3 Reasons Today's Jobs Report Could Be A Monster

The official expectation for today's jobs report is 180K, but there are some signs that suggest it could be huge.

Here are 3.

The employment sub-index of the ISM Services report turned in a monster reading. And this sub-index often correlated with NFP well.

In this chart, the red line is the ISM services sub-index, which as you can see has exploded lately. It makes sense that this would have some decent predictive value, since services are such a huge part of the US economy.

Meanwhile, US auto sales (which have a decent track record of being correlated with employment) had their best month since the crisis.

And finally, initial jobless claims have fallen to their lowest level since the crisis.