The snow storms expected in the US come right in the middle of US NFP survey week
I thought I'd do a bit of digging and if I'm reading the info correctly, the week's data that the BLS use to assess the jobs report is running now.
"For both surveys, the data for a given month relate to a particular week or pay period. In the household survey, the reference period is generally the calendar week that contains the 12th day of the month. In the establishment survey, the reference period is the pay period including the 12th, which may or may not correspond directly to the calendar week."
As the 12th was Sunday, we can probably assume that the week started yesterday.
Even if the weather does affect the report, it won't be too much of a surprise to the market given how they've previously brushed off weather related low NFPs over the last few years.
Unless it's something ridiculously bad, like a negative number, it will be brushed under the carpet. However, it's worth remembering this point as it might give a great opportunity to fade a weather related bad number. We'll have to see what's happening in markets at the time though.
