Econ data: 09 week 6

This week, the most important data are 1) the unemployment rate 2) Obama's new stimulus economy plan, whether it will pass or fail today
• Jan USA unemployment rate up to 7.6% (worse than expect, 7.5%) prior 7.5%
• Jan USA non-farm payrolls positions cut 598k (worse, 540k), prior cut 577k
• Jan USA hourly earnings up 0.3% (better, 0.2%), prior 0.4%
• 01/31 Initial jobless claims up 626k (worse, 580k), prior 591k
• Dec USA pending home sales up 6.3% (better, 0%), prior -3.7%
• Jan USA ISM services index up to 42.9 (better, 39.0), prior 40.1
• Dec USA factory orders down 3.9% (worse, -3.1%), prior -6.5%
• Jan Canada unemployment rate up to 7.2% (worse, 7.0%) prior 6.6%
• Jan Canada non-farm payrolls positions cut 128k (worse, 40k), prior 20k
Now everyone's eyes will turn to the bail out plan, regardless of pass or fail, it takes 2-3 months (at least) in order to have impact to economy and it will take another 2-3 months to reflect them on the economic data, and another 2-3 months for analysts to confirm and determine the trends.