Investors need to be careful when looking at the February U.S. jobs report, Art Cashin, UBS' director of floor operations at the NYSE, said Thursday.
"We've had some distortions in previous numbers. We had a number, I think two months ago, that made it look like there were 200,000 payroll jobs, and when you took it apart, a lot of that was added seasonal adjustment," Cashin told CNBC's "Squawk on the Street." "I think this number may also be distorted. Back then, it turned out there were only 10,000 real jobs, not 200,000."
The report is due Friday morning and economists polled by Reuters expect jobs in the U.S. to have increased by 190,000. The January report showed an expansion of 151,000.
Stocks were lower midmorning Thursday, but have been trending higher since Feb. 11, when the S&P 500 hit its 2016 intraday low.