The consensus estimate for tomorrow's number is for 268k new jobs added. That would be the weakest job growth since April of last year. The six month moving average is over 500,000 monthly jobs added.
So this number tomorrow in the 200s would indicate a less healthy job market (still good, relative to pre-pandemic times).
This less healthy jobs report would reflect an economy that is likely in recession. So, is bad news good news? Will it curtail the Fed's interest rate threats?
That said, the Fed has been focused on getting people back into the job market, and reducing the massive number of job openings – shaking out the excesses of an exuberant economy.
On that front, as you can see in the chart below, the report yesterday on openings showed things rolling over (albeit very gradually)…