Tomorrow’s Big Jobs Number

Andrew Sullivan —  Sep 6 2012 @ 11:53am

One omen is good:

Paycheck processing firm ADP said private companies added 201,000 jobs last month, up from 173,000 in July. That was much better than the 143,000 jobs economists surveyed by were expecting.

Major caveat: this is the private sector only. Another data point:

Weekly applications for unemployment benefits fell by 12,000 to a seasonally adjusted 365,000, the Labor Department said Thursday. The four-week average, a less volatile measure, ticked up to 371,250. Unemployment benefit applications are a measure of the pace of layoffs. When they consistently fall below 375,000, it suggests that hiring is strong enough to lower the unemployment rate.