The February jobs data came in hotter-than-expected with the US Bureau of Labor Statistics reporting that 275,000 non-farm payroll jobs were added against an expected 200,000. While jobs soared above previous forecasts, the unemployment rate rose slightly to 3.9%. Interactive Brokers Chief Strategist Steve Sosnick and UBS Global Wealth Management Chief Economist Paul Donovan join the Live show to break down the report, what it means for broader markets moving forward, and speculate what the Federal Reserve may do with the February print. Donovan puts the numbers into perspective: "This is an ongoing problem that we've got with non-farm payroll. The data is really, really bad quality these days. Fewer than half the companies that are asked actually bother to send back their payroll numbers with the Bureau of Labor Statistics. Effectively, you're surveying a minority of companies that are being asked. We get these big revisions and I think the revised numbers are more consistent with the narrative that we're hearing elsewhere, which is, yes, things are calming down a bit. Churn in the labor market. People are job hopping. That's been declining and that's also part of this picture." In terms of how markets are reacting to the data ahead of Friday's open, Sosnick says: "Unless the bond market really changes its view, there's nothing here that if you are inclined to continue buying the rally, there's nothing to tell you not to do that, you know, at least in the short-term. We'll worry about the longer term later." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
