The U.S. employment market remains strong as it heads for its 3rd consecutive month of gains.
After February’s solid showing of 313K new job additions, economists suggested the market could be hard pressed for a strong March to follow suit. However, according to payroll processor, ADP, March produced a total of 241K private sector jobs, beating expectations of 205K – 210K.
ADP’s report comes ahead of the much anticipated nonfarm payrolls report produced by the Labor Department. Expectations for job growth is anticipated to be in the 185K range and for the unemployment rate to dip one tenth to 4%.
With fears of inflation still fresh on the mind of many investors, yet another strong employment report could trigger market volatility. However, economic data is certainly taking a back seat as the potential for a trade war between the U.S. and China steals the headlines. Regardless, trading during economic events poses additional risk exposure, thus incorporating proper risk mitigation measures, such as protective stops, is crucial.
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