Analyst: Weakening Trend in Job Market Evident, Non-Farm Payroll Data May Gradually Reflect This Reality

Odaily News According to Investinglive analyst Justin Low, US private data provider Revelio Labs estimates a decrease of 13,300 in non-farm payroll employment for January at the beginning of the new year, and significantly revised the December data downward to an increase of 34,400 (previously 71,100). This is not an official "preliminary estimate" for non-farm payroll employment but rather an indicative metric reflecting the overall trend. Revelio Labs' measurement standard is "a set of employment statistics derived from over 100 million professional profiles obtained from professional social networking sites" (such as LinkedIn, etc.). Their method may seem unconventional, but it does provide a good indication of the overall trend in the labor market. Therefore, even if today's non-farm payroll data is highly unlikely to show negative growth, the trend is already clear: the labor market is weakening. Under the current economic conditions, non-farm payroll data will continue to reflect this reality over time. When assessing any market reaction to tonight's report, this will serve as a reminder: a single data point does not constitute a trend. (Jin10)