OK, well maybe it is not the most important employment report ever, but given its potential impact on next week's Presidential Election, tommorrow's employment report is important. In the table to the right, we highlight current economist expectations for the report tomorrow morning at 8:30 AM ET. As shown, economists are expecting a 125K increase in non-farm payrolls, and an increase in the unemployment rate to 7.9%.
Earlier today, we sent out a report to clients summarizing how the equity market has performed following prior employment reports so far during this economic recovery. We looked at some of today's employment related data to see what impact (if any) it would have on tomorrow's report. In the report, we also provided S&P 500 and sector performance numbers for each day as well as an analysis of how the index performs when the reported number varies widely from expectations. If you are looking for a blueprint on what to expect from the market tomorrow after the number is released, this report is a great start.