TraderWise

This morning, the long-awaited Unemployment Report was released. Many analysts felt that bad weather would adversely impact the number and estimates were revised lower. Regardless of how the number actually came out, the market seem prepared to rally off of the release. The unemployment rate held steady at 9.7% and 36,000 jobs were lost in February. This was better than the 50,000 job losses analysts projected. Job losses for January and December were revised to show 35,000 fewer jobs. All told, the market loved this number.