NFP: Payroll growth to slow to 195K in April – Wells Fargo
|Next week it is not only about central banks, the US official employment report is due on Friday. Analysts at Wells Fargo, see payroll rising by 195K, slightly above the consensus of 181K.
Key quotes:
“Slowly bending, not breaking, has so far been the story of the labor market this year. That is unlikely to change with April's employment report. In March, nonfarm payrolls rose by 236K, the weakest print since December 2020. Signs were more encouraging in the separate household survey, where employment rose by 577K, causing the unemployment rate to tick back down to 3.5%. The labor force participation rate also rose for a fourth straight month.”
“Falling hiring plans and job openings point to demand for workers continuing to trend lower. With some hiring pulled forward by the unusually warm weather to start the year, we look for payroll growth to slow to 195K in April and for the unemployment rate to edge back up to 3.6%. Another 0.3% increase in average hourly earnings would keep the year-over-year rate at 4.2%.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.