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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (7116)	6/4/1999 8:58:00 AM
From: Kimberly Lee	Read Replies (3) \| Respond to of 108040

thanks, Glenn. Good morning, everyone. Employment #s are out: non-farm payroll only up 11,000 (good news), but the average hourly wage is up 4%, considerably higher than the expected 3%, bad news. From Briefing yesterday: The key figure to watch when the release comes out at 8:30 AM EST on Friday morning is the hourly wage number. This key indicator of inflationary pressure will be the focus of the bond market, and the bond market reaction will be the focus of the stock market. The hourly wage figure is traditionally a leading indicator of inflation. Briefing.com economists Greg Jones and Phil Hill are forecasting an hourly wage increase of 0.4%, higher than the consensus forecast of 0.3%. While Briefing.com calculates that this number, after three consecutive months of 0.2% rises, is still only a modest 3.4% annual increase in wages, the markets will likely take a 0.4% figure poorly. Briefing.com also is forecasting a payroll jobs number of 275,000, above the consensus of an increase of 215K, but the hourly wage number will be more important