemployment report.  Consensus is that the economy created 90k jobs in October and that the unemployment rate was flat.  

As far as 2011 goes, the expectations are low relative to the average 119k gain, but pretty much in line with the gains of the last few months.  

The expectations for a change in the course of the labor market are so low that tomorrow's report creates the opportunity for surprise.  Is there a way to buy labor market vol?

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