Jobs numbers tomorrow will keep this four day rally going--or not

10/04/2012 6:08 pm EST

Focus: STOCKS

Jim Jubak

Founder and Editor, JubakPicks.com

The big economic news for the week comes tomorrow when investors get the September jobs numbers. The consensus forecast among economists surveyed by Briefing.com calls for the U.S. economy to have added 120,000 jobs in September. That would be an improvement from the 96,000 jobs created in August (although that figure is likely to be revised upwards in my opinion) but it would still be a far cry from the 250,000 or so jobs the U.S. economy needs to create monthly to make a significant dent in unemployment.

Today’s preview, the weekly new claims for unemployment, suggests that the modest forecasted increase in net jobs for September is about right. This morning the Labor Department reported that initial applications for unemployment rose 4,000 to 367,000 in the week ended September 29. Economists surveyed by Bloomberg were looking to a total of 370,000 new claims for the week.

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