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Jobs Market Boost? Morning Business Memo
Welcome to jobs week. The unemployment report from the Labor Department is usually the most closely watched set of monthly numbers. Most economists expect the February report will show that more than 200,000 jobs were added. Payrolls rose 243,000 in January, the most in nine months. The jobs market has been improving recently, but Federal Reserve Board Chairman Ben Bernanke said last week it’s “far from normal.”
The stock market is off to the strongest start since 1998, says the Wall Street Journal. But the market could be facing headwinds in the coming days. Growing tension with Iran is one concern. Rising oil and gasoline prices could put the brakes on the economic recovery. The U.S. Energy Department’s weekly survey of pump prices is almost certain to report a gain when it’s released later today. There’s still uncertainty about a clear solution to Greece’s long debt crisis. The finance ministry in Athens says a debt reduction bond swap with private creditors is expected to go ahead next week. But there is still no firm agreement.
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