Jobless Claims came in this morning 4,000 more than the 208,000 expected. Saddle that with the 16,000 fewer job openings on the ADP Employment Report, and the Fed is justified in having subdued the hawkish tone yesterday. The official Jobs Report comes out tomorrow from the Bureau of Labor Statistics, where every measurable data point is anticipated to remain exactly the same as in last month’s report. We’ll get into the details of the report tomorrow, but for now, we’re stalled out.
