What to Watch for in the February Jobs Report

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March 7 (Bloomberg) -- Michelle Meyer, senior economist at Bank of America, and Frank Friedman, CFO at Deloitte, preview today’s February jobs report on Bloomberg Television’s “Bloomberg Surveillance.”

For at 8:30 this morning?

We are forecasting 115,000. we are below consensus.

The room for error is particularly large because of the uncertainty.

How will weather play a role?

How will the services economy filter into jobs?

I want to bring you in as well.

The uc wage growth?

-- do you see wage growth?

Is there actual wage growth?

A little.

Not that much.

There has been some wage growth over the last year.

What we see are hiring in energy, technology.

Health care is still pretty strong, notwithstanding the last month.

Particularly technology.

The fed is watching for the unemployment rate.

Should the fed be looking at wage growth, which has a better correlation with consumer spending?

They are looking at the unemployment rate as a way to measure for wage growth.

The challenge in this is something we have heard from numerous fed officials -- the unemployment rate is not the perfect measure of the labor market.

The fed should move away from using -- michael mckee was just brilliant on this yesterday.

They looked at the 6.5% unemployment number -- he said, wait a minute, we don't care anymore.

They said that should not be the focus.

They should move to a more qualitative approach.

A broader array of labor market indicators and that seems to be the right approach because frankly, we do not know why the unemployment rate fell so much.

Is it a function of a tricky labor force and hence that will come fast?

We call this gilda ratner economics.

"nevermind." a corporate default rattling china.

Shanghai chaori failed to make the full due on its onshore bonds.

This text has been automatically generated. It may not be 100% accurate.

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