May Jobs Reports Revisions Keep On Coming

First Morgan Stanley, then Goldman Sachs, now MF Global.

Morgan Stanley cut its outlook for Friday's non farm payrolls report to 150,000. This is down from yesterday, when it expected a 175,000 print. Goldman Sachs also cut its outlook for the May jobs report, going to 100,000.

Lastly, MF Global cut its forecast for Friday's report, dropping to 90,000, down sharply from the 150,000 number it saw before the weak ADP report this morning.

This morning, the ADP report for May showed just 38,000 jobs were created, down sharply from the 175,000 that economists were expecting.