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Big Ben’s Next Big Move

Fast Money Portfolio
Fast Money Portfolio

For years now, the market has found itself on pins and needles ahead of the latest monthly jobs number.

It’s not unusual for the data to move the market – after all the fortunes of housing , banking and other trouble spots in the economy have everything to do with employment.

But as critical as the jobs report has been in the past, we’re hearing that the April report - due this Friday - may in fact be the most crucial economic indicator of the year.

“This report and the next one will tell us whether we’re having another false dawn in the labor market, says Randall Kroszner, former Fed governor and now a professor at the university of Chicago on CNBC's Fast Money.

“We saw this in early 2010 and early 2011, the labor market seemed to be recovering and then the wind came right out of the sails."

In other words, with this report and the next one we’ll find out whether the labor market is really recovering and Kroszner says that's something the Fed will be watching very, very carefully.

"That will the basis for the Fed’s decision in late June," he says, as the Fed decides whether to implement any new kind of additional QE after the current bond buying program winds down in June.

According to estimates, Friday's jobs report is expected to show hiring rebounded last month with 170,000 new jobs, an improvement from a meager 120,000 in March. Private payrolls are seen rising by 175,000.





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Trader disclosure: On May 2, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Dan Nathan is long AAPL JAN 450 PUTS; Dan Nathan is long BAC MAY 7 PUTS; Dan Nathan is long MS MAY 16/14/12 PUT FLY; Dan Nathan is long RIMM JAN 20/25 CALL SPREAD; Dan Nathan is long CHK MAY 16 PUTS; Karen Finerman is long AAPL; Karen Finerman is SHORT AAPL CALLS; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM CALLS; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Brian Kelly is long IWM; Brian Kelly is long QQQ; Brian Kelly is long SPY; Brian Kelly is long KRE; Brian Kelly is long USG; Brian Kelly is long CAD DOLLAR; Brian Kelly is short SWEDISH KRONE; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long MS; Pete Najarian is long INTC; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO; Pete Najarian is long INTC ; Pete Najarian is long INTC CALLS; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long SBUX CALLS; Pete Najarian is long PEP; Pete Najarian is long INTC; Pete Najarian is long FIO; Pete Najarian is long VISA CALLS; Pete Najarian is long STX CALLS; Pete Najarian is long MS; Pete Najarian is long MS CALLS; Pete Najarian is long TJX CALLS; Pete Najarian is long XCO CALLS

For Randall Kroszner
Nothing to disclose

CNBC.com with wires.

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