PHILADELPHIA, Pa.—Economists, politicians and business owners are all watching for this Friday’s non-farm payrolls report, which is a indication of how hopeful Americans feel about the economy, says financial expert Dan Celia.
“Friday is the big number that everyone will be talking about,” Celia said on a recent “Financial Issues”nationally syndicated program. “Everyone will be waiting for the non-farm, private-payrolls report, which is expected to be down a bit from last month. Personally, I am curious about this number, even more than the unemployment rate, for two reasons. One is how many hours are being worked per week, and another is how many are actually entering the workforce and impacting the labor participation rate. Remember that last month, a big number—300,000—reentered the workforce. We’ll see if we get that again this month. Friday’s numbers are the real indicator of how people feel about the economy, if they are, in fact, applying for jobs. So as soon as they apply for a job, they become a part of the number that is counted as labor participation. And, hopefully, we will see a solid labor participation rate on Friday.”
View a video from Dan Celia on this topic. Celia leads Financial Issues Stewardship Ministries (FISM,www.financialissues.org). Read more about Celia, FISM and the “Financial Issues” program here.
To interview Dan Celia of Financial Issues Stewardship Ministries, contact Jen Retallick, 610-584-1096, x100, Media@HamiltonStrategies.com, or Deborah Hamilton, 215-815-7716 or 610-584-1096, x102.