The noise-to-signal ratio is huge in financial markets and especially among strategists and commentators on TV. The ratio always peaks around the monthly release of US Nonfarm Payrolls which is scheduled to be released 12:30 GMT today. There are a lot of myths surrounding the number which is only an estimate! We do not know the "true" change in employment before 8 months later where everyone does not care anyway. However, I highly recommend you all to read this July Employment Report Preview by Jeff Miller to your perspective on the jobs report: http://oldprof.typepad.com/a_dash_of_insight/2012/08/july-employment-report-preview.html